Y-Save

Y-Save Objectives

To teach the members the culture of savings, Encourage members to save and use their savings constructively.To encourage its members to reach out and share the Gospel of Christ at their workplaces and within their community. read more

Core Values

God fearing, Integrity, Operational Efficiency, Customer Focus, Unity and Teamwork, Financial Wellbeing read more

Target Account

We all have at one time desired to make savings towards achieving a certain target, be it a smart phone, house, car, plot of land, marriage etc…This account works like a fixed deposit account. It has three categories:
Short Term, Medium Term & Long Term. With interest of 7.5%, 8% & 11.5% respectively.

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Children's Account

Nothing is more important to you than your children. At Y-Save we understand that securing your children's future is important to you and that's why Y-Save has the children's account.
Access to money on this account is only when the children are over 18 years. This account earns an interest of 12% PA, and the interest compounding itself annually until the expiry period.

Personal Loans

At Y-Save we understand that you have dreams and ambitions about improving the quality of your life. We know that you would for example like to buy new furniture or buy a plot of land, fund opportunities or emergencies

School Fees Account

The account holder is saved the hustle of queuing up in the banks as the office makes the payments for the school fees payments on behalf of the members, as long as the bank slips are handed in at least two weeks before beginning of term, and if there are sufficient funds on the members account to meet the school fees obligation. It encourages disciplined savings towards school fees.

Medical Account

Has a medical emergency ever befallen you or your loved one, catching you financially off guard with no quick source of income? The medical account was created to address this very need.
Access to money on this account is granted with proof of a medical bill or receipt issued by a Medical institution. This account attracts and interest of 7% PA.

Pensions Account

Everyone needs to plan ahead for retirement. People are living longer and have healthier lives, so it is more important to consider your retirement income today than ever before. Yet, too few of us understand the real facts about pensions. A pension is a long-term investment designed to provide an income in retirement. You make contributions to your individual account

Shares Account

Shares give you ownership in Y-Save and it is mandatory that each member should have at least one share. Members can purchase shares anytime by depositing money in the bank and indicating the number of shares they would want to buy. Presently the price of the share is 35,000/=

Investment Clubs

You can Join any of our Investments clubs.

Agriculture

Real Estate

Securities

Tourism

Transport

For more information on the Investment clubs, please contact admin@y-save.org

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Target Account

Savings towards achieving a certain target.

Children's Account

This account earns an interest of 12% PA.

Personal Loans

All Your dreams need financing to become a reality.

School Fees Account

Benefits: Easy to open, Affordable, No account maintenance balance or monthly charges.

Medical Account

Best for members who do not have medical insurance or their loved ones.

Pensions Account

The money on this account earns an interest of 11% PA

Shares Account

Presently the price of the share is 35,000/=

Investment Clubs

Y-Save features in the New Vision
How Y-Save works
To be part of the Y-Save savings group, you have to be a member of Watoto Church, but the church itself is not involved in the activities of the organisation.
“In as much as we are independent of the church, we would not do anything that is in contradiction to what it believes of practices”. “Unlike banks whose loans are profit-motivated, Y-Save is solely for the growth of our members whenever we lend them money. We will give you money to expand your business or buy an asset like land, but not a loan to buy a car or organise a wedding,” Kisuule explains. He says loans given to members are developmental and not burdens. They are good debts and not bad debts that may end up bankrupting a borrower. “The goodness about Y-Save is that the majority of the members are savers, not borrowers. Of the over 900 members, it is only 250 that have loans. We give 80% of one’s savings and if you want an amount more than your savings, you have to get guarantors,” he says.
Today, members have to deposit a minimum of sh100,000 every month on their savings account and maintain a minimum balance of sh2.5m non-withdrawable... Read more