Choice Microfinance Bank

Account

Silver Chama Account

This product will offer an attractive investment medium for Kenyans organized in Solidarity Groups/Self-Help groups (especially those by Jua Kali micro-business operators) to save, invest and grow their wealth for collective development. Women and youth will particularly be encouraged to form groups to save and to enable them access loans.

Silver Chama Account is ideal for:

Individuals

(singly or jointly)

Groups

Registered entities

Key Features of Silver Chama Account

  • Minimum operating balance
  • 5-10 members
  • Easy access to loans
  • Group guarantee for individual member borrowings backed by amount of group’s savings held.
  • Free monthly statements.
  • Individual members of normal groups can borrow up to three times the level of their deposits
  • No Account maintenance/ledger fees
  • Premium interest rates on deposits
  • Over the counter withdrawal
  • Withdrawal at ATM
Download application form