SAVINGS PLANS
Mandatory Accounts
PACKAGE CODE: S1
MUDHARABAH SHARE CAPITAL
- This savings facility is designed to recognise our members as owners of SGM.
- Voting Rights
- $100 upon application
- Annual Dividends from Surplus
- Withdrawable upon cessation of membership
PACKAGE CODE: S2
MUDHARABAH SUBSCRIPTION
- This savings facility is created to inculcate good saving habits among our members
- Wealth Accumulation Retirement
- $30 Monthly Minimum
- Annual Dividends from Surplus
- Withdrawable for the purchase of house, Umrah or Haj Pilgrimage and education expenses but should maintain a balance of $4,000.
Our Other Services (Optional)
PACKAGE CODE: S3
WADIAH GENERAL SAVINGS
- This savings facility is catered for member's short-term expenditures
- Short-term expenditure such as yearly holiday, road tax renewal, income tax, festive season and other contingencies purposes
- $30 monthly minimum Annual returns not applicable
- No withdrawal limit
PACKAGE CODE: S4
WADIAH HAJ / UMRAH SAVINGS
- This saving facility is established to help our members who are planning to perform the Umrah or Haj pilgrimage in the future
- Umrah or Haj
- $30 monthly minimum
- Annual returns not applicable
- Withdrawable upon performing of Umrah or Haj pilgrimage
PACKAGE CODE: S5
WADIAH EDUCATION SAVINGS
- This saving facility is set up to help our members set aside savings for their children and their own future education purposes
- Education purpose
- $30 monthly minimum
- Annual returns not applicable
- No withdrawal limit
You can earn annual dividends from your mudharabah share capital (S1) and mudharabah subscriptions savings (S2) depending on SGM surplus. To ensure the sustainability of the co-operative and we want to give the best returns to our members, the fixed profit-sharing ratios between members and SGM shall not be applicable, as the dividend quantum will be determined during AGM.
You can earn The types of savings facilities available are as follows:
1. Mudharabah Share Capital (S1)
2. Mudharabah Subscriptions (S2)
3. Wadiah General Savings (S3)
4. Wadiah Haj Savings (S4)
5. Wadiah Education Savings (S5)
You may call our officers at 6743 9595 or email us at info@sgmcoop.org.sg to check your savings balances. You are required to provide us with your membership number for verification or you may leave your name, membership number, contact number and your enquiries for our officer to get back to you as soon as possible.
You can withdraw your savings by calling our contact officers at 6743 9595 or email us at info@sgmcoop.org.sg and check the amount you are eligible to withdraw. All successful withdrawal can be collected at our office or you may authorise another person, in writing to collect on your behalf .