Daily Fixed Savings, DFD
This is a product provided in South Sudan allowing clients and general public to save up for a future lump sum expenses. Savers agree to a savings modality either daily, weekly or monthly for a fixed amount per deposit. Savings are held for a minimum of 3 months after which the saver is at liberty to make withdrawals. The incentive for this account is that deposits and withdrawals are cost free while an annual interest is paid.
Agent Banking
RUFI has also partnered with Centenary bank, Equity Bank and Stanbic Bank as an agent in Uganda to mobile savings on behalf of these banks. This is a welcome development among the refugees living in the camps who would like to save but have no access to reliable and secure financial institution mandated to collect savings.
Money Transfer
RUFI operates a local remittance services between her branches for both her clients and the general public. Instantaneous payments are made and transfer fees are lower than the other market players. Transfer for loan repayments are made free of charge thus benefiting clients held up in other localities with a repayment falling due. We also provide mobile money services especially in the branches within the refugee settlements of Morobi-Palorinya, Rhino camp and Palabek whereby accessing these services are challenging.
Financial Literacy Training
RUFI provides financial literacy training through embedding the training into the lending process. The entrepreneurs are trained in their enterprise venues for 30-minutes on a bi-weekly basis meanwhile the VSLAs get trained during their weekly meetings on bi-weekly basis. This approach is deemed effective as it allows the beneficiaries to continue with their normal activities without major disruptions. The other advantage is that this benefits all the members unlike -classroom training
