List of Stima Sacco Savings Accounts. Stima Sacco DT is a licensed Deposit Taking Sacco established in 1974 with the sole objective of uplifting the members’ social-economic well-being. In April 2003 the Sacco responded to members’ banking needs by introducing the Front Office Service Activity (FOSA) to offer banking services to its members. To date, the Sacco has nine branches in Nairobi(Parklands), Mombasa, Kisumu, Nakuru, Olkaria, Eldoret, Nairobi CBD, Embu, and Kawi Centre (South C)
SHARES ACCOUNT
This is a portion of member`s equity in the Sacco
- • Individuals Kes. 25,000 min.
- • Groups Kes. 25,000 min.
- • Corporate Kes. 50,000 min.
- • Earns Dividends annually
- • Dividends shall be automatically capitalized for any member holding less than the Minimum Share Capital
- • Non Refundable (Can only be transferred to an existing member) ALPHA
JUNIOR STAR ACCOUNT
Children short term savings
- Minimum monthly savings of kes. 500/-
- Minimum account balance Kes 500/-
- Withdrawal can be done once after every 4 months
- • Early withdrawal charges: 500/- for amounts less than 10,000
- 5% for amounts greater than 10,000/ or capped at 2000/- whichever is lesser
- Not to be considered when the amount is being utilised to pay off an outstanding loan.
- Not to be considered when the amount is being transferred internally to any of the members Savings Account with the exemption of Prime Account.
- No ledger fees or monthly charges · Minimum monthly balance 500/- · Dormancy after 6 months
ALPHA DEPOSIT ACCOUNT
Continuous monthly savings by members
- Individuals Kes. 25,000 min.
- Minimum Monthly contributions; Individuals Kes. 1,000- , Groups Kes. 5,000/- , Corporates Kes 10,000/-
- Earns interest annually
- Interest Rebates shall be automatically capitalized for any member holding less than the Minimum Share Capital
- It’s the loans multiplier & allows members to access deposit based loans
- Can be contributed through standing order, check off, mobile banking, bank transfer or direct deposit
- Can only be accessed upon membership withdrawal
TWIGA SAVINGS ACCOUNT
This is a portion of member`s equity in the Sacco
- Minimum monthly savings Kes.1000/-
- Balance above 6,000/- earn interest of 3% p.a
- No monthly charges
- First withdrawal can be done after 6 months, after which can be made every 3 months
- Early withdrawal charges are as follows; 500/- for amounts less than 10,000.
- 5% for amounts greater than 10,000/ or capped at 2000/- whichever is lesser.
- Not to be considered when the amount is being utilised to pay off an outstanding loan.
- Not to be considered when the amount is being transferred internally to any of the members Savings Account with the exemption of Prime Account.
- Minimum monthly balance 500/-
- Dormancy after 6 months
PRIME ACCOUNT
This is a Transactional account like a bank’s current account.
- Allow salary processing, cheque clearing, loan, External & Internal transfers
- No ledger fees or monthly charges · Minimum Kes 500
- Amounts above Kes.15,000/- Earns an interest of 2%
- Maximum of Kes. 400,000- per day over the counter
- Funds access channels includes; SACCO LINK ATMs, Stima Sacco check book and Mobile banking
- Statements can be viewed online via the web portal
- Dormancy after 6 months
MSINGI BORA ACCOUNT
Saving plan for children to help members accumulate savings for paying school fees
- Minimum monthly savings of Kes. 500/-
- Account minimum balance of Kes.500/-
- Contract term between 5 – 18 Years
- Projected savings insured against the principle member death and permanent disability
- • After 3 years member qualifies for a self-guarantee school fees loan of up to 75% of the Msingi bora savings
- • Interest of 5% p.a. paid at the end of the contract
- • Premature termination of the contract;
- Forfeiting the interest earned and pay 2% early withdrawal charges
- Refund all premiums paid to the insurance
- Dormancy after 6 months
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