WITHDRAWAL FROM THE SACCO QUERIES?

  1. What is the procedure of withdrawing from the Sacco?
    You need to apply for withdrawal from the Sacco in a formal signed letter giving the Sacco sixty days notice in line with Sacco by laws. The letter should be accompanied by your ID copy.
  2. Can I partially withdraw my deposits?
    No, no member will be allowed to partially withdraw part of his /her deposits or offset part of the deposits against an outstanding loan unless he/she ceases to be a member.
  3. Can I withdraw my deposits from the Sacco Instantly?
    Yes you can withdraw your deposits instantly but the Sacco will charge you a commission 10% of current deposit amount in lieu of withdrawal notice of 60 days.
  4. Can I withdraw my deposits when I have guaranteed another member?
    A member cannot with his /her deposits that have been pledged towards another member loan unless that member has cleared that loan on has submitted a substitute guarantor to replace you.