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Savings

NUBL requires its clients to save with most of their loan products and encourages clients to contribute to voluntary savings accounts as well. Both savings accounts give members access to funds for health, education and consumption needs either though withdrawal of voluntary savings or through group fund loans. There are two saving products offered to NUBL's clients.

Group Fund Savings
This compulsory savings is collected from members by deducting 5 percent of loan amount up-front on selected loan products and collecting Rs. 2 per week (Rs.4 per fortnight) per client. NUBL provides 8 percent interest on the minimum balance of the savings account every six months.

Personal Voluntary Saving
NUBL also encourages clients to save from their surplus. A client can open her account with a minimum of Rs.10. In the center meeting, members can deposit their money and the loan officer records the transaction in the member's passbook. Clients are allowed to withdraw any amount during branch office hours.

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