Savings
Making savings easy, fun, and rewarding for our members.
1. Convenience
2. Transparency
1. Convenience
Open an account with Mombo Sacco on the go, in less than 10 minutes, using your smartphone. Our user-friendly app allows you to start saving immediately, without any hassle.
2. Transparency
Access all your account details and terms and conditions directly from your smartphone. We believe in complete transparency, ensuring that you have full visibility into your savings.
3. Competitive Profit Rates
At Mombo Sacco, we offer the best-in-market fixed returns on your savings. Enjoy attractive profit rates that help your money grow faster.
4. Flexibility
Choose from our range of flexible savings accounts that align with your current financial ability and objectives. Whether you are starting small or aiming higher, we have the right account for you.
5. Insurance
Your savings with Mombo Sacco are insured by the best insurance company in Kenya. Rest assured that your hard-earned money is protected, providing you with peace of mind.
6. Financial Literacy
Access valuable financial literacy resources through our Mombo App. Benefit from Stadi, our artificial intelligence assistant, which offers personalized guidance and insights to
help you make informed financial decisions.
7. Affordable Loan Facilities
As a Mombo Sacco member, you can access affordable loan facilities. Earn up to 50% interest discounts for each instalment paid in advance.
Open an account with Mombo Sacco on the go, in less than 10 minutes, using your smartphone.
Our user-friendly app allows you to start saving immediately, without any hassle.
Access all your account details and terms and conditions directly from your smartphone. We believe in complete transparency, ensuring that you have full visibility into your savings.
3. Competitive Profit Rates
4. Flexibility
Open an account with Mombo Sacco on the go, in less than 10 minutes, using your smartphone.
Our user-friendly app allows you to start saving immediately, without any hassle.
Access all your account details and terms and conditions directly from your smartphone. We believe in complete transparency, ensuring that you have full visibility into your savings.
5. Insurance
Open an account with Mombo Sacco on the go, in less than 10 minutes, using your smartphone.
Our user-friendly app allows you to start saving immediately, without any hassle.
6. Financial Literacy
7. Affordable Loan Facilities
Open an account with Mombo Sacco on the go, in less than 10 minutes, using your smartphone.
Our user-friendly app allows you to start saving immediately, without any hassle.
As a Mombo Sacco member, you can access affordable loan facilities. Earn up to 50% interest discounts for each instalment paid in advance.
Flexible Saving Accounts
Individual members can choose from one of our five flexible savings accounts. Each account permits regular savings based on your ability and financial objectives. These accounts provide a reasonable monthly return that accumulates over time and can be withdrawn annually – every January. As a matter of principle, all members are required to purchase 200 shares at 1 share for Ksh 100.
In addition, members enjoy affordable loan facilities and complimentary savings protection with Britam Insurance company. Members are restricted to a single account at a time but can one upgrade or downgrade a savings account at your convenience at no cost. In addition, members can pause savings when their financial situation demands such and this will not affect their record with the Sacco. To close the account a member is required to issue a 60 days’ notice and the Sacco will refund the members total Share capital, savings, and interest on savings less any loan balances or loan guarantee balances.
Bronze Saving Plan
Minimum Monthly Saving
Ksh. 500
Profit rate: 4% per annum
Minimum Credit Limit: Ksh. 100,000
Registration Fee: Ksh. 200
Silver Saving Plan
Minimum Monthly Saving
Ksh. 2,500
Profit Rate: 4.5% per annum
Maximum Credit Limit: Ksh. 500,000
Registration Fee: Ksh. 1,000
Gold Saving Plan
Minimum Monthly Saving
Ksh. 5,000
Profit rate: 5% per annum
Minimum Credit Limit: Ksh. 2,000,000
Registration Fee: Ksh. 1,500
Platinum Saving Plan
Minimum Monthly Saving
Ksh. 10,000
Profit Rate: 6% per annum
Maximum Credit Limit: Ksh. 5,000,000
Registration Fee: Ksh. 2,000
Emerald Saving Plan
Minimum Monthly Saving
Ksh. 30,000
Profit rate: 8% per annum
Minimum Credit Limit: Ksh. 8,000,000
Registration Fee: Ksh. 2,000
A member can open a Flexible savings account, view his shares and savings statements, upgrade or downgrade his savings plan, withdraw his interest on savings and close account by tapping on the icon beside the Flexible savings account section on the Mombo App homepage.
