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K-Unity Sacco Loans, Membership Requirements, Paybill, Customer Care Contacts and Savings Products

Business This Day
Table of Contents Hide
  1. Loans Products
    1. Agri Loans
    2. SME Loans
    3. Salary Loans
    4. Group Loans
    5. Other Loans
  2. Savings Products
    1. Akiba Savings Account
    2. Boresha Account
    3. Jijenge Deposits
    4. Shirika Savings Account
    5. Watoto Account
    6. School Fees Account
    7. Holiday Savings
    8. Benevolent Fund
    9. Imarisha Savings
    10. MFI Member Savings
    11. Chama Savings
  3. Diaspora Account
  4. Frequently Asked Questions
  5. Mapa Insurance
  6. K-Unity Sacco Branches and Contacts

Below are the loan products, saving products, contacts and other details about K-Unity Sacco:

Loans Products

Agri Loans

Kilimo (Unsecured)

• Available to Agri based businesses
• Loans are up to Kshs 500,000/=
Below Kshs 300,000, 24months
Above Kshs 300,000, 36 months
• Maximum repayment period of up to 24 months
• Attractive Interest rate is at a reducing balance (15%)
• 2/3 rule must apply
• Minimum monthly savings to Jijenge of Kshs 500.
• Minimum deduction at the point of deduction of 2% of the loan
• No security

Kilimo (Secured)

• Available to Agri-based business operations
• Loans are up to Kshs 50,000,000/=
• Jijenge monthly minimum contribution of Kshs 1,000
• Maximum repayment period of up to 84 months
• Attractive Interest rate is at a reducing balance
• First 5million-3% appraisal fee, Anything above Kshs 5million -2% appraisal fee
• 2/3 rule must apply
• Security: title deed, motor vehicle or fixed deposit with the Sacco

Mifugo

• Available to all farmers based in livestock raring areas
• Loans available after months of operations
• Loans are up to Kshs 500,000/=
• Loans above Kshs 500,000/=
must be secured by a title deed, motor vehicle or fixed deposit
• Jijenge deductions of at least Kshs 500 per month.
• Attractive Interest rate.

Kilimo Advance

• Available to dairy and tea farmers
• Maximum repayment period of up to 3 months
• Advance up to 2/3 of he expected monthly net payment
• Loans are up to Kshs 300,000/=

Tea Bonus Advance

• Available to tea farmers
• Maximum repayment period of up to 24 months (2 years)
• 120% of the previous tea bonus payment-2 years
• 85% of the previous tea bonus payment-1year

SME Loans

SME (Unsecured)

• Available to Business enterprises
• Must have operated the account for at least 6 months.
• Jijenge deposits to be Kshs 500 minimum per month.
• Loan up to Kshs 500,000/=
• Maximum repayment period of up to 36 months
• No security
• Attractive Interest rate is on a reducing balance

SME (Secured)

• Available to business enterprises
• Must have operated the account for at least 6 months
• Maximum repayment period of up to 84 months
• Security: Title deed, logbook
• Attractive Interest rate is on a reducing balance
• Loans up to a maximum of 50Million.

Salary Loans

Salary (Unsecured)

• Available to salaried employees,
• Loan are up to Kshs 500,000/=
• Maximum repayment period:

Below Kshs 300,000, 24months
Above Kshs 300,000, 36 months
• Attractive Interest rate in reducing balance.
• 2/3 rule must apply.
• No security.
• Monthly Jijenge contribution of Kshs 500.
• Jijenge deduction 2% one off on loan issue
• For borrowers of Kshs 500,000, they must have at least Kshs 50,000 in Jijenge.

Salary (Advance)

• Available to salaried employees and pensioners
• Maximum repayment period of up to 3 months
• Advance up to 2/3 of he expected monthly net payment
• Loan are up to Kshs 300,000/=

Salary (Secured)

• Available to salaried employees,
• Loans are up to Kshs 10,000,000/=
• Jijenge monthly deduction of Kshs 2,000 for check off loans.
• For the other non-check off, Jijenge monthly contributions of Kshs 1,000.
• Maximum repayment period of up to 84 months
• 2/3 rule must apply
• Must be secured by either title deed, motor vehicle or fixed deposit
• Interest Rate on reducing balance.

