Products & Services

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Savings Products

Hlalawati SACCO offers a range of savings products that meet different needs of members. Returns on members’ savings are competitive. Members’ savings earn interest monthly and there are no charges effected on members savings accounts. Hlalawati encourages members to save for the following reasons:

Savings Product Offered include;

No Type Description
1. Member deposit
  • Member deposit is a Compulsory savings account (Non-withdrawal Deposit)
  • The minimum mandatory monthly contribution is 5% of a member’s basic salary with a minimum of E250.00.
  • Non-withdrawable deposits shall be contributed on a monthly basis
  • This account will earn competitive interest rate payable annually after audit has been completed.
2. School savings Account
  • This Account was developed to help members save for educational needs.
  • The minimum monthly contribution is E150.00
  • Three withdrawals are permissible a year.
  • Competitive rate is payable on the account.
3. Holiday Savings Account
  • The Account Holders make savings into this account for holiday necessities with a minimum period of 6 months before any withdrawal can be done.
  • The minimum contribution per month is E150.00.
  • Competitive rate is payable on this investment at year end.
  • Holiday savings withdrawals shall be processed within 48 hours.
4. Withdrawable Savings Account This is a transactional account designed to provide members with a facility to transact at low costs.

This is a Withdrawable savings account.

  • The minimum monthly contribution is E150.00.
  • Interest paid depends on the current market rates.
5. Christmas Savings Account
  • This saving account is designed to assist members avoid using debt to finance Christmas Expenses.
  • Christmas Savings Account also gives members an opportunity to treat themselves well after year end.
  • Minimum monthly contribution is E200.00.
  • Withdrawal from this account is only allowed in December from the 15th.
6. Children Savings Account
  • This account is designed to create an opportunity for members to save for tertiary needs or provide any financial base for their children. Withdrawal is only allowed, when a child attains the age of 18 years.
  • The minimum monthly contribution on this account is E100 per child. Competitive rate is payable on the account and is reinvested to grow the investment.
7. Junior Account
  • This account is available to member’s children below the age of 18 years to help build the culture of saving.
  • The minimum a child can save is E10.00 per month.
  • Parents can make deposits into the junior’s account on behalf for their children.
8. Fixed Deposit Account The Fixed deposit account is a withdrawable deposit account where depositors can place short term deposits for specified periods of time usually between six and twelve months.

The account operates as detailed below.

  • Fixed Deposit Account is suitable for deposits where the member is fairly certain of the period that he can commit the funds.
  • The minimum amount on fixed deposits shall not be less than E5000-00
  • Notice of withdrawal:
    • From E 5 000.00 to E30 000. 00 -7 Days’ Notice
    • E 30 001.00 and E200 000 -14 Day’s Notice
    • E200 001.00 and above -30 days
  • May be used as security against loans,
  • If funds are withdrawn before maturity a penalty equivalent to 15% of accrued interest will be charged.
  • The member is issued with a Certificate of Deposit upon depositing the money.
  • Upon maturity the member can rollover the principal together with the interest or collect interest and rollover the principal or collect both principal and interest.
9 Ndlelanhle Savings (Retirement Savings)
  • This account has been introduced to help members make investment towards retirement.
  • Part withdrawal of 50% is allowed when a member is 55 years.
  • Minimum contribution is E200.00 per month.
  • Competitive rate is payable on the account and is reinvested to grow the investment.

 Our Location

Police Academy Road, Adjacent to St George's Army Barrack, Opposite Mobeni Flats
Kingdom of Eswatini

 Operating Hours

Monday – Friday 8:30 AM to 3:00 PM
Saturday 8:30 AM to 11:00 AM
Sunday – closed
Evenings by Appointment

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