SME Biashara Accounts
Mombo Sacco provides five savings accounts for SMEs, Chamas, and groups of at least 6 members of family and friends. These accounts provide regular opportunities for saving, attractive monthly returns, and access to loan facilities for development. The accumulated monthly returns can be withdrawn annually – every January.
As a matter of principle, all members are required to purchase 500 shares at 1 share for Ksh 100. Members are limited to a single account at a time but can one upgrade or downgrade a savings account at your convenience at no cost. In addition, members can pause savings when their financial situation demands such and this will not affect their record with the Sacco. To close the account a member is required to issue a 60 days’ notice and the Sacco will refund the members total Share capital, savings, and interest on savings less any loan balances or loan guarantee balances.
Stawi Saving Plan
Minimum Monthly Saving
Ksh. 10,000
Profit rate: 4% per annum
Minimum Credit Limit: Ksh. 2,000,000
Registration Fee: Ksh. 4,000
Shaba Saving Plan
Minimum Monthly Saving
Ksh. 30,000
Profit Rate: 4.5% per annum
Maximum Credit Limit: Ksh. 5,000,000
Registration Fee: Ksh. 10,000
Dhahabu Saving Plan
Minimum Monthly Saving
Ksh. 100,000
Profit rate: 8% per annum
Minimum Credit Limit: Ksh. 18,000,000
Registration Fee: Ksh. 10,000
Fedha Saving Plan
Minimum Monthly Saving
Ksh. 50,000
Profit Rate: 7% per annum
Maximum Credit Limit: Ksh. 8,000,000
Registration Fee: Ksh. 10,000
Zumaridi Saving Plan
Minimum Monthly Saving
Ksh. 300,000
Profit rate: 9% per annum
Minimum Credit Limit: Ksh. 30,000,000
Registration Fee: Ksh. 10,000
A member can create, join a Chama savings account, view his shares and savings statements, upgrade or downgrade his savings plan, approve/decline Chama join requests, view a list of all approved Chama members, remove Chama members, assign Chama members a member number, withdraw interest on savings and close account by tapping on the icon beside the Chama savings account section on the Mombo App homepage.
Requirements For SME Biashara Account Opening
Our mission at Mombo Sacco is to empower individuals by providing inclusive financial solutions that enable them to achieve long-term prosperity for themselves and their families.
Goal Savings Accounts
Individual and group members of Mombo Sacco have access to our Goal Savings Accounts. These accounts enable you to save for fixed periods of time, and they offer attractive returns. Sprint and Marathon Goal Accounts are designed to help you attain your financial goals with agility and resilience, just as their names connote speed and endurance. Multiple accounts with various maturities are available, and profits are distributed every three months.
Personal Goals are created and customized to your liking i.e you pick a preferred category, and a preferred name and even schedule reminders as to when you want to contribute to them.
Shared Goals on the other hand are created and customized to the group’s liking i.e you pick a preferred and a target. Once done, you have an option to invite members you’d like to save with from your contact list.
Benefits
Goal-based Savings: Members can create specific goals within their main goal account, allowing them to allocate funds towards different objectives and track their progress.
Easy Fund Transfer: Members can transfer funds in and out of their goal accounts withoutaffecting the main goal account balance, providing flexibility and control over their savings.
Competitive Interest Rates: The Sprint Goal Account offers a competitive interest rate of 6%, allowing members to earn returns on their short-term savings. The Marathon Goal Account offers a higher interest rate of 10% for long-term savings, maximizing growth potential.
Redemption Flexibility: The Sprint Goal Account allows for quick redemption instantly, providing access to funds when needed. The Marathon Goal Account offers the option to lock funds for a specific period, promoting disciplined savings and potentially higher returns.
Personalized Financial Planning: Members can set realistic savings targets, monitor progress, and receive personalized financial guidance to stay on track towards achieving their goals.
Join Mombo Sacco today and unlock the power of easy, rewarding, and secure savings. Start your journey towards financial freedom with a trusted cooperative society that puts your needs first.