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ATION NO.......................... TYPE OF ACCOUNT (Tick where applicable Salary A/c Ord.Savings A/c Premium A/c Jipange A/c I/we............................................................................................................................................................................ ..................................................................................................................................................................................... the unders.

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Be an active member of the Sacco with regular deposits contributions. Must have paid (or is paying) the minimum share capital requirement by the Sacco. Must have been a member of the Sacco for at least three months. Must have a regular source of income to support loan repayment (salary, business, farming etc.)

Like banks, SACCOs accept deposits and make loans—but unlike banks, SACCOs are not in business to make a profit. Banks exist to make money for their stockholders, not for their depositors. SACCOs exist solely to serve their member-owners, and benefits are returned in lower loan rates and higher deposit rates.

A member is required to provide the SACCO with a certified statement that shows the loan balance from the other financial institution. The member will then apply for a loan based on his/her deposits in the SACCO or net salary (for members who process their salary through the SACCO) and the member's ability to pay.

Most of the documents can be submitted electronically. Loan application. Each lender will have an application to initiate the loan process, and this application can look different from lender to lender. ... Proof of identity. ... Employer and income verification. ... Proof of address. ... Credit score. ... Loan purpose. ... Monthly expenses.

Back office (BOSA) loans are set at 12 per cent per annum, emergency loans 10 per cent per annum, school fees loans (8 per annum), Front Office (FOSA) loans (12 per cent per annum), Fixed deposits 10 per cent per annum,” said the SACCOs.

LOAN SECURITY ACCEPTED Motor vehicles of 8 years and below up to a maximum of 50% of the value Land & buildings in urban areas up to a maximum of 70 % of the value. Only ACTIVE members can guarantee loans.

Safaricom Sacco membership is open to employees of SAFARICOM LTD, Spouses of Members, and Children above 18 years, Individuals introduced by Sacco members and employees of other corporates admitted as per the Membership policy.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232