Ahoyi primary saver account(APS)

This is a mandatory savings account.

  • The APS can be used as security for Ahoyi Loans. The higher the savings amount, the higher the loan the member can get.
  • The APS is an interest-earning account.
  • The minimum mandatory savings contributions for Individuals is R100/$5 per month.
Ahoyi kids savings account

This is an interest-earning account for children of Ahoyi members. This account encourages children to save for specific goals like (Birthdays and Xmas Fund). The objective is to instill a culture of saving from a young age.

  • The minimum mandatory savings contributions for Kids is R50/$2.50 per month.
Savings policy
  • Minimum saving account for each member applies.
  • Start-up Interest bearing account of Prime minus 2.25%. Savings Account will have a base 5% interest per year.
  • The normal Savings Account Interest will be revised after adjusting for the performance of the Loan Book.
  • Any amount above the minimum prescribed monthly saving amount of R100/$5 is withdrawable after 6 months of saving after giving a months’ notice.
  • The minimum saving amount is withdrawable after 12 months upon giving 2 calendar months’ notice.
  • A member can access a Loan after 6 months of continuous saving.
  • The maximum Loan Amount is determined by the member’s savings balance multiplied by a factor.
  • The starting factor is 1,5.
  • The factor amount can be adjusted by the Credit Committee at the time of the loan application.