Empowering Your Financial Future, One Step at a Time.
Stronger Together Building Wealth as a Community.
Turning Your Aspirations into Achievements.
Vision
motto
mission
SIMBA DEPOSITS
These are members’ cash savings held in the accounts in the Sacco as it also acts as a current account where services such as EFT funds transfers, Salary processing, Banker’s cheques, Agency Banking, Mobile Banking are available. The account has a minimum deposit of Kshs. 3,000 for operation
TEMBO DEPOSITS
Minimum monthly savings will be sustained at Kshs. 3,000 through check-off or standing order.This account will be used to apply for Tembo Loan at a multiplier of 4 times the Tembo savings in the account.Minimum period for one to qualify for Tembo Loan is that one must have saved for 6 months. Interest will be credited to the account on monthly basis at the rate of 3% p.a.
FIXED DEPOSITS
Fixed Deposit accounts are available with the minimum amount to fix from Kshs. 50,000. Duration to maturity of the fixed funds vary from 91days,182 days and 365 days. Interest rates are negotiable and competitive according to the amount of funds to be fixed and runs up to 11% p.a.
JUNIOR DEPOSITS
This account will enable one to accumulate savings for a child/children under the age 18.The account will be operated by the child’s sponsor. Minimum savings is capped at Kshs. 1,000 through check-off or standing order. Interest will be credited to the account on monthly basis at the rate of 6% p.a.
HARAKA LOAN
- Maximum that one can qualify for at any one time is Ksh 100,000.
- Interest rate 2.5% per month on a reducing balance.
- Repayment period up to 12 months.
- Loan requests are processed same day.
No guarantors required.
JUMBO PLUS
- One can qualify up to 5 times their Sacco savings.
- Repayment period up to 96 months.
- Interest Rate 1.25% per month on a reducing balance.
- Minimum of three guarantors who must fully cover the loan amount.
- The loan is insured against death or total disability under loan guard policy.
SCHOOL FEES LOANS
- One can qualify up to 4 times their shares/deposits.
- Repayment period- up to 72/36 months.
- One must have been a member for 6 months with consistent monthly contributions.
- Interest rate 1 % p.m on a reducing balance.
- All loans must be fully secured by either guarantors or collateral security.
JENGA LOANS
This is a mortgage product tailored for members willing to buy or build their residential homes.
- One can qualify up to 5 times their Sacco savings.
- Repayment period up to 180 months i.e 15 years.
- Interest Rate 1% per month on a reducing balance.
- Collateral security for the loan – The house being purchased or another Property (70% of the property value)
- Proof of income subject to the 1/3 Rule.
- The loan is insured against death or total disability under loan guard policy.
- Maximum Amount Ksh.15,000,000 (Fifteen Million Only), Minimum amount Ksh.2,000,000 ( Two Million Only)
- All other costs associated with the facility to be borne by the member. E.g Legal fees, Valuation fees etc.