Compulsory Savings

This type of saving is mandatory deposit that a customer’s saves in order to obtain the credit service he or she needs or after obtaining it. It is an asset for the customers and serves as additional guarantee mechanism to ensure the repayment of loan.  This product includes the following types of saving deposits.

Pre-Loan Savings

 It is savings that any borrower makes deposit before taking the loan by considering the amount and type of loan. There are two ways in which the customer can withdraw the savings they have deposited. One before taking the loan, but when he/she decides to abandon the loan plan, he will be able to take the appropriate interest for the period of the savings. However, after taking the loan, he/she cannot withdraw until he/she has paid off the debt.

Monthly saving

Monthly mandatory savings is a type of savings that customers save together when they repay their loan every month after taking a loan. For this savings customers are required to pay monthly on the loan amount taken and they can withdraw   this savings only when they finish their loan or subject to pay the loan when defaults occurred.