Wekeza Scheme is a withdrawable deposit account where depositors can place short term deposits for specified periods of time usually between three to twelve months. The account targets members with large sums of money that they have put aside for investment and they are fairly certain of the period that they can commit the funds.
Features:
i) Minimum amount: - Ksh.50,000
ii) Interest: As per approved tariff guide
iii) Can be used to guarantee Sacco loans at 100% of wekeza value
iv) Period for fixing as below:
|
Duration of Investment |
Hurdle Rate (p.a) |
|
1 Month |
5% |
|
3 Months |
6% |
|
6 Months |
7% |
|
12 Months |
8% |
|
More than 12 Months |
9% |