About Savings Deposit
Our Savings Deposit service offers members a secure and convenient way to save money while contributing to the growth of their local financial institution. By depositing funds into an account managed by the cooperative credit society, members can benefit from a safe platform to store their savings.
This service not only helps members grow their savings but also supports the cooperative’s operations, such as lending to fellow members and funding community development initiatives. Every deposit made strengthens the financial foundation of the society, enabling the continued prosperity of the community.
Join us today and experience the benefits of saving with purpose!
Savings Deposit
Opening a savings account with Shamani offers distinct advantages over other banks and cooperative societies. A standout feature is the No Frills Account, allowing users to manage their savings without the need for a minimum balance. This makes it a highly affordable option for everyone, offering the flexibility to operate an account with zero balance and no extra fees. On top of that, Shamani provides a competitive 4% annual interest rate on your savings, which is compounded quarterly. This means your interest is added to the principal every three months, enabling your savings to grow faster. With Shamani’s member-centric approach, you not only enjoy flexibility and convenience but also the opportunity to maximize your savings with long-term benefits.
Questions & Answers
Any SCCSL member is eligible to open a savings deposit account and take advantage of its many benefits.
The No Frills Account allows members to keep a zero balance without incurring fines or fees.Â
No, because of the No Frills Account feature, there is no minimum balance needed for SCCSL’s savings bank account.