This is a non-withdrawable savings product for retirement.

• Joining is Voluntary.
• Minimum saving is E50.00.
• It acts as immediate pension after retirement.
• It act as collateral for member’s loan.
• Interest shall be calculated annually at a rate similar to school or holiday savings.
• This product is non-withdrawable until retirement however, 30% can be withdrawn once in 10 years.
• The member shall notify the office in writing, 2 months before the retirement date.
• If the member resigns before the retirement date funds will be accessible.
• The lump sum is payable within 2 weeks of retirement as per request.

This is a long term saving product/investment fund where money is saved for particular period, which is not less than five (5) years.

The lump sum deposit can only be withdrawn after a period of not less than 5 years (60 months).

The minimum amount on fixed deposit is not less than E 1,000.00 (One thousand Emalangeni).

All members are eligible to save for Umcweba Fixed deposit.

Umcweba can be used as security for a loan obtained from Impumelelo SACCO. Withdrawals in this case shall not be permitted where the full deposit secures a particular loan.

Certificate of Umcweba Fixed Deposit shall be issued when a member deposits into the fund.

No withdrawals will be accepted before the maturity date of the fixed deposit. However, the board may allow withdrawals in the event that the member dies, retires from employment or terminate membership with Impumelelo.

A member who withdraws his/her fixed deposit before maturity will be charged 20%.

Transfer of withdrawable savings to Umcweba Fixed deposit shall be permissible on approval by the Manager/ Board of Directors.

This is a long-term saving product for children below 18 years.

Every child must join under principal member.

The monthly minimum savings shall be E50.00.

The amount shall be deducted from the principal member.

the savings shall be non-withdrawable untill the child is 18 years.

The principal member shall not borrow in any loan product against children’s product.

To serve as collateral for principal member’s loans.

Interest from this product shall be paid out annually or re-invested as per member’s choice.

This is the money saved by members for the year end entertainment.

can be withdrawn on request.

earns interest for the member.

This money is saved to pay school fees.

can be withdrawn on request.

earns interest for the member.