Group Loans

Micro Finance Loans

• Available to all registered organized group members
• Loans available after 6 weeks of operations
• Monthly savings of not less than Kshs 1,500 per month or Kshs 300 per week.
• Loans are 4 times the savings balance
• Interest Rate on reducing balance.
• Repayment Period of up to 36 Months.

Chama loans

• Available to organized registered groups for asset acquisition
• Loans available after 6 months of operation
• Security: Title deed, logbook
• Minimum members of a chama should be at least 5 members
• Consider 90% of contributions during lending.
• Interest Rate on reducing balance.

Other Loans

Jijenge Loan

• Available to all Jijenge account holders
• Amounts are 4 to 5 times the balance of the Jijenge savings
• Maximum repayment period is up to 84 months
• Security: guarantors, title deed and logbook

Society Development Loan

• Available to cooperative societies
• Loans are up to Kshs 50,000,000/=
• Maximum repayment period of up to 60 months
• Interest rate is at a reducing balance
• 2/3 rule must apply
• Security: Title deed, logbook, and fixed deposit

Asset Finance Loan

• Available to all members
• Loan is from 80% of the total purchase price.

Customer to meet the balance of 20%
• Maximum repayment period of up to 60 months
• Interest rate is at a reducing balance.
• The vehicle must be comprehensively insured under MAPA insurance agency.
• 2/3 rule must apply
• Security: Title deed, logbook
• On tracking, for high value vehicles e.g. 3million and above, to be installed with 2 trackers.
• In case of a motor vehicle, joint registration must be done, and logbook will be held by the Sacco until loan id fully paid.
• The motor vehicle should be less than 8 years of age.

Overdrafts Loan

• Available to all business enterprises
• Accounts with deposit turnover more than Kshs 100,000 per month
• Security: Title deed, logbook

Trade Financing

(LPO/Invoice Discounting/Performance Bonds)
• Available to all our customers
• Maximum 2/3 of the LPO with a maximum of Kshs 500,000/=
• Invoice discounting is also incorporated.
• Amounts above Kshs 500,000/-

must be secured by either Motor Vehicle, title deed or fixed deposit.

Insurance Premium Financing

• Available to all ourcustomers
• Loan for insurance premium payment
• Maximum period is up to 10 months.

Savings Products

Akiba Savings Account

Boresha Account

Jijenge Deposits

• Minimum monthly deposit of kshs.300/-
• No monthly ledger fees.
• One qualifies loan 4 to 5 times the deposits saved in the account.
• Withdrawal upon giving a notice within 60days and free from co-guarantee.
• Deposits withdrawn during the year will not earn interest.
• Minimum monthly contributions to be Kshs 300 for customers.
• Interest rates to be as follows;
* Below 1million – 7.5% p.a
* Above 1million-2million 8%-p.a
* Above 2million- 9%p.a
• Withdrawal charges apply

Shirika Savings Account

This account is ideal for societies
• Minimum balance kshs.500/=
• Monthly ledger fees of kshs.300/=
• The society management can apply for a personal cheque
• Withdrawal charges apply.

Watoto Account

• This account will instill your child the culture of saving at an early age.
• Minimum operating balance kshs.500/=
• No monthly ledger fees.
• The account is withdrawable three times a year
• The parent or guardian can operate the account until the child reaches age of majority.

School Fees Account

• This account helps parents/ guardians.
• Minimum operating balance is 500/=
• Withdraw is restricted to three times in a year at back-to-school periods.
• Three free bankers’ cheques per year to be given to customers.
• No monthly ledger fees.
• Withdrawal charges apply.
• The parent or guardian can operate the account until the child attains the age of majority

Holiday Savings

Are you a Holiday lover?

Benevolent Fund

• No minimum operating balance.
• Kshs 600 Contribution per annum for one individual and Kshs 1,200 for a couple per annum.
• No monthly ledger fees.

Imarisha Savings

This account is for entrepreneurs and salaried employees (Small Scale)
• A minimum balance of kshs.110.
• No monthly ledger fees.
• Withdrawal charges apply.
• One can access ATM Card,Unicash and Pay bill.

