Mavuno

Term Deposit Investment

Do you have money that is earning you very little to no returns? Are you tired of losing money in your bank account to bank fees while it earns you nothing? Do you want to generate income through the Sacco?

The Mavuno term deposit is a fixed income investment designed to give you guaranteed and competitive return on your money. It offers flexible investment periods and earns you interest, which you are then paid together with the principal amount invested upon maturity.

With Mavuno Term deposit, you can fix your money for 3 months, 6 months or 12 months and earn a guaranteed interest of 3% - 10% p.a after which you can then withdraw the principal amount together with the interest earned, at the end of the fixed period.

How will you benefit from Mavuno Term Deposit account?

  1. Earn a competitive interest rate of 3% - 10% p.a. depending on amount saved and period of investment. See the interest matrix below.
  2. The interest rate is fixed and guaranteed for the term of the investment, so you don’t have to worry about declining interest rates.
  3. You can invest as little as KES 50,000.
  4. Flexible investment periods to choose from; 3 months, 6 months or 12 months.
  5. No administration fees will be charged.
  6. Receive a free advice slip through your email address upon maturity.
  7. The principal and interest earned is with-drawable upon maturity of contract.
  8. The principal and interest can be rolled over on maturity.
  9. Investing your money in Mavuno Term deposit is a good move for pursuing short-term & long-term goals and for generating retirement income as it guarantees a steady stream of income.

Mavuno Term Deposit Product Features:

  1. A member can have more than one Mavuno term deposit account.
  2. A member may use any of mavuno term deposit as a loan security.
  3. Interest forfeiture if you break the contract before maturity.
  4. Mavuno deposits cannot be used for loan entitlement.
  5. After one year, Mavuno term deposit can be transferred to Sacco Main savings and the member immediately qualifies for a loan of up to three times so long they have been making minimum contributions to Main savings.
  6. Interest earned will be prorated as per below matrix;
Principal Savings 3 Months Interest Earned 6 Months Interest Earned 1 Year Interest Earned
Between KES 50,000 to 100,000
3%
4%
5%
Between KES 100,001 to 500,000
4%
5%
6%
Between KES 500,001 to 1,000,000
5%
6%
7%
Between KES 1,000,001 to 2,000,000
6%
7%
8%
Between KES 2,000,001 to 5,000,000
7%
8%
9%
Above KES 5,000,000
8%
9%
10%

Where will the Sacco invest your Mavuno Term Deposit money?

Mavuno term deposit will be invested in securities and financial instruments that guarantee safety, liquidity and return on investment. For this reason the Sacco investment options will be limited to:

  1. Government Treasury Bills – 91, 182 and 364 days bills
  2. Government one year Bonds
  3. Money market fund – which offers a guaranteed indemnity cover.
  4. Fixed deposit accounts in banking institutions licensed under banking Act.

What will happen upon maturity of your investment?

A member who invests their money in a Mavuno Term deposit account can opt to do any of the following once their investment has matured.

  1. Automatic refund of both principal and interest earned
    The member will automatically receive both the principal and interest earned upon expiration of the investment term, from the Sacco. The monies will normally be transferred to member’s Kenyan bank account of choice. Members are thus encouraged to open a bank account in Kenya to be used for this purpose and shield them from foreign exchange losses and transfer fees that they would incur if they choose to have the money sent back to the U.S.
  2. Roll over both the principal and interest earned
    A member can request the Sacco to roll over both the principal and interest earned for another investment term of 3, 6 or 12 months. The instructions to roll-over must be made in writing and should be received at least one week before maturity. The member can also choose to roll over only the principal amount while the interest is paid to him/her.
  3. Transfer to Sacco Main Savings account or pay for an investment
    On maturity, you can request the Sacco to transfer both the principal and interest earned to your Sacco Main Saving account for the purpose of taking a loan or boosting of Main savings account for future loans. You may also choose to buy a property or participate in other investment opprtunities available through the Sacco.

How to open a Mavuno Term Deposit Account

  1. Download the Mavuno Term Deposit application form complete and email it to payments@kenyadiasporasacco.com
  2. You may use any of the payment methods listed here to transfer your money to the Sacco Mavuno Term Deposit.
  3. Relax, sit back and wait for your investment to grow!

***You may transfer upto 70% of your money from Main savings Account to Mavuno and earn interest. As long you have no loan and don't plan to get a loan soon.

Call the Sacco office at +1 678 398 7728 or +254 792 746 217 incase you need further information.

Ungana na Sacco Ujijenge!
Contact Us


United States:

1320 Roswell Rd
Suite G6
Marietta GA 30062
TEL: 1- 678-398-7728
FAX: 470-465-1066
470-465-1064
Email: info@kenyadiasporasacco.com

Sacco Office Hours:


8.00 AM - 6.00 PM: Mon - Fri
CLOSED: Sat - Sun

Standard Eastern Time Zone


Kenya Office:

Victoria Towers, Ground Floor
Kilimanjaro Avenue, Upper Hill
TEL: +254 792 746 217
Email: info@kenyadiasporasacco.com