List Of Muungano Microfinance Bank Products

List Of Muungano Microfinance Bank Products: This article focuses on Muungano Microfinance Bank products. It is one of the 14 licensed microfinance banks in Kenya. Muungano Microfinance Bank was granted a license to operate community-based microfinance banking business on 30th October 2019.

This microfinance offers various various financial products for their clients.

List Of Muungano Microfinance Bank Products

a) Agri-business Loans (Kilimo Kisasa)

1. Muungano Maziwa Boost Loan.

This loan product helps farmers maximize the production of milk through the financing of dairy cows,  zero-grazing units, quality animal feeds, domestic milk coolers, water tanks, motorbikes and motor vehicles.

2. Muungano Majani Boost Loan.

This product maximizes tea production through the financing of:

•  Labour – Tea Picking
• Pickers housing improvement
• Water Tanks
•  Development Loans – Bonus based

b) Business Loans 

1. Muungano Boresha Biashara Loan

This product aims to finance the day-to-day running of your business through LPO Financing, business asset financing, and provision of working capital loans.

2. Muungano Mradi Loan

This is a community project financing targeting dairy societies, churches, schools, chamas, families etc. It finances up to 70% cost of the project.

3. Muungano Vijana Boost Loan

This is a youth-focused product that enables youth to be economically empowered and employers through LPO Financing and working capital loans.

c) Personal Loans

1. Muungano Jijenge Loan

This is a product for regular earners. It finances:

• Acquisition of household assets
•  House Improvement
•  Purchase of Land
•  Holidays, Medical, Education etc

2. Muungano Okoa Loan

This is a short term loan and salary advance meant to handle emergencies.

d) Savings Accounts

1. Haba Savings Account

Features

• Minimum Balance Ksh.400
• Unlimited withdrawals
• Interest earning

2. Baraka Junior Savings Account

This product is designed for kids.

Features

• Opening Balance Kshs. 400
• Interest earning
• Quarterly free withdrawal

3. Muungano Investment Account

It targets groups, chamas and associations.

Features

• Deposit & Withdrawal at will
• Minimum balance Kshs.1000
• Interest earning

D) High Interest-Earning Accounts

1. Jiinue Fixed Deposit Account

Features: