We design Docy for the readers, optimizing not for page views or engagement
Or copy link
Below are important details about Amref Sacco you wish to know.We have summarized everything concerning how to join the Sacco,paybill number,loans,customer care contacts and other details.
Check-off membership is comprised of employees from organizations affiliated to Amref check-off arrangement (NGOs, Companies and any other formally registered organisation). Former staff of the affiliated organizations revert to individual membership when they leave the check-off organisation.
Application process for Check-off members is as follows:
Membership, Benefits and Conditions
Referral membership is open to individuals referred by an active member, including a member’s spouse, children who are of legal age, other family members, friends and any other individual referred by the active member
Application process as a referral member is as follows:
AMREF SACCO draws its primary membership from NGOs (local and INGOs), Companies and any other formally registered organisation in Kenya and other African nations. Staff from these organizations are affiliated to membership through a check-off arrangement.
Other membership type are former staff of the check-off affiliated organizations and individual referred by an active member
REGISTER YOUR ORGANISATION
Organizations willing to introduce their staff through the check-off arrangement should meet the following qualifications:
1. The organization must be registered (Provide a copy of the organisation Registration certificate or Certificate of Incorporation).
2. The Organization to bring on board not less than 10 staff members upon initial entry into the common bond.
3. The Organization should have been in existence for 2 years or more (avail copies of audited financial report for the last two years).
4. Provide any other information regarding the activities or projects undertaken by your Organization (Provide Organizational profile).
5. Be willing to remit members’ monthly contributions and loan deductions directly to AMREF SACCO.
To book a marketing /recruitment meeting, contact the Marketing team through the email info@amrefsacco.org.
AMREF SACCO opened its membership to corporate members in the year 2021 and included corporate membership for organizations wishing to join the SACCO as an organization/company (not individuals).
QUALIFICATIONS FOR MEMBERSHIP BY INSTITUTIONS
a) The institution is duly registered or incorporated under any applicable law in the Republic of Kenya relating to its registration or incorporation.
b) The institution has a resolution of its governing organ to join the SACCO Society, including names of members, office bearers, and individuals authorized to transact on behalf of the institution.
c) The institution has a written constitution, By-Laws, Memorandum and Articles of Association, or any other constitutive instrument, as may be applicable to the institution.
d) The institution pays the entrance fee of KES 5,000 and the minimum share capital of KES 100,000.
APPLICATION FOR MEMBERSHIP
a) Submission of a duly completed membership application form (download from the website)
b) Submission of extracts of minutes of the board resolution authorizing the application for membership.
c) Submission of the Certificate of Incorporation.
d) Submission of the PIN certificate.
e) Submission of the Tax Compliance Certificate.
f) Submission of a copy of the audited financial reports for the last 2 years.
g) Signatories are required to submit their KRA PIN and ID copies.
• Gives a member shareholding/ownership rights.• KSh 30, 000 per member (minimum) payable one-off or in 12 equal instalments.• Earns dividends annually.• Shares are transferable to other members upon exit.
KSh 2,000 minimum monthly or periodical lumpsum.• Attracts interest per annum.• Member to select a fixed saving period from 1 to 12 months at the time of opening the account.• Member to give written instruction in case they want to roll over to a new fixed term. If no instruction is given, the amount will be rolled over automatically for same duration.• Full or part withdrawal allowed after term maturity
AMREF SACCO has collaborated with Britam Insurance to offer a Group Last Expense Cover to its members. This insurance policy is designed to provide financial support for funeral expenses when a member passes away. It ensures that families can focus on honoring their loved ones without the added burden of funeral costs.
BENEFITS
FEATURES
Eligibility Criteria
Principal Member and Spouse
Minimum entry age—18 years
Maximum entry age—70 years
Benefit is capped at Ksh 200,000 per principal member
Children
Minimum entry age—1 month
Exit age—18 years, can be extended into 25 years if in school
Benefit is capped at Ksh 100,000
Ksh 500 for an additional child (Below 18 years)
Parents and parents in-law
Maximum entry age—80 years
Exit age—85 years
Benefit is capped to Ksh 100,000 per parent
Option 1: Comprehensive Family Cover
Option 2: Individual or Nuclear Family Cover
For enrollment, download the application form on the website. call Amref at +254 722 139 585 | +254 729 139 585 | +254 732 515 797, or email them at info@amrefsacco.org.
• Minimum monthly deposit: KSh 2,000.• Entitles members to loans up to three and half times their deposits.• Earns interest annually.• Deposits are reimbursed upon exit.FREE deposit cover for all active members. Upon the member’s demise, beneficiaries will receive an additional deposit amount equivalent to what the member had saved. The maximum top-up is Ksh 5 million.
