This is a savings account that targets small scale entrepreneurs and does not attract any bank charges. Partly acts as a fixed deposit account for retailers, salonists, tailors, carpenters, mama mboga, and shoe shiners among other micro and small scale traders.
- No ledger fee
- No transaction fee
- No minimum opening balance is required
- No minimum operating balance is maintained
- Can save as little as Kshs. 200 per month or more
- Can withdraw all the money at the end of the contractual period
- Attracts interest is paid depending on the amount saved and the period its been saved for. The interest rates vary depending on the prevailing market rates.
- Gives small scale business people an opportunity to save as low amounts as they want
- Enhances accomplishment of identified activities at a future date, hence future of business is taken care of
- Enhances planned spending.