Savings

Savings Account is a very important component of group lending or micro lending.  It is an indicator for recovery of loan, debtors trend, groups sincerity and overall groups performance towards the loan issued to them. 

This feature allows the organisation to: 

Customise the Savings in their OurBank Application as per their policies and track the activities at an individual or group level. 

Group Savings Account can be divided into its members' savings account. The members saving account will be credited or debited subject the transactions that take place to tthe group account. 

OurBank can provide an 'as-on-date' status of all of these accounts at any time easily. 

Deposit to the savings account either directly, through field staff or at group meetings is credited to the respective group or individual account. 

In the unlikely event of disengagement of a member, the specific savings account would provide detail on due payable or receivable, if any, by the member from / to the group. 

Advanced features of this module in OurBank can be additionally customised to track other external sources of deposit to the savings account registered with the user's OurBank application.

Possibilities and scopes for further customisation of this module in the OurBank application with advanced features can be read here

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Features described here are subject to the customisation desired by the organisation and All are NOT available with OurBank by default or Free