Savings Account
USBL Savings Account
At Ushindi Biashara Sacco Limited, we allow members to save money, often with the benefit of earning interest (dividends) on their savings and using these savings as a basis for accessing loans.
Key Features & Benefits
MemberShip Requirement
Generally, you need to become a member of Ushindi Biashara Sacco to open a savings account. This usually involves filling out an application form, providing identification documents (like your national ID and KRA PIN in Kenya), and paying a registration fee and/or a minimum share capital.
Regular Contributions
At Ushindi Biashara Sacco, we encourage a culture of regular saving. Members may contribute fixed amounts monthly through various methods like check-off systems (for employed individuals), standing orders, or direct deposits. Some accounts may have a minimum monthly contribution.
Interest / Dividends
Unlike traditional banks that offer interest on savings, UBSL typically distribute surplus funds to their members as dividends based on their savings and share capital at the end of a financial year. The dividend rates can be attractive and are often a key benefit of saving with a Sacco.
USBL Savings Accounts
Ordinary / Basic Savings Account
This is a transactional account for regular deposits and withdrawals. It often has a minimum operating balance and earns dividends annually. It’s the most common type and is often required for all Sacco members.
Fixed Deposit Account
Members deposit a lump sum for a fixed period (e.g., 3, 6, or 12 months) and earn a higher, often negotiable, interest rate compared to ordinary savings. Withdrawals before the maturity date may incur penalties.
Holiday/Special Purpose Savings Account
Designed to help members save for specific goals like holidays, education, or medical expenses. These accounts may have specific withdrawal terms.
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Mobilizing fast and reliable financial support
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Organizing communities for stronger financial empowerment
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Strategic solutions for your financial success
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Empowering the underserved with inclusive financial access
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Securing your path to lasting financial freedom
Trust and Worth
Our Clients
Empower Your Financial Journey
How We Empower Your Financial Journey
At Ushindi Biashara Sacco, we believe everyone deserves a chance to thrive. Our tailored services help you save, borrow, and invest wisely. Whether you need a loan for a dream or to save for the future, weʼre here to support you every step!
Our Tailored Services
These are some of our tailored services:
- Savings Account
- Loan Products
- Dividends and Interests
- Member Education
Empower Your Financial Journey
Transform Communities Across the Globe
Ushindi Biashara Sacco Limited has a significant potential to transform the communities around the globe, and there are numerous examples of this happening. Their impact stems from their core principles and operational models
Want To Be a Member?
Ready to Work Together? Create an account with us!
Learn More From
Frequently Asked Questions
These are the type of loans designed to finance projects that aim to improve or develop specific areas, industries, or communities.
- Member ownership and democratic governance.
- Lower loan interest rates than banks.
- Profit-sharing among members.
- Personalized service and community focus.
Becoming a member is simple. Fill out our membership form, provide valid ID, and make a minimum deposit of KES.1500 Visit our office or apply online today.