Differences between Shares and Savings
The Differences between Shares and Savings. Share on facebook Share on twitter Share on linkedin Share on whatsapp Welcome to the Mombo Sacco family. Voted the best Sacco in Kenya …
Introduction:
When it comes to savings, Mombo Sacco is your trusted financial partner. Not only does Mombo Sacco provide a secure and convenient platform for saving, but it also offers competitive interest rates that can help your money grow with confidence. In this article, we will explore the benefits of Mombo Sacco’s interest on savings, including the withdrawal of profits and the interest rates for the flexible and chama accounts.
The Power of Mombo Sacco’s Interest:
Mombo Sacco understands the importance of your hard-earned money working for you. That’s why it offers attractive interest rates to help your savings multiply and flourish. With Mombo Sacco’s interest on savings, you can make your money work harder and enjoy the following benefits.
1. Accelerated Savings Growth:
Mombo Sacco’s competitive interest rates ensure that your savings grow at a faster pace. Every month, your savings earn interest, allowing your money to compound and multiply over time. This means that you can reach your financial goals sooner than you thought possible.
2. Transparency and Peace of Mind:
At Mombo Sacco, transparency is key. You can access all the details of your savings account and terms and conditions directly from your smartphone. Through our Mombo Application, you get visibility into your savings, and a peace of mind knowing that your money is growing steadily.
3. Flexible Saving Options:
By offering a range of flexible savings accounts, Mombo Sacco caters to your unique financial needs and objectives. Whether you are just starting small or aiming higher, there is a savings plan that aligns perfectly with your circumstances. You have the flexibility to upgrade or downgrade your savings account as needed, without any additional charges.
4. Interest Rates and Profit Withdrawal:
Mombo Sacco offers competitive interest rates for its flexible and chama accounts. The interest rates per annum are as follows:
– Flexible Savings Accounts:
- Bronze: Minimum monthly saving of Ksh 500 with an interest rate of 4% per annum.
- Silver: Minimum monthly saving of Ksh 2,500 with an interest rate of 4.5% per annum.
- Gold: Minimum monthly saving of Ksh 5,000 with an interest rate of 5% per annum.
- Platinum: Minimum monthly saving of Ksh 10,000 with an interest rate of 6% per annum.
- Emerald: Minimum monthly saving of Ksh 30,000 with an interest rate of 8% per annum.
– Chama/Group Savings Accounts:
- Stawi: Minimum monthly saving of Ksh 10,000 with an interest rate of 4% per annum.
- Shaba: Minimum monthly saving of Ksh 30,000 with an interest rate of 6% per annum.
- Fedha: Minimum monthly saving of Ksh 50,000 with an interest rate of 7% per annum.
- Dhahabu: Minimum monthly saving of Ksh 100,000 with an interest rate of 8% per annum.
- Zumaridi: Minimum monthly saving of Ksh 300,000 with an interest rate of 9% per annum.
Profits on the flexible Individual and Chama accounts can be withdrawn at different intervals. For flexible savings accounts, the cumulated profit is paid once annually in January. On the other hand, chama accounts’ monthly returns accumulate and can be withdrawn annually in January.
Conclusion:
Mombo Sacco’s interest on savings empowers you to take control of your financial future. With competitive rates, transparency, and flexible options, Mombo Sacco makes saving easier, more rewarding, and safer. Whether you’re saving for a rainy day, a dream vacation, or a long-term financial goal, Mombo Sacco is your trusted partner every step of the way. Start your saving journey with Mombo Sacco today, and enjoy the benefits of interest on savings that will help your money grow with confidence.
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