- Compulsory Savings Account
Account Features
- Members are required to make regular, scheduled contributions (e.g., monthly or biweekly).
- Withdrawals are restricted and may only be allowed under specific conditions, such as account closure or loan collateral use.
- This account is often used as a requirement to qualify for loan access.
- Contributions build over time and are eligible for dividends, depending on SACCO policy.
Benefits
- Encourages financial discipline and long-term savings
- Enhances eligibility for loan products
- Earns dividends from SACCO surplus (when applicable)
- Creates a strong financial profile within the SACCO
Required Documents
- Valid National ID
- One passport-size photo
- Completed account opening form
- Next of kin details
Fees
- No monthly charges
- Restricted withdrawals protect savings discipline
- Free over-the-counter deposit services
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
