Why should you open a savings account?
There are obvious reasons why you should consider savings with the society
- Funds are immediately accessible after three (3) months of continuous contributions
- Flexible rate of contributions
- Low interest charge
- Extended loan repayment term (3-36 months)
What are the steps to opening a Savings & Loans Account
It is easy. You simply pick up the membership application form from Nambawan Savings & Loans office or at any of our Nambawan Super’s convenient branch near you and fill out the relevant details.
Complete the Membership Application forms and a Irrevocable Authority deduct form to authorize your nominated rate of deductions to be made to the society and drop it off at any of our convenient Nambawan Super Office near you.
What are the rules for withdrawing savings
- Members may withdraw up to 50% of the net total savings in their General Savings account
- The minimum amount shall not be less than K200.00
- Full refund of savings is due three months after the last contribution is recieved.
- An exit fee of K20.00 will be charged
- Only one withdrawal is allowed per month
When Should I start contributing?
When you have to set a target for yourself to achieve and by when
Draw up a simple budget for your expenses so that any access savings that is put aside into your savings account is not affected till you achieve your target.
Always stick to your commitment and do not deviate from it.