Ibimina

Ibimina Savings


Product Description

IBIMINA Savings Group is a group of people who save together in a safe, convenient and flexible way. Savings Groups are owned, managed and operated by the members, using a simple, transparent method whereby groups accumulate and convert small amounts of cash into savings with a purpose to get individual loan or as a group targeting to achieve the pre-determined project. The products facilitate the customers to saving for achieving the goals determined by the group.


Features
  • Interest between 4% -7%.
  • Interests are accrued on daily basis and be posted at the end of the year.
  • Minimum amount to bear interests is Rwf 50,000.
  • Withdraw any time for the amount above regular savings ( Depending on group internal rules).
  • No account maintenance fee.

Benefits
  • Saving account Earning interests.
  • Exemption of account Management fees.
  • Possibility to get the loan.
  • Withdraw any time.
  • The more you save the more you earn.
  • Access to other Bank products.

Requirements
  • Fill an account application form.
  • MOU for Friendly Groups, Chorus funds and Mutual fund.
  • ID or passport, Passport size photo for signatories.
  • Governing Board resolution for opening account for Friend Groups, Chorus funds and mutual funds.