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Frequently Asked Questions

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New around here ? Start with the basics.

How do I join the Sacco?

Get the membership application form from your facility representative, fill it in, and attach your passport photo and a copy of your ID. You will also be given a nominee form to fill in your next of kin details.

How will I know the account is open?

SMS notification with your member number shall be sent to your phone
within 48 hours. An email will also be sent to you with the confirmation of your registration and a copy of our by-laws.

Is there a joining fee?

Yes, one-off fee of Kes.1,500.00

Is there a minimum monthly contribution?

Yes, the minimum monthly contribution is Ksh.2,500.00

What is share capital?

The share capital is the institutional capital of the Sacco. Each and every member is mandated to purchase a minimum shareholding of 100 shares each share is 10/= equal to Ksh. 1,000.

How long do I need to purchase the share capital?

A member should meet the minimum shareholding within 12 months from the date of joining.

Is the share capital refundable?

The share capital is non-refundable and is only transferable to an existing Sacco member or sold to a Sacco member when you cease being a member.

Once I become a member, can I introduce my friends to join the Sacco?

Yes, you may introduce your spouse, friends, colleagues, and family to join the sacco.

Do I get a return on both my monthly contribution & shares?

The returns are earned at the end of the financial year. In 2017, we paid 7.2%
Interest/rebates on deposits.

Do I incur any withholding tax on interest and dividend earned?

Yes, 5% withholding Tax

Can I purchase more shares than the Kshs.40, 000?

Yes, you can purchase more shares, the maximum share should not be more than a fifth of the total shareholding per individual.

Will I continue being a member if I change my employer?

Yes, you can continue with your membership and continue monthly savings while servicing any existing loans.

How do I make my monthly deposits and shares contribution?

Through bank standing order, direct debits, M-Pesa paybill number 556474, and employer Check off.

I have a chama / investment group, are they eligible to join the Sacco?

Yes and patronize our services. They can also borrow up to 3 times savings. They also MUST be registered

How do I benefit being a member of the Sacco?

Save and access affordable loans at only 1% p.m., negotiated discounts by our vendors, clean land deals and you get to save for the future.

How else do I benefit?

You get rebates on savings and dividends on your shares annually

How do I check / keep track of my account?

We will have a mobile app downloadable from Google Play where you can access your SACCO records. Alternatively, you can get your statement on request from the treasurer.

Loan eligibility

New around here ? Start with the basics.

For how long should I save in order to qualify for a loan?

You need to save consistently for at least 6 months to qualify for a loan.

Can I top up my savings to qualify for a bigger loan?

Yes. If you deposit a lump sum larger than your current savings, you will need to wait for at least 3 months in order to qualify for a loan.

Does the sacco buy loans from other financial institutions?


How long do you take to process a loan?

This varies on the type of loan a member is borrowing: The processing period for a long-term loan is within 1 week while that of the short-term loan is within 48 hours.

How do you differentiate a short term from a long term loan?

A Short term loan is a loan that you service within a period of 12 months and does not exceed Kes 100,000. A long-term loan exceeds Kes.100,000 and the repayment period is over 12 Months.

What type of security do I need when applying for a Sacco loan?

You need to have a guarantor if borrowing over and above your savings. Other forms of security include Shares, Salary, and End of Term benefits. Currently, Sacco has.
also opened up to other forms of security e.g. Tittle Deeds, Logbooks.

What documentations do I need when applying for a loan?

You need to Complete filling in a loan application form, attach a copy of your ID, latest certified payslip (If on Check off arrangement).
For those not on check-off arrangement with the Sacco present latest certified bank statement/s for 3 Months. This applies to all types of loans short /long term loans.

What does it mean to be on Check – Off Arrangement?

This means that your employer remits deductions to Sacco directly and has signed a memorandum of understanding with Sacco to remit by every 5th of the month.

How many guarantors do I need to guarantee my loan?

You may have even one although the loan MUST be fully guaranteed.

What is the savings ratio to loan borrowing?

The ratio is 1:3, meaning your total Sacco loans should not exceed 3 times your savings.

Can I pay my loan in lumpsum and would I be charged extra?

Yes, you can pay your loan in lumpsum repayment/s anytime. We do not penalize you for fast tracking your loan repayment

If I guarantee someone am I eligible to borrow a loan?

Yes you can borrow a loan as the maximum you can guarantee is up to 10 times your total savings.

What is my liability as a guarantor?

Your liability as a guarantor reduces as the loanee pays the loan and you can get your guarantor’s history from the credit’s office.

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Call +254 731 005723