MOMBO - A digital Sacco 1.0.150

Mombo Sacco, a recognized digital savings and credit cooperative in Kenya, offers an array of benefits designed to facilitate seamless and profitable saving for its members. The cooperative aims to simplify the savings process while enhancing the financial well-being of its clientele.

Key Advantages of Saving with Mombo Sacco:

• Convenience: The mobile account opening process is streamlined, taking less than 10 minutes through an intuitive app that enables immediate savings.
• Transparency: Members can access their account information and terms via mobile devices, reinforcing a commitment to transparent practices.
• Competitive Profit Rates: Mombo Sacco provides attractive fixed savings returns, fostering quicker growth of members' funds.
• Flexibility: A variety of savings accounts are available catering to different financial situations and investment experience, allowing members to choose what aligns best with their goals.
• Insurance: Member savings are secured by Kenya’s largest insurer, ensuring 100% protection and offering peace of mind.
• Financial Literacy: Resources for financial education are readily accessible through the Mombo app, complemented by “Stadi,” an AI assistant for informed decision-making.
• Reasonable Loan Options: Membership includes access to affordable loans, with the benefit of a 50% interest discount for early settlement of installments, contributing to financial stability.

Flexible Saving Accounts:

Mombo Sacco offers five distinct savings accounts tailored to varying levels of commitment and goals, each providing competitive monthly interest rates that can be withdrawn annually. Members may hold only one account at a time.

• Bronze: Minimum monthly savings of Ksh 500, yielding a 4% annual profit.
• Silver: Minimum monthly savings of Ksh 2,500 with an annual profit rate of 4.5%.
• Gold: Minimum monthly savings of Ksh 5,000 yielding a 5% annual profit.
• Platinum: Minimum monthly savings of Ksh 10,000 with a 6% annual profit rate.
• Emerald: Minimum monthly savings of Ksh 30,000 with an 8% annual profit rate.

Corporate/Chama/Group Saving Accounts:

Mombo Sacco allows corporates, Chamas, and groups to establish five group savings accounts, which provide consistent saving opportunities along with substantial monthly returns. Members may hold only one account at a time.

• Stawi: Minimum monthly savings of Ksh 10,000 with a 4% annual return.
• Shaba: Minimum monthly savings of Ksh 30,000 yielding a 6% annual return.
• Fedha: Minimum monthly savings of Ksh 50,000 providing a 7% annual profit.
• Dhahabu: Minimum monthly savings of Ksh 100,000 yielding an 8% annual return.
• Sumaridi: Minimum monthly savings of Ksh 300,000 with a 9% annual earnings rate.

Goal Savings Accounts:

The cooperative also provides Goal Savings Accounts for individual and group members, designed for both short-term and long-term saving objectives. These accounts come with various features tailored to enhance members' ability to achieve their financial aspirations.

• Goal-based Savings: Set and monitor progress towards various objectives within the main goal account framework.
• Easy Fund Transfer: Flexibility is offered through the ability to transfer funds without disrupting primary balances.
• The Sprint Goal Account, with a competitive interest rate of 6%, optimizes short-term saving returns. In contrast, the Marathon Goal Account, designed for long-term growth, provides a robust interest rate of 10%.
• The Short-Term Goal Account allows for redemption within 48 hours for prompt access to funds while the Long-Term Goal Accounts promote disciplined saving through asset locking over set terms.
• Personalized Financial Planning: Members receive support in setting their goals and tracking progress to foster successful outcomes.

Mombo Sacco positions itself as a reliable partner in financial stability and growth. Joining this cooperative provides members with accessible and secure avenues for saving while prioritizing their needs.