- Group Savings Accounts
Account Features
- Open to registered and informal groups of 3 or more people.
- Allows joint deposits and withdrawals, with signatures required from designated signatories.
- Offers free over-the-counter transactions for deposits and authorized withdrawals.
- Supports both regular savings and purpose-driven saving (e.g., land purchase, loans, community projects).
- Enables groups to build saving history for loan eligibility as a group.
Benefits
- Encourages collective financial planning
- Promotes trust, accountability, and teamwork
- Helps groups qualify for larger loans or funding opportunities
- Secure way to manage community or project funds
- Strengthens group financial discipline
Required Documents
- National IDs of all group members
- Group resolution form with designated signatories
- Group registration certificate (if available)
- One passport photo for each member
- Completed group account opening form
Fees
- No monthly maintenance charges
- No transaction fees for over-the-counter services
- Minimal account activation fee (if applicable, as per SACCO policy)
How to Open This Account
Visit your nearest Rwanyamahembe SACCO branch with your ID and passport photo. Fill out a simple application form and start saving right away.
- Explore Our Other Savings Accounts
Alternative Banking Channels
We believe that savings are the cornerstone of financial success. Our savings accounts empower you to take control of your financial future, plan for important milestones, and secure your family’s well-being. Here are some of the alternative banking channels
Mobile Banking
TO TRANSACT USING MOBILE MONEY
- Dial *165*6*3# on Mtn *185*7*3# On Airtel
- Enter Sacco ID (Sacco ID is MSACCO)
- Enter 1. to proceed
- Select 1. Deposit
If you would prefer a custom saving account with personal preferences
