Savings are done on a monthly basis, usually through check-off, target members who have a need to accumulate small savings for a long time, which they can withdraw when employment ceases prematurely, when they retire or when seriously ill.
A member saves a minimum of Kshs 300 per month through check off. all deposits from Kshs 300 and above earn an interest which is calculated at the end of the year. Interest rates are on a graduated basis that is the higher the deposits the higher the rate. Withdrawal of 25% of the deposits is allowed every three years or when a member leaves employment either prematurely , retires normally or is critically ill.
Crystal savings cannot be used to offset an individual or a defaulter himself or has pledged the savings as a collateral for a loan. Withdrawal fees shall apply as stipulated in the FOSA tariff guide.
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