Shares

These are permanent savings and can only cease to be permanent when a member decide to withdraw membership. Minimum monthly contribution is K3,000.00

Loan Types

We offer a variety of loans at lowest interest rates in Malawi. Our average loan interest is 3% interest per month. The maximum loan amount is equal to double the amount of your shares and deposits. Below are loans that we are currently offering to the general public.

Deposits/Savings

These are temporary savings and can be withdrawn on demand at any time. The monthly minimum contribution is MK 1000.00 .This account earns a competitive interest above commercial banks.

Normal Loan

This is a general loan given to members. A member can be granted a loan of double the amount of shares he/she has saved. The maximum repayment period is 36 months (3 years) at 3% interest per month charged on reducing balance.

Zichuluke Account

This is a long term or fixed deposit account where amember opens and deposits money and withdraws after 3 months or more. The money earns an interest of 15% per month.

Emmergency Loan

This is a loan given to members in emmergency situations interms of death of their beloved ones or family members, sudden hospitalization or natural disaster. Maximum repayment period is 6 months at 3% interest per month charged on reducing balance.

Income Generating Loan

Income Generating Activity loan is given to members who wish to purchase farm inputs for example fertilizer,furniture,electric appliances etc.The Maximum recovery period is 8 months with 22% interest per month charged on reducing balance..

Takulandilani Loan

This is a new loan given to new Sacco members. A member can be granted a loan of K50,000.00. The maximum repayment period is 4 months at 20% interest for 4 Months.

Material Loan

This is a new loan given to members when he/she wants to buy items like Fridge, Laptops, House furnitures, Land, Matress, farm inpute eg fertiliser and any item of their choice. Maximum repayment period is 12 months at 2.5% interest per month charged on reducing balance.

Special Loan

This is another loan granted to members recoverable in the same month in full along with interest of 6%.

Tsogolo Youth Product

To begin with, the youth product is there to instil a saving culture in youth. People say you can only save when you have much, but with Sacco young professional’s network, we are saying no, with as little as 1,000 you can open a youth savings accounts with PCL GROUP SACCO today.

Parents can also open a youth product account and then start saving for their children for school fees, medical bills and many others for the future of their children.

Account opening fee is MWK1,000 which becomes a book balance and withdrawable upon membership withdrawal.
Can deposit any mount
Attract 12% interest per annum.
No charges when closing the account.
Account to be opened using the school ID or letter from head teacher to avoid paying a wrong youth who bears the same name in the system.