LONG TERM DEPOSITS
• This is amount contributed by a member to determine borrowing power from SAcco.
• Also known as share deposits for BoSA, FoSA premium savings for FoSA and Group Premium savings for GRoUPS/ MScA members.
• Minimum monthly deposit is Ksh 3,000 (BoSA), 2000 (FoSA) & 1000 (MScA).
• Higher deposits give you a higher borrowing power.
• Used as security against your loan and those you guarantee.
• Earn rebates/interests.
• Refundable upon termination of membership as per the SAcco By-laws.