Tarajio Account - Savings Plan
Tarajio Savings Plan is your ordinary savings account backed by a Current Account. This allows customers to accumulate progressive savings according to their financial capacity. At the end of a minimum 12 months’ period and 12 regular payments, the customer can automatically benefit from a loan to finance an ambition/ project. The loan amount is up to twice the saved amount in 12 months.
Features:
- The savings plan must be backed by a current account with a letter of undertaking.
- Account opening is free
- Savings must be made through 12 payments via a standing order from the Current account.
- The standing order is for a minimum of Kshs 2, 000.
- The savings plan cannot be terminated before complete loan repayment.
Benefits
- Interest of up to 1% p.a. is paid to the savings account.
- The loan amount is equivalent to twice the amount saved and a maximum Debt Service ratio (DSR) of 50% (whichever is lower)
- Maximum loan duration is 48 months.
- The customer can start another savings plan while benefiting from loan.
- Attractive interest rates on loans.
Requirements:
- Passport size photo.
- Original ID or passport.
- 3 last pay slips.
- Letter of undertaking from employer reference.