Voluntary Savings

The clients are also encouraged to contribute voluntary savings. 

An interest rate of 5% p.a. is credited half-yearly. In case of closing the account, the interest will only be paid for the last interest calculation period.

Conditions

  • The member is also encouraged to contribute voluntary amount from Nu. 50 to Nu. 3,000 per month.
  • Additionally up to Nu. 20,000 within the last 12 months can be saved. It is allowed to withdraw the whole amount at any time.
  • If sufficient funding, the withdrawal can be made on the spot from the collection available. Otherwise the member has to inform the field officer during the previous center meeting, but at least one week before the next meeting.
  • On voluntary member’s contribution an interest rate of 5% p.a. is credited half-yearly. In case of closing the account the interest will only be paid for the last interest calculation period.

Register as a member of RENEW Microfinance:

  • Step One: Briefing from Loan Officer or Branch Officer
  • Step Two: Open a Savings Account

Documents Required for Registration

  • Passport Size Photo of the applicant (2 copies)
  • ID Photocopy of the applicant
  • Health Card Photocopy (for minors)
  • ID Card Photocopy of Nominee