This is a specialized savings option designed for young individuals aged between 18 years to 35 years. Whether students, interns, or young professionals, this account offers an opportunity for youth to save and grow their finances while also providing access to youth loans for group projects. This account also provides a platform for youth to cultivate healthy saving habits and financial literacy. Interest Rates for Youth Savings are at 10% per annum.
- Youth Loan Eligibility: The Youth have the opportunity to qualify for a youth loan, which is provided to a group of individuals. This loan option encourages collaboration and entrepreneurship among young members.
- Affordability: Youth savers must demonstrate the ability to save a minimum of 2,000 Kwacha per month towards their shares. These shares cannot be withdrawn unless the member decides to exit Sunbird SACCO.
- Savings Flexibility: There is no minimum or maximum limit for savings deposits, providing youth savers with flexibility in managing their finances. Savings can be withdrawn at any time, allowing access to funds when needed.
- Identification: To open a Youth Savings account, individuals must provide a valid form of identification, such as a National ID, passport, driving license, or school ID.
SUNBIRD SACCO
