Types of Savings

  1. Mudharabah Share Capital (S1)

  2. Mudharabah Subscription Capital (S2)

  3. Mudharabah General Savings (S3)

  4. Mudharabah Haj Savings (S4)

  5. Mudharabah Education Savings (S5)

(S1) Mudharabah Share Capital
Overview: This savings facility is designed to recognize our members as owners of SGM.
Characteristics: Mandatory Account
Purposes: Recognised member as owner of SGM
Voting Rights
Contributions: S$100 upon application (minimum)
Returns: Annual Dividend from Surplus
Withdrawal Limit: Withdrawable upon ceasation of membership
(S2) Mudharabah Subscription
Overview: This savings facility is created to inculcate good saving habits among our members.
Characteristics: Mandatory Account
Purposes: Wealth Accumulation
Retirement
Contributions: S$30 monthly (minimum)
Returns: Annual Dividend from Surplus
Withdrawal Limit: Withdrawable for the purchase of house, Umrah or Haj Pilgrimage and education expenses but should maintain a balance of $500.00
(S3) Mudharabah General Savings
Overview: This savings facility is catered for members' short-term expenditure.
Characteristics: Optional
Purposes: Short-term expenditure such as yearly holiday, to renew road tax, income tax, festive season and other contingencies purposes
Contributions: S$30 monthly (minimum)
Returns: Annual Returns
Withdrawal Limit: Nil
(S4) Mudharabah Haj Savings
Overview: This saving facility is established to help our members who are planning to perform the Umrah or Haj Pilgrimage in the future.
Characteristics: Optional
Purposes: Umrah or Haj
Contributions: S$30 monthly (minimum)
Returns: Not applicable
Withdrawal Limit: Withdrawable upon performing of Umrah or Haj Pilgrimage.
(S5) Mudharabah Education Savings
Overview: This saving facility is set up to help our members set aside savings for their children and their own future education purposes.
Characteristics: Optional
Purposes: Education
Contributions: $30 per month (minimum)
Returns: Not applicable
Withdrawal Limit: Withdrawable upon ceasation of membership