Wekeza Scheme on offer with the following product features:
- Minimum earning balances is KES 50,000
- Members cannot convert their current deposits in the Sacco
- Interest is accrued daily.
- Wekeza Scheme has an interest return rate of 10% p.a.
|Duration of Investment||Hurdle Rate (p.a)|
|3 Months||7%(prevailing minimum rate as per CBK guidelines)|
|More than 12 Months||11%|
- Fixed deposit Periods are Three , Six, Nine and Twelve Months
- On maturity, the investor can;
- Re-invest the whole amount
- Withdraw part and re-invest the balance
- Withdraw the whole amount (Principle plus interest)
- The Fixed Deposit Account can be used to secure loans at 100%
- Withdrawal before the fixed period will lead to loss of the interest income.
- The more you fix, The longer the time, the higher the return
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