Below is a list of accounts to open at Tembo Sacco and requirements

Share Capital

It represents member’s ownership of the SACCO, It is non withdrawable, but transferrable to another member of the Sacco.

The minimum share capital per member is Ksh.20, 000. (1000 shares of ksh.20 each). This means the first Kshs.20, 000 contributed by the member is transferred automatically to the shares.

The returns are lucrative 2018 and 2019 rate was at 20%.

Sacco Deposits Contribution

Deposits represents money that a member can be refunded back upon placing prior notice when they decide to leave the SACCO.

The minimum monthly contribution is Ksh.1000. Deposits act as multiplier when a member is applying for a loan and can be used to guarantee other members loans.

Deposits attract annual interest, and Tembo has consistently paid up to 11.5% prorated interest over the years.

BOSA Special Savings

BOSA Special Savings is a product that targets long term plans such as holiday, construction, school fees, weddings and special projects. Its minimum monthly contribution is Ksh.500. Currently it earns 7% interest payable semiannually i.e. July and January.

BOSA Special withdrawal can be done once a year upon giving a 30 days prior notice.

Benevolent Fund

Benevolent Fund is an insurance policy for members that covers the member and immediate family members against death. One must be a member with the mandatory Share Capital ksh. 20,000/=


  1. Fill in the benevolent application form
  2.  Registration fee – Ksh.300 (One off)
  3. Annual Premium – Ksh.2500.
  4. The premium will be deducted from the member’s savings and the member should ensure that the same is replaced in the course of the year.
  5. The cover will pay the following in case of death.
    •  Self – Ksh.70,000
    • Spouse – Ksh.50,000 ( one spouse)
    • Parent – Ksh.40,000 (Upto 4 parents, own parents and parents in law)
    • Children – Ksh.40,000 (Upto 4 Children) You can cover more at an extra cost of Ksh.120 per child.
  6. The cover has a three months (90 days) waiting period from inception on natural deaths, and non for accidental deaths
  7. Principal Member and Spouse minimum entry age is 18 years and Maximum age at entry is 75 years. Maximum coverage age is 80 Years.
  8. Parents/Parents in Law maximum age entry is 75 Years and Maximum coverage is age 80.
  9. Definition of a child: A child born to the members of the society who is unmarried and under the age of 25 Years. Insurable age is from 6 months to 25 years’ subject to the child being still unmarried and in the custody of the parents/members.

NB: A members who exits the Sacco ceases to be a benevolent member.

FOSA Savings Account

  1. Minimum account balance Ksh 1,000
  2. Minimum interest earning balance Ksh 5,000
  3. Attracts interest at a rate of 4% per annum credited end of the year
  4. Funds accessible through ATM
  5. Ideal for emergency savings
  6. The account is opened automatically when one joins the Sacco

Salary Account

  1. Minimum account balance Ksh 100
  2. Funds accessible through ATM and Mobile
  3. Ideal for salaried members

Hekima Account

  1. Savings it through check off, cash deposit or cheque deposit
  2. Minimum account balance Ksh 1,000
  3. Minimum interest earning balance Ksh 10,000
  4. Attracts interest at a rate of 7% Per annum credited end of the year
  5. Withdrawals limited to 3 times a year
  6. No access to ATM
  7. Ideal for savings for School Fees, Holiday and other special occasions / special items

Tembo Junior Savings

  1. Targets juniors below 18 years
  2. Minimum monthly contribution ksh.500
  3. Earns interest at 8% P.A
  4. Withdrawals limited to 3 times a year

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February 22, 2024

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