Compulsory saving is directly linked with group loan products and all group loan clients are required to have compulsory saving account that serve as a security deposit or collateral.
upfront compulsory Saving
upfront compulsory Saving are savings deposited upfront by the group client in order to qualify for the loan. All group borrowers are required to deposit 10% of pre loan savings from each approved loan.
Ongoing Compulsory saving
Ongoing Compulsory saving are savings deposited during the life time of the loan. It is the policy that each and every group loan client shall deposit 1% of loan disbursement as a regular saving on monthly basis.