Paybill: 855600
Share Capital
This is a mandatory savings scheme. The nominal value of each share shall be Kes. 100/=.
The minimum share capital expected by 31st December 2025 is Kes 50,000/=. This amount is not withdrawable but can be transferred to another member upon cessation of membership.
New members will be allowed to gradually build their share capital of Kes 50,000 within 3 years. The cumulated minimum amount expected per new member per year will be:
- Year 1 - Kes. 17,000
- Year 2 - Kes. 17,000
- Year 3 - Kes. 16,000
Members are encouraged to contribute at least Kes. 1,500/- per month. The share capital built up will be monitored monthly. Any arrears will be recovered from loans being granted or dividend/interest due to the member but on a prorated basis.
Deposits
Deposits earn interest depending on the surplus reported within the year. Loan granting is based on a member's deposits among other requirements like eligibility to pay. Deposits withdrawal is only allowed when a member is withdrawing membership. The minimum mandatory deposit contribution is based on the aggregate sum of all loan balances.
|
Minimum Loan Limit (Kes) |
Maximum Loan Limit (Kes) |
Minimum Contribution per pay period (Kes) |
Minimum Contribution per month (Kes) |
| 0 | 2,000,000.00 | 2,000 | 4,000 |
| 2,000,001.00 | 3,000,000.00 | 3,500 | 7,000 |
| 3,000,001.00 | 4,000,000.00 | 5,000 | 10,000 |
| 4,000,001.00 | 5,000,000.00 | 6,500 | 13,000 |
| 5,000,001.00 | 6,000,000.00 | 8,000 | 16,000 |
| 6,000,001.00 | 7,000,000.00 | 9,500 | 19,000 |
| 7,000,001.00 | 8,000,000.00 | 11,000 | 22,000 |
| 8,000,001.00 | 10,000,000.00 | 12,500 | 25,000 |
| Above 10,000,001.00 | 14,000 | 28,000 | |
Benevolent Fund Scheme
A buffer fund where members make monthly contributions to meet expenses upon bereavement of an immediate family member as declared by the member in advance. The contribution is Kes.300/= p.m.
Details of package (upon demise of declared dependent)
| Dependent | Details | Payable to |
|---|---|---|
| Principal member | Kes. 100,000 | Declared claimant |
| Spouse |
Kes. 80,000 Maximum claims = one spouse |
Principal member |
| Child |
Kes. 80,000 (per claim) Maximum claims = Four children up to 30 years |
Principal member |
| Parent |
Kes. 50,000 (per claim) Maximum claims = Two biological parents |
Principal member |
Note
- To update your beneficiaries, please fill in the Benevolent Fund application form and send to us via email
- To request a claim, please fill in the Benevolent Fund claim form and send to us via email. You will be required to attach certified proof eg. death notification slip or death certificate
Ekeza Fund Scheme for Members
This product is to enable members have savings with the SACCO and in return earn interest based on the period the savings are held by the SACCO. The returns on the funds shall be applied as follows:
|
PERIOD ( DAYS) |
RETURN (PER ANNUM) |
|
60 |
6% |
|
90 |
9% |
|
120 |
10% |
|
181+ |
12% |
Other terms and conditions;
- This is a voluntary savings scheme
- Members are allowed to take off part / full of their savings
- The minimum amount you can get is Kes. 10,000
- The minimum savings amount is Kes. 12,000
- Funds will be refunded within seven working days on receipt of notice
- This amount can be used as a security for loan(s)
- A member will not earn interest if he/she makes a notice before the maturity date.
EKEZA FUND - CHAMAS
This product is to enable members introduce their chamas to the SACCO and have savings which in return earn interest based on the period the savings are held by the SACCO. The returns on the funds shall be applied as follows:
|
PERIOD (DAYS) |
RETURN (PER ANNUM) |
|
181+ |
12% |
Other terms and conditions;
1. The chama MUST be introduced by an existing active member of the SACCO.
2. The chama can be a registered or unregistered group.
3. Minimum amount and duration of investment is Kes. 100,000/- and 6 months respectively.
4. The investment by the chama will operate in the introducing member’s SACCO account but liquidated (redeemed) to chamas bank account ONLY.
5. An agreement/MOU MUST be signed between the chama officials and the SACCO and, witnessed by the introducing member.
6. Minutes/resolution by chama members authorizing investment in the SACCO MUST be availed.
Junior Savings
Our Junior Savings account is packed with features designed to help you grow your child's future.
- The minimum saving that will earn interest is Kes. 5,000
- The savings to earn interest at 5% per annum
- Maximum allowable withdrawal from the saving is once in 12 months
- The minimum monthly contribution at any given time is Kes. 200
- No interest earned if withdrawal is done before twelve months
- The amount for opening the account is Kes, 1,000 non refundable
Secure your child's financial future today with Junior Savings—simple, rewarding, and tailored for success!
Normal Loan
Looking to improve your business or personal well-being? The Normal Loan is designed to help our members achieve their financial goals with ease and flexibility.
-
Product Features:
- Spread your payments over a maximum of 60 months (5 years).
- Interest rate 1% per month on reducing balance.
- Loan applications are reviewed monthly by our Credit Committee.
- Funds are disbursed to applicants in the order received.
- Eligible amount is 3 times your savings deposit, up to 2/3rd of your gross salary.
- This loan can be bridged for added convenience.
Whether you’re growing a business or enhancing your quality of life, the Normal Loan is here to support you every step of the way.
Boresha Loan
The Boresha Loan is your gateway to long-term financial success. Whether you're consolidating existing loans or seeking additional funds, this loan is crafted to help you achieve your financial goals with ease.
Product Features:
- Maximum repayment period of up to 84 months (7 years), offering long-term financial relief.
