Sacco Banking

This provides societies with an avenue to save and comply with the new legislation requiring all societies to put aside 20% of the surplus before payment of dividend and interest in liquid cash.

• No minimum operating balance
• Cheque Book available
• Nil charge on incoming funds via EFT / RTGS
• Account accessible at any branch

• No monthly ledger fees
• Sweep facility for excess funds directly into and out of a call deposit account
• Transactional advises provided to confirm transfers [EFT, TT, and RTGS].
• A dedicated Relationship Manager

For surplus funds that may need to be invested, we are able to offer competitive pricing on our fixed deposits.

• Flexible options for additional deposits with no penalties
• Applicable interest rates are negotiable and reviewed on a regular basis to ensure maximum returns in line with market developments
• Called and Fixed Deposit receipts will be issued and delivered on the day after booking the deposit
• Minimum tenure is 30 days on fixed deposits and 7 days on call deposits.

• Bridges finances for SACCO ordinary business and short term facilities to meet their obligations and onward lending whilst having placed funds with the Bank under various investment options
• Applicable interest rates are negotiable and reviewed on a regular basis to ensure maximum returns in line with market developments
• Short Term Loans or Overdraft Facilities for a maximum tenor of 12 months
• Approval done within 48 hours

• For the development of projects such as; Expansion of facilities, acquisition of land by the SACCO for Development.
• Onward lending for development initiatives for SACCO members.
• For investment in IPOs, purchase of Stocks, bonds etc.
• Flexible collateral requirements for facilities not secured by Fixed Deposits.

• For SACCOs, interested in purchasing motor vehicles such as staff buses or other official vehicles, financing can be availed for the same.
• Competitive pricing for both new and second hand vehicles
• Insurance Premium Financing available.

This is unsecured personal lending products at highly competitive interest rates that will be made available to the SACCO staff.

Products under scope:

• Car Loans.
• Micro Assets
• Salary advance
• Educational loans
• Mortgages
• Insurance Premium Finance (IPF)
• Health Insurance

• Mobile banking
• Internet banking
• Money transfer services including Western Union, Money Gram, and Instant cash
• Mpesa money solutions.