In Addition, the Next of Kin will also receive Ksh 200,000 to cater for funeral costs upon the member’s demise.
KSh 1,000 minimum monthly or periodical lumpsum.• Minimum saving period: 12 months.• Attracts interest per annum.• Minimum interest earning balance: Ksh 5,000.• The account is operated by the parent or guardian (child’s birth certificate is required).Withdrawal Terms:• Full or partial withdrawal is allowed after term maturity (12 months from the fixing date). Member to give written instruction through the savings withdrawal form.• Member to give written instruction in case they want to roll over the principal or principal plus interest to a new fixed term. If no instruction is given, the amount will be rolled over automatically for the same duration
• KSh 2,000 minimum monthly or periodical lumpsum.• Attracts interest per annum.• Member to select a fixed saving period from 1 to 12 months at the timeof opening the account.• Member to give written instruction in case they want to roll over to anew fixed term. If no instruction is given, the amount will be rolled overautomatically for same duration.• Full or part withdrawal allowed after term maturity
With a Minimum Investment: KES 50,000 Start your journey toward financial growth with AMREF SACCO.
Key Features
The Miliki Mortgage Loan from AMREF SACCO seeks to help you achieve your dreams of homeownership or property investment with a range of flexible financing options. Whether you’re planning to construct a residential or commercial property, purchase a ready-built house, or take over existing mortgages, we are here to support your journey every step of the way.
Loan Features:
External lumpsum deposits waiting periods
A member who wishes to top up a lump sum amount to their member deposits account with the intention of borrowing a loan will be subject to the following waiting periods:
This is a product that is designed to enable members acquire private motor vehicles while using the same assest as security for the financing. This product will be offered in partnership with reputable dealers of new and second hand imported cars
Offered in partnership with reputable car dealers.• Maximum Amount: KSh 5,000,000 subject to 3.5 times deposit multiplier.• Financing up to 80% of the value of the motor vehicle with the vehicle as collateral.• The remaining 20% can be financed through cash or the Normal & Property loans as per their respective terms.• Repayment period – 36 months.• Interest charged – 1.5% per month on a reducing balance.• Loan secured by motor vehicle being acquired.
Enhanced Benefits
External Lumpsum Deposits Waiting Periods
Offered in partnership with other merchants.• Maximum amount: As per quote but within 3.5 times of members’ deposit.• Maximum period: 12 months.• Interest charged: 1 % per month on reducing balance.• Loans security accepted – guarantors.• Loan proceeds payable directly to the merchants.
This loan facility enables customers to access up to 50% of their expected dividends/interest before the annual general meeting declaration.• Advanced amount is charged 6 % interest (one-off) for applications received in December and 5 % (one-off) for applications received from January to March.• Recoverable in full during the final dividend/interest payment.• This product is available between December to March
Minimum share capital of Ksh 300,000
Minimum amount is Ksh 1,000
No default of mobile loan in the last 6 months
Enables a member to acquire assets & finance other development projects.• Maximum Amount – 3.5 times member’s deposits.• Repayment period – 72 Months.• Interest charged – 1% p.m. on a reducing balance.• Loans security accepted: guarantors, title deed, log book.
Enables a member to acquire plots being sold by AHDC (a subsidiary of Amref Sacco).• New members must have saved continuously for 6 months.• Loan financing is subject to 3.5 times deposit multiplier.• A member can also pay to AHDC at least 30% deposit of the property they intend to acquire and obtain 70% financing through Shamba loan.• Interest charged: 1.5 % per month on a reducing balance.• Maximum repayment period: 60 months.• Loan security: AHDC title deed.
This facility is offered in partnership with the CIC insurance group for motor private, motor commercial and other non-motor types of insurance including Medical, Home, Business and personal accidents.• Maximum amount – As per insurance premium.• Maximum period – 6 months.• Interest charged – 5 % fixed (one off).• No guarantors required for amounts below KSh 50,000.
This is a mobile loan available to Amref Sacco members. To qualify for a loan, you need to have 3 months of active membership.The loan has the following features:
• Enables a member to acquire assets & finance other development projects.• Maximum Amount – 3.5 times member’s deposits.• Repayment period – 60 Months.• Interest charged – 1% p.m. on a reducing balance.• Loans security accepted: guarantors, title deed, log book.
