This account is specially designed to help members save steadily and securely for their children’s education.
With the rising cost of education — especially at secondary and tertiary levels — this product provides a disciplined, affordable, and rewarding way for members to prepare school fees in advance while earning attractive interest on their savings.
It is a safe and profitable solution that reduces financial pressure when school fee obligations arise.
Product Terms & Conditions
- Operating and/or Open an Account.
- Members will make contributions of not less than Ksh 500 per month
- Contributions can either be through check-off, paybill or cash deposits over the counter.
- Savings will earn attractive interest, credited at the end of each year.
- Lump-sum contributions are highly encouraged to boost savings.
Premature Withdrawal Policy
- If a member withdraws after saving more than half of the agreed contractual period, they will forfeit 50% of the interest earned.
- If withdrawal occurs before half of the contractual period, all interest earned will be forfeited.
In Case of Demise
- In the unfortunate event of the member’s death, the savings will be transferred to the nominated beneficiary.
Benefits to Members
- Savings earn interest at a guaranteed competitive rate
- Open to all eligible TN SACCO members
- Makes saving for children’s education affordable and comfortable
- Helps members plan for education expenses in good time
- Reduces the need to take on expensive or stressful debt for school fees
- Allows partial withdrawals after maturity to pay fees as needed
- Members may continue saving even after the maturity period
This plan gives members peace of mind, knowing their children’s education is financially prepared for — step by step, month by month.