Statutory Savings Facility

Statutory savings are funds that must be contributed by a member as a condition for receiving a loan. Statutory saving is popularly known as a compulsory savings

Products benefits

  • Enforce savings culture to members
  • Serve as an additional guarantee mechanism to ensure the repayment of loans
  • Demonstrate the ability of members to manage cash flow and make periodic contributions
  • Help to build the assets base of members
  • Minimum monthly contribution is TZS 20,000. However, a member can contribute more than this rate depending on his ability and needs