Stop-gap/Pension Account

Do you need to cushion yourself against the period when you stop receiving your salary-upon retirement, and when you start receiving your pension? if yes,then you ought to open this account.

Features:

• Minimum monthly contributions of Ksh. 200
• Free standing order
• One can deposit via paybill no. 997960 at no cost
• Competitive interest rates
• Non-withdrawable till one attains;
  • 60 years of age or early retirement
  • upon insanity
  • permanent disability

Requirements:

• Age – 18 years and above.
• Passport size photo of yourself taken within the last 3 months.
• National ID card copy (both sides).
• Have your signature specimen captured.

This is a loan given to SACCO members with a FOSA account who channel their produce through us.It encompasses the following loans:

• Individual Mavuno loan
• Group Mavuno loan
• Boda boda Loan
• Maziwa loan
• Stock loan
• Agri-business loan
• Asset Financing loan
• LPO / Invoice discounting loan

Eligibility:

• Individuals should have an active Mavuno account.
•  Individuals should ensure that the Mavuno account is operational for at least 3 months consecutively, or a month plus a 6-months bank statement and/or M-pesa statement.
• Individuals should have a regular source of income which can allow for savings.
• Maximum repayment period is 36 months.
• Loan is secured by 4 guarantors.

Benefits:

• Guaranteed dividends annually.
• Shares can be used as collateral while taking a loan.
• Competitive interest rates.
• Quick processing and disbursement on qualification.
• Flexible repayment terms.
• Flexible collateral requirements.
• Available to all account holders.