Our clients save mainly for:
The security (expressed by the agreement of the BNR);
The easiness of access to the service (measured in hours of opening and closing, in efforts of times and costs of transaction);
The liquidity (of the savings capable to be withdrawn whenever so necessary).
In terms of savings, CLECAM-EJOHEZA Ltd actually offers the following types of saving deposits:
i. Interests-bearing deposits:
This is an amount of money deposited in account, the owner of the account decides the period for which that money delays and CLECAM-EJOHEZA will give him/her an interest basing on the amount and the time for which the money was not withdrawn. This period can be of three months, six months, nine months or one year and if at the end of the agreed period, the owner of the account does not demand for rescheduling, the account is considered to be a non-interest-bearing account.
The following table shows in summary the rate of interest attributed for the interest-bearing deposits:
Period /Amount 3 month 6 months 9 months 12 months
RWF 50,000 – RWF 100,000 4,5% 5% 5,5% 6%
RWF 100,001 – RWF 500,000 5% 5,5% 6% 6,5%
RWF 500,001 – RWF 1,000,000 5,5% 6% 6,5% 7%
> RWF 1,000,000 6% 6,5% 7% 7,5%
In terms of deposits motivation or encouragement and for clients willing to save more than RWF 5,000,000, in such cases, CLECAM-EJOHEZA Ltd can attribute a bargained interest rate that will be between 6% and 10%.
If it comes that the money on an interests-bearing account is withdrawn before the agreed period ends, in such cases, CLECAM-EJOHEZA Ltd retains an interest of 2% per month calculated on the money from the time it is withdrawn until the end of the agreed period.
ii. Non interest bearing deposit:
This is deposit on the current account. It is a non-interest-bearing deposit because the owner of the account canperfom deposits and withdrawals at any time.
iii. Deposit from children “Kwizigamirabitangirakare”:
This is a deposit on account opened by a parent or a tutor on the behalf of a child (a person under the age of 18 years). A parent or a tutor that wishes good future for the child can open an account for that purpose with CLECAM-EJOHEZA Ltd and so the child is familiarized with saving activities in his/her teen-age.
This can be a non-interest-bearing account or an interest-bearing account after a certain period depending on the choice of the parent or the tutor that legally represent the child.