This account is ideal for all accounts. On this account you can withdraw as when you need but you cannot withdraw large amounts twice in a day. It is also used as a funding account.
Qualification Criteria
- Minimum opening balance M100.00
- M50.00 entitles one as a member
- Another M50.00 is a funding account
- It enables account holder to withdraw and deposit as often as you like
- This account can be used to make stop order payments into loans account
- The maximum withdrawal per day is M10,000.00. Any amount exceeding M10,000.00 ,two days notice must be given.
Interest
- Interest rate is paid into accounts in excess of M500.00
- Interest rates are competitively tiered ,the higher the balance the higher the rate
- Interest is calculated daily and is paid at the end of the year
Statements
Statements are available on request
Costs
- There is a monthly service fee(M10.00)
- There are no management fees charged
- There are deposit fees (M0.80) per M100(0.8% of the money deposited)
- 1% is charged on coins deposits only
There are withdrawal fees(M1.00) per M100(1% of the money withdrawn)