Impumelelo Savings and Credit Cooperative Society

Umtfunti Investment

This is an investment product for retired members.

A lump sum of not less than E30,000 with traceable records shall be deposited once a year

A top-up of not less than E2,500 shall be allowed once a year.

There shall be no monthly deposit.

non-withdrawable untill maturity at 12 months.

Interest shall be paid out or re-invested upon maturity.

On resignation, the member shall be subjected to a penalty of 5% of the interest earned.

This is an investment product with an attractive interest.

A member shall deposit a minimum of E3,000.

Monthly deposits shall be accepted as top up, not exceeding total provisional shares of E60,000.

Maximum investment shall not exceed E60,000.

Can be transferred to ordinary savings.

Can be used as collateral.