Hlalawati SACCO offers a range of savings products that meet different needs of members. Returns on members’ savings are competitive. Members’ savings earn interest monthly and there are no charges effected on members savings accounts. Hlalawati encourages members to save for the following reasons:

  • To provide for unforeseen circumstances or have funds to use in time of emergency.
  • To buy assets instead of using credit that comes at a cost.
  • To provide for family needs.
  • To create wealth and reduce poverty

Savings Product Offered include;

This account was established to encourage members save for school / tertiary fee and educational necessities for their children without relying on credit. Minimum saving amount is E100.00 per month and there are three free withdrawals in a year.

Holiday savings account was developed to encourage members save for their holiday treat as opposed to using credit to finance holiday necessities. Monthly minimum saving amount is E100.00 and two withdrawals are allowed from this account.

  • The minimum monthly contribution is 5% of a member's basic salary with a minimum monthly deposit of E250.00
  • Withdrawals from this savings account are not allowed, also the use of this account to offset a loan is not allowed.
  • Savings shall be pledged as security for loans.
  • Competitive interest rate on this savings account shall be paid annually.

  • This account was created to save for children’s tertiary education fees or provide a financial base for children to use after reaching the age of 18.
  • The minimum monthly contribution is E100.00 per child.
  • No withdrawals from this account are allowed before the child turns 18 years of age. Control of the account shall rest with the principal member or guardian.

  • This account is available to member’s children below the age of 18 years to help instil the culture of saving.
  • The minimum a child can save is E20.00 per month
  • Withdrawals from this savings account may be made only twice a year.
  • This account earns competitive interest, and interest is paid annually.

  • This is a transactional account designed to provide members with a facility to transact at low costs.
  • There 4 free withdrawals annually. A penalty of E15.00 is levied per withdrawal after the 4 free withdrawals.
  • The minimum monthly contribution is E 100.00
  • This account earns a competitive interest rate, which is paid annually.

  • This savings account is designed to assist members avoid using debt to finance Christmas expenses.
  • Minimum monthly contribution is E100.00
  • Withdrawals from this account shall only be allowed in December, starting from the 15th
  • This account earns a competitive interest rate which is paid annually

  • These accounts are made for investment purposes, wherein members lock away an amount of money for an agreed length of time at a guaranteed interest rate.
  • Money invested in these accounts cannot be accessed until the term is up.

Long Term Savings Product Offered include;

  • This investment is designed for all members who intend to set aside a fixed amount of funds for a specified period in return for higher interest rates.
  • The longer the maturity period of the investment the higher the interest rate. The SACCO offers 6-month and 1-year investment periods.
  • The funds may be used to secure a loan.

  • This investment account has been developed to assist members meet their medium-terms and long-term financial goals with ease.
  • Investments on this account shall be made for a period of 3 or 5 years respectively.
  • Constant deposits into this account are allowed.
  • Monthly minimum contribution into this account is E100.00

  • This account was introduced to help members invest towards retirement, so that they will be financially stable during their golden years.
  • Minimum monthly contribution on this account is E100.00
  • A partial withdrawal of 50% is allowed when a member reaches the age of 55 years.
  • This investment matures when a member reaches 60 years of age.

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