- Junior Savings Account
Account Features
- Designed for children aged 0 to 17 years under the management of a parent or guardian.
- Offers quarterly interest on the savings balance to encourage long-term growth.
- Free over-the-counter deposits and withdrawals are available (only by the account custodian).
- Withdrawals are usually restricted unless for education or medical-related needs, depending on SACCO policy.
Benefits
- Builds early saving habits and financial awareness
- Helps parents plan for school fees and emergencies
- Earnings grow over time through interest
- Safe and secure place to grow a child’s money
- Encourages future SACCO membership upon turning 18
Required Documents
- Child’s birth certificate or immunization card
- National ID of parent or legal guardian
- Passport-size photos of both the child and the guardian
- Completed account opening form
Fees
- No monthly charges
- Free over-the-counter deposits and withdrawals
- Interest credited quarterly based on SACCO performance
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