- Interest at 1.29% per month on a reducing balance.
- Borrow up to 3 times your savings deposit, with a cap of 2/3rd of your gross salary.
- Option to top-up (loan bridging) or amalgamate other loans to organize payments while still enjoying a take-home amount.
- Approved by the Credit Committee once a month, with disbursement on a first-come, first-served basis.
Take advantage of the Boresha Loan to simplify your finances and plan with confidence.
Super Loan
The Super Loan offers the ultimate flexibility and support for members seeking substantial financing. Whether you're looking to refinance, consolidate other loans, or secure extra funds, this loan has you covered.
Product Features:
- Repayment period of up to 72 months (6 years) for manageable, long-term planning.
- Interest rate of 1.25% per month on a reducing balance.
- The loan can be refinanced anytime or used to amalgamate existing loans while still giving you a net take-home amount.
- Approved once per month by the Credit Committee, with first-come, first-served disbursement.
Collateral Loan
Features:
- The loan repayment period is set at 10 years.
- The interest rate is 1.125% per month on a reducing balance basis.
- Agricultural land will not be accepted as a security for loans.
- Commercial land will be accepted as security for up to 80% of its mortgage/forced value.
- The loan can be used for amalgamating other loans.
- Eligibility is up to a maximum of five times (X 5) of a member’s deposits.
- Search is conducted on the property being offered as security, valuation of asset is done and then the asset is charged. All charges are paid by the member.
Special Loan
The Special Loan is tailored to help you organize your financial commitments by consolidating your existing loans.
Product Features:
- The repayment period will be 10 years (120 months).
- The interest rate is 1.29% per month on reducing balance.
- Eligibility is three times (X 3) of a member’s deposits subject to two third income rules
- The loan can be bridged.
- The loan can be used to consolidate/ amalgamate other loans..
School Fees Loan
This loan is meant to assist you to cater for your academic needs.
School fees loan is repayable within a maximum period of 24 months (2 years) at 1% interest per month on reducing balance.
Applications must include fees structures. Granted on demand.
Emergency Loan
The Emergency Loan is designed for urgent financial needs, providing you with swift support in times of crisis.
Product Features:
- Repayment period of up to 12 months (1 year).
- Interest rate of 1% per month on a reducing balance.
- Option to bridge the loan for additional flexibility.
- Eligible amount is subject to checks on 2/3rd of your gross salary.
Get the immediate assistance you need with the Emergency Loan your reliable solution in unexpected situations!
Insta Loan
Need immediate financial assistance? The Insta Loan is designed for members who require fast access to funds without the hassle of limits.
Product Features:
- Repayment period of up to 24 months (2 years) for a straightforward repayment process.
- Competitive interest rate of 1.17% per month on a reducing balance.
- No maximum limit on the loan amount, providing you with the flexibility to borrow what you need.
Get the financial support you need when you need it most with the Insta Loan!
Insta Plus Loan
For those seeking a bit more flexibility, the Insta Plus offers quick access to funds with the added benefit of an extended repayment period.
Product Features:
- Repayment period of up to 36 months (3 years), allowing for manageable payments.
- Interest rate of 1.21% per month on a reducing balance.
- No maximum limit on the loan amount, giving you the freedom to borrow as needed.
Okoa Advance Loan
Product Features
- The maximum limit for Okoa advance loan is Ksh 500,000 or member’s total
deposits whichever is lower. - The maximum repayment period is 24 months.
- The interest rate is 1.2% per month on reducing balance.
- Eligibility is calculated based on half of the net salary.
- The loan can be bridged.
- The loan is exempted from the deposit multiplier.
M-Cash Loan
Maximum amount for the product is Ksh. 150,000. The maximum repayment period is 4 months. Interest is payable on a flat rate of 10% on the amount loaned. Network charges are borne by the applicant. Product can be accessed via Xmobi Customer app (available on Google play store) and/or by dialing *882#. Payment is done via m-pesa. A member must have his/her phone number registered first in the SACCO system.
Karibu Loan
Are you a new member of the SACCO? Unlock financial support with the Karibu Loan! This loan is specifically designed for members who’ve been with us for less than 6 months and have saved for at least 2 months.
Product Features
- Borrow up to Ksh. 50,000 to meet your immediate financial needs.
- Repayment period of a maximum of 10 months.
- Interest at a flat rate of 10%.
- Loan security through guarantors.
Car Loan
Product features
- The loan is repayable within a maximum period of 48 months (4 years)
- Interest rate of 1.2% per month on a reducing balance.
- The maximum loan amount is Ksh. 3,600,000.
- The security for the loan is 70% of the forced valuation value of the vehicle, which MUST have a maximum age of 8 years.
- Loan disbursements are made directly to the car vendor,
- The loan is exempt from the deposit multiplier.
- Applicable to personal vehicles only (not for commercial use).
Insurance Premium Financing Loan
This new product is designed to assist members in paying premiums for motor vehicle insurance, education policies, medical covers, general insurance, and life insurance. The maximum amount is determined by the lesser of the repayment ability or the insurance premium.
Product features:
- The repayment period is 12 months,
- Interest rate of 1% per month on a reducing balance.
- Eligibility is based on half of the net salary.
- Repayments can be made via checkoff or standing order,
- Loan can be bridged.
- Loan disbursements are made directly to the insurance company, and the loan is exempt from the deposit multiplier.
Self-Guarantee Loan
The Self- guarantee Loan is a product for members without loans but have free deposits.
-
Product Features:
- Spread your payments over a maximum of 60 months (5 years).
- Interest rate 0.958% per month on reducing balance.
- The maximum amount available is 90% of the member’s free deposit.
- Repayments can be made via checkoff or standing order,
- Eligibility is subject to the two-thirds income rule.
