Flexible Savings For A Purpose

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 of interest is paid annually.

Sibonelo SACCO Savings

School Savings

To meet school requirements other than through the normal member’s entitlement, members are encouraged to save a minimum of E100.00 monthly.  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 is withdrawable quarterly or annually with interest.  Interest rate of 10% per annum.

Holiday Savings with Sibonelo SACCO

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.

Dlanubeke Savings Investment Plan

Members are encouraged to save a minimum of E100.00 towards this investment so as to create a pool of funds for future investments as individuals or groups.

College Savings and Tertiary Education Savings with Sibonelo SACCO

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 University 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.

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. All members are eligible to save with this fund but it shall be mandatory for those within and above the age of 40 years.

Retirement Fund with Sibonelo SACCO

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