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Frequently Asked Questions
Quick answers to common queries about our SACCO
Who is qualified to be a member of the Sacco?
Any person (above 18 years of age) can become a member of the Sacco i.e. business people, farmers, people in formal employment, students, etc.
How do you join the Sacco?
One becomes a member of the Sacco by filling a registration form; attach the copy of Identity card and pay a non- refundable fee of Kshs.660.
What is the minimum saving per month?
One can save a minimum of Kshs. 50 per day, but we have no maximum savings per month.
When do I qualify for a loan?
You can qualify to get a loan after three months and above of active savings.
What security do you provide for you to get a loan?
The security acceptable by the Sacco is guarantors, a title deed, logbook, business stock, and household equipment.
What factor do you multiply a loan with?
We give three times of members savings.
What is your loan repayment period?
The minimum repayment period is 1 month and the maximum repayment period is 36 months, however, this depends on the type of loan one is applying for.
If one wants to withdraw how long will it take to get the savings back?
It takes 60 days after the submission of saving refund form.
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