Ordinary Savings
As a way of promoting the culture of savings, members are compelled to save a minimum of E200.00 every month. This also serves as a borrowing power to each individual member. A market rate interest is paid annually.
| Basic Salary | Monthly Savings |
|---|---|
| E2,000 to E10,000 | E200.00 |
| E10,001 to E15,000 | E300.00 |
| E15,001 and above | E400.00 |
Sibekelo Retirement Fund
In order to enable members to spend a luxurious Life after retirement, this fund was introduced. The minimum savings per month is E100.00 and is withdraw able only upon retirement of member and shall require written proof from employer. Interest rate of 10.5% per annum, however this interest earned shall be ploughed back into the fund annually. This fund is compulsory for all members below the age of 60
School Savings
To request for school requirements, members are encouraged to save a minimum of E100.00 monthly and is withdrawable anytime through our mobile services *604#. The savings earn 10% per annum.
Holiday Savings
In order to enable members to spend a luxurious Christmas, Party time and Holiday time with ease, this scheme was introduced. The minimum savings per month is E100.00 and it’s withdrawable anytime “Nomanini” is through our mobile services *604#. Interest rate of 10% per annum
Fixed Deposit
Members with excess funds are encouraged to invest under this fund, which will earn an interest of 11% per annum. The minimum deposit is E500.00 and is fixed for12 months.
Dlanubeke Savings Investment Plan
Members are encouraged to save a minimum of E100.00 monthly towards this investment so as to create a pool of funds for future investments as individuals or groups. Interest rate of 10% per annum.
Career Fund
To encourage members to save towards tertiary education needs for their children as Government scholarships are not easily accessible. The minimum savings per month is E100.00 and is withdraw able only when the beneficiary produces an acceptance letter to any college of choice with interest. Interest rate of 10.5% per annum however, this interest earned shall be ploughed back into the fund annually. This fund should still benefit the beneficiary even after the Principal members has passed on until it ceases.
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