Savings Deposits Protection
Are my savings deposits KDIC insured?
No, KDIC is a statutory institution established under the Kenya Deposit Insurance Act, 2012 (KDI Act, 2012). The Corporation is mandated to provide a deposit insurance scheme for customers of member institutions for up to Ksh 250,000. Member institutions include banks, MFBs and Insurance firms.
What is Sacco deposit guarantee fund?
The government is working to introduce this fund to cushion members deposits for up to Ksh 100,000 in the event of a Sacco collapse. It should be operational by the end of the year 2022.
How are my deposits at MOMBO Sacco protected?
Since 2018, MOMBO Sacco has partnered with Britam Life Assurance (Kenya) Limited to insure 100% of your saving deposit at no extra cost. This is a life insurance cover against death, permanent and total disability (PTD).
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