SAVING PLANS

Mandatory Accounts

S1

MUDHARABAH SHARE CAPITAL

  • This savings facility is designed to recognize our members as owners of SGM.
  • Voting Rights
  • $1,000.00 upon application
  • Annual dividend from surplus
  • Withdrawable upon ceassation of membership

S2

MUDHARABAH SUBSCRIPTION

  • This savings facility is created to inculcate good saving habits among our members
  • Wealth Accumulation Retirement
  • $30 Monthly Minimum
  • Annual Dividend from Surplus
  • Withdrawable for the purchase of house, Umrah or Haj Pilgrimage and education expenses but should maintain a balance of $500.00

Optional Accounts

S3


MUDHARABAH 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 contigencies purposes
  • $30 monthly minimum
  • Annual returns
  • No withdrawal limit

S4

MUDHARABAH HAJ/ UMRAH SAVINGS

  • This saving facility is established to help our members who are planing to perform the Umrah or Haj pilgrimage in the future
  • Umrah or Haj
  • $30 monthly minimum
  • Annual dividend not applicable
  • Withdrawable upon performing of Umrah or Haj pilgrimage

S5

MUDHARABAH 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

Frequently Asked Questions

 


You can earn annual dividends from your mudharabah share capital and mudharabah subscriptions savings depending on SGM surplus.

You can earn The types of savings facilities available are as follows:

1. Mudharabah Share Capital (S1)

2. Mudharabah Subscriptions (S2)

3. Mudharabah General Savings (S3)

4. Institutional MemberMudharabah Haj Savings (S4)

5. Mudharabah Education Savings (S5)

You may call our officers at 6743 9595 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.    

How do I withdraw my savings? 

You can withdraw your savings by calling our contact officers and check the amount you are eligible to withdraw. All successful withdrawal can be collected at our office or you may authorize another person, in writing to collect on your behalf.