What is a Faulu Chama Account?

A group savings and transactional account tailored for chamas, investment groups, welfare groups, and self-help groups to manage contributions and investments transparently.

Features

Minimum of 5 members to no maximum
Minimum operating balance KES 2,000
Competitive interest rates of up to 5% p.a.
Access to chama loans and individual loan facilities
No Ledger fees

How does it work?

Minimum of five members to no maximum
Minimum operating balance of KES. 2,000
Competitive interest rates of up to 5% per annum
Access to Chama loans
Individual members can access loan facilities
Easy access to your money through multiple service outlets across the country

Want to know more about Chama Account?

If you want to know more, we've put together some frequently asked questions for you.

You can deposit money into your account in any of the following ways:

Over the counter on any of our branches, inter-account transfers, RTGS Standing instructions and through mobile deposits. Some products may require specific ways to deposit funds into your account.

You may make withdrawals by visiting any of our branches, using your ATM card at visa points, inter-account transfers and through mobile withdrawals. Some products may limit which mode of making withdrawals best works for your type of business.

After 90 days of no activity, an account will be considered inactive. After 180 days of account inactivity, the account is considered dormant. You shall be required to request in writing to reactivate your account.

The current withholding tax will be debited from your account for interests earned on deposits while excise duty will be levied on all transactions done.

Visit us at any of our 24 outlets and get to enjoy a range of financial solutions that are designed to help you effectively manage your finances and grow your wealth.

View the Tariff Guide here.

Find out more about the transactional channels here.