The loan is aimed at increasing a member’s deposit in order to qualify for a loan.• Maximum boosting amount: 50% of member’s current deposits.• Application for boosting must be accompanies by a loan application.• A member does not qualify for boosting if taking a self guarantee loan.• The boosted amount will be charged 5 % one off interest recovered in full when paying out the new loan.• The boosted deposit will earn interest on deposit at the end of the year.
An addition to the normal loan.• Normal Loan can be refinanced twice subject to ability to repay and within 3 times deposit multiplier.• Interest charged: – 1% p.m. on a reducing balance.• Repayment period: – period remaining from the time the original normal loan was granted.• Loan security accepted: Guarantors, title deed, log book
Caters for college and university fees.• Maximum Amount: 3.5 times member’s deposits.• Maximum period: 24 months.• Interest charged: 1% p.m. on reducing balance.• Loan security accepted: Guarantors.• The fee structure should be attached.
Maximum amount: 3.5 times member’s deposits.• Maximum repayment period – 12 months.• Interest charged- 1% p.m. on a reducing balance.• Loans security accepted – guarantors.• Loans of KSh 50,000 and less – Granted without supporting document.• Loans exceeding KSh 50,000 – Applicant will be required to provide proof of the emergency.• Loan amounts of KSh 150,000 and below are disbursed through M-Pesa.
This facility enables members to apply for new loans after paying a long-term loan for a specific period. It also enables a member to combine various loans into one so as to ease their financial obligation. The rates are as follows :
The bridged amount shall be recovered in full from the proceeds of the new loan.
Caters for primary and secondary fees.• Maximum Amount: 3.5 times member’s deposits.• Maximum period: 12 months.• Interest charged: 1% p.m. on a reducing balance.• Loans security accepted: guarantors.• The fee structure should be attached.
It’s very important especially if you have urgent financial needs.The loan will get approved within 24 hours.
• Maximum amount – Salary limit.• Maximum repayment period – 1 month.• Interest charged – 3% fixed (one off).• Loan amounts of KSh 150,000 and below are disbursed through M-Pesa.• No guarantors required.
List of Amref Sacco payment methods: M-PESA paybill 840300, Checkoff, Direct Debit, Bank Deposits and Transfers.
Checkoff
Consult your payroll office for the Member Organizations
Direct Debit
A direct debit is a regular payment that’s approved by the customer/member but set up and controlled by the organisation (beneficiary) you are paying, in this case, AMREF SACCO.It is convenient for the member given that the SACCO cordinates the form completion and submission to the member’s bank on behalf of the member. The member does not need to visit their bank. Direct debits reduce cost of collection for the member as it is an electronic payment.
Bank Deposits and Transfers
Instant Payment Confirmation with Mpesa
When you make payments using Mpesa payment codes, you can expect immediate account updates. To ensure seamless processing, please note the following:
1. Mobile Banking Registration: To have payments reflected instantly in your account, it is essential that you are registered for mobile banking. Payments should be made using your registered mobile banking number.
2. Payment Instructions: Use the Paybill number 840 300 in combination with the relevant Account Number (refer to the image below) to initiate your transactions.
Our Offices
AMREF Health Africa Kenya Building, off Langata RoadP.O.Box to 18604-00100, NairobiNairobi, Kenya
Phone Numbers
Tel: 020 6002184/5/6
Mobile: +254 722 139 585 +254 729 139 585 +254 732 515 797
Email Address
Email: info@amrefsacco.org
Working Hours:Mon – Fri 8:00 am-4:30 pm
Check-off members checklist
Non- check off checklist
Guarantor requirements / LOAN SECURITY ACCEPTED
OTHER CONDITIONS
After 6 months of monthly savings and upon attaining share capital of Ksh 10,000 with the exemption og Karibu M-Cash Loan which is after 3 months
• Go to your Mpesa Menu• Go to Lipa na Mpesa• Select Paybill• Enter business number: 840300• Account number: 30*Mobile (Note: type the word mobile and not your mobile number digits)• Amount: Your outstanding loan amount.• Enter your Mpesa Pin number and send.(Please note that although interest is recovered upfront, loan has to be paid as per original amountborrowed)
• Dial 27630#• Select option 1: Karibu M-Cash Loan• Under loan type: Mobile (Note: type the word mobile and not your mobile number digits)• Number of instalments: 1• Enter Amount (Maximum amount is 20,000)• Enter your pin (as set during self-activation)
Karibu M-cash loan is a mobile loan available to Amref Sacco members. The loan has the followingfeatures:• Ksh 20,000 loan limit• Ksh 7.5% one-off interest rate• No paper work needed• No guarantors required• Repay within 60 daysNote:
Save my name, email, and website in this browser for the next time I comment.