IAB Chama

Pool your money together with our group of investors.
Our Chama will help you foster discipline and accountability as we help each other achieve shared savings objectives.

  • Pick A Savings Pool before the Deadline During open enrollment, pick a savings pool that will work for you eg $100, $500, or $1000 per month before the set deadline.
  • Lock-in Period: During enrollment , you’ll see the lock-in period. Once the funds are pooled, there is a predetermined lock-in period during which participants cannot withdraw their individual contributions.
  • During the lock-in period, the pooled funds are held in an interest-yielding account. Interest rate APY varies and will be conveyed at the time of enrollment.
  • Exit Options before the expiry of the lock-in period Early withdrawals attract a 30% penalty on the total sum invested and forfeit any accrued interests. These fees will be deducted before issuing your refund.
  • Late Fees: Monthly contributions must be received by the 5th of the month. A 10% late fee will be charged for contributions received on the 6th of the month and a 1% late fee added on subsequent months. Late payment fees will be distributed equally among all the investors after the lock-in period.

  • You’ll have an option to decide if your funds should be channeled to other investments for bigger returns or if the funds should be left in the savings pool.
  • Late fees are divided equally amongst all the investors in the pool.
  • Funds collect interest monthly which will be divided equally amongst all the investors in the pool.

  • Crowd savings with our lock-in period allows for larger investment opportunities that may not be accessible to individual investors.
  • Increased potential for returns through diversified investments if the investor opts for it.
  • We foster a sense of non negotiable collective savings that you might to be able to achieve on your own.
  • Shared financial goals.

Thoroughly understand the terms and conditions around late fees and lock-in period early withdrawal penalties and you’re ready to start watching your money grow with IAB Chama.