Kencream SACCO

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Home FOSA ACCOUNTS

(1) Super Accounts

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Super Account

This is a withdraw-able deposit account that members use as a transaction account and can also be used for saving purposes. The account caters for member’s regular transactions like:

  • salaries and loans processing
  • Cash and Cheque Deposits
  • Electronic funds transfers
  • standing orders e.t.c

Super Account

The account maintenance balance is Kshs 1,000 and the minimum interest earning balance is Kshs 15,000.

The interest is calculated monthly and credited at the end of the year that is 31st December every year.

Super Account holders are legible for ATM cards services which shall be issued and operated in accordance to the society’s ATM card procedure.Withdrawal Fees shall be in as stipulated in the FOSA Tariff Guide.

Need Help?

Please Feel Free To Contact Us. We Will Get Back To You.

Email: info@kencreamsacco.co.ke
Phone: 020 3980 100

(2) Fixed Deposit Account

Fixed Account

The fixed deposit account is a withdraw able deposit account where depositors can place short term deposits for specified periods of time between one to 12 months. The account targets members with large sums of money that they have put aside for investment and they fairly certain of the period that they can commit to.

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Minimum deposit is Kshs 50,000 . Interest is computed daily and credited at the maturity of the contract period. Accrued interest is fortified if the depositor withdraws the funds before the maturity date. The customer is issued with a certificate of deposit  upon depositing the money.

The certificate of deposit details the amount deposited, date deposited, interest rate applicable, contract period and the maturity date. Upon maturity, the depositor can roll over both the principal interest.

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Need Help?

Please Feel Free To Contact Us. We Will Get Back To You .

Email: info@kencreamsacco.co.ke
Phone: (254)703-756-350

(3) Jazajaza Account

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Email: info@kencreamsacco.co.ke
: kencreamsacco@newkcc.co.ke
Phone: (254)703-756-350

Jazajaza Account

The jazajaza account was formulated to be a withdraw able deposit account that targets savers who have need to accumulate funds for investment over time and do not wish to tie the deposits for a specified period in the SACCO.

Need a Jazajaza Account?

The account allows monthly savings of kshs. 5000 through check off.

Minimum interest earning balance is Kshs. 10,000. Interest is on a graduated rate i.e the higher the amount the higher the interest. Withdrawals are done as and when a member wishes to do so.

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(4) Junior Club Account

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Junior Account

This account enables parents to plan and save for their children’s education through savings accumulation for a long period of time.

Junior Club Account

A member may open an account for each and every child as he wishes. The account name should be in the child’s name and the parent has the sole mandate to operate it.

The minimum monthly saving for each account is ksh 250 mainly through check off but any other mode is also acceptable. Withdrawal from the account is permitted after every four months provided a balance of Kshs 500 is maintained.

Withdrawal before four months are over may be permitted at a charge of Kshs 150 per withdrawal. minimum interest earning balance is Kshs. 5000. The interest rate will be based on amount and time of deposit i.e the higher the amount and the longer the period the higher the rate. Withdrawal fees shall apply as stipulated in the FOSA Tariff Guide. All children with a junior club account will receive a birthday card every year.

Need Help?

Please Feel Free To Contact Us. We Will Get Back To You.

Email: info@kencreamsacco.co.ke
kencreamsacco@newkcc.co.ke
Phone: (254)703-756-350

(5) Busara Account

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Email: info@kencreamsacco.co.ke
Phone: (254)703-756-350

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Busara Savings Account

This is a withdraw able deposit account which gives members a facility to save for certain eventualities like education, holiday, Christmas festive season, weddings and others .

Want to save for a Certain Occasion?

A member is required to save at least Kshs 1,000 per month usually through check off or standing order.

New members have a minimum savings period of 6 months. minimum interest earning balance is Kshs 7,000. Interest is calculated monthly but credited at the end of the year. withdrawal fees apply as stipulated in the FOSA tariff guide

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(6) Chama Savings Account

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Email: info@kencreamsacco.co.ke
Phone: (254)703-756-350

Savings Account for your Chama

This is an account organized for groups. The members of the group need not to be SACCO members provided one of the group members is a Kencream SACCO’s member.

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The group must have at least three signatories to the account. minutes of the group meeting authorizing the officials to open the account shall be required to open the account.

The group must have a name preferably registered. The mode of contribution is check off, standing order or by direct deposit. Minimum account maintenance balance is Kshs .2000. Minimum interest earning balance is Kshs. 20,000

(7) Crystal Account

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Crystal Account

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.

SHOPPING FOR TRAVELERS INSURANCE?

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.

Need Help?

Please Feel Free To Contact Us. We Will Get Back To You.

Email: info@kencreamsacco.co.ke
Phone: (254)703-756-350

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