MFI Member Savings

• Weekly savings of Kshs 300
• Free financial literacy training once per year with certificates.
• No monthly ledger fees.
• One qualifies loan 4 times of the funds saved in the account.
• Withdrawal upon one leaving the group and free from co-guarantee

Chama Savings

• Minimum opening balance of kshs 2,000/=
• No monthly ledger fees.
• Maintenance fee Kshs 100 per year to be charged in December.
• Withdrawal to be Kshs 100 per transaction

Diaspora Account

Key Features of The Diaspora Account

Requirements

Frequently Asked Questions

Can I use mobile banking

Yes, once you have registered with our mobile banking you can withdraw from your current account, deposit, view mini statement and transfer funds.

Can i get a loan when i am in diaspora

Yes, you can access both secured and unsecured loans while in the diaspora. check out our loan products

What is the procedure for remitance in the diaspora

1.The funds are deposited in to Equity bank

2.The customer emails the transaction details to  info@k-unity.co.ke

3.The customers K-unity account will be updated

Mapa Insurance

Motor Insurance

SME & Corporate Insurance

Comprehensive

Scope

RATE FOR MOTOR PRIVATE: 6% to 3.5% depending on the vehicle.

RATE FOR MOTOR COMERCIAL:.4.5% own goods
: 5.5% General cariage

Third Party

Scope

Rate: 7,574(CIC, UAP, BRITAM)
:4580(Direct line insurance)

Motorcycle Insurance

Comprehensive:5% value of the motor bike minimum 5,000

  1. Motorcycle private:3,194
  2. Motorcycle PSV:3,651

Fire

A fire insurance policy provides comprehensive protection against any damage caused due to fire explosion, caused due to either movable or immovable property

All premiums are based on quotation

RATE 1.25%-2.5% MINIMUM 2,500

Buglary

It covers the Loss of or damage to the property Insured caused by theft following actual forcible and violent entry into or exit from the premises.

The premiums are based on quotation.

RATE: 0.0005 PER MILLE MINIMUM 2,500.

Biashara Salama

Covers for the physical lose or damage to the property as described in the schedule which is limited to Stocks in trade and business-related items as below:

RATE:1.1%Minimum 1,547 for stock up to 5M.

Micro Insurance

Livestock insurance

Covers livestock against the below:

RATE 3.5% THE VALUE OF THE ANIMAL.

Standard personal accident

Cover provides monetary payments in the event of bodily injury sustained by the insured. The injury must be caused by violent, accidental, external and visible means subject to the option selected by the insured and will compensate the affected member if injured.

The policy offers benefits under the following categories:

Jilinde personal accident

The policy will provide monetary payments in the event of bodily injury sustained by the insured. It covers injury caused by violent, accidental, external, and visible means, subject to the option selected by the insured.

Cover is available under the following benefits:

  1. Death
  2. Permanent total disability
  3. Hospitalization cash payout
  4. Medical expenses

Domestic package

Indemnity to the insured in respect of loss or damage caused by fire, lightning, thunderbolt, earthquake, volcanic eruption, subterranean fire, explosion, riots and strikes, malicious damage, and special perils as per policy.

It covers the below section:

  1. Buildings
  2. Contents
  3. All risk
  4. W.I.B.A(Work Injury Benefit Act)
  5. Owners Liability
  6. Occupiers Liability

Premiums are based on Quotations.

All Risk

The policy covers any movable items against Fire, Burglary, Theft, Loss and accidental breakage

Premiums are based on Quotations.

W.I.B.A(Work Injury Benefit Act)

This is an insurance cover that protects employers, should their employees incur injuries or die in the course of their work.

Premiums are based on Quotations.

Travel Insurance

This is an insurance that covers the costs and losses associated with unexpected events incurred while traveling.

Premium: number of days your travelling*the dollar rate

Bond Insurance

This insurance covers is a type of insurance policy that a bond issuer purchases that guarantees the repayment of the principal and all associated interest.

Premium: based on quotation according to the value of the bond.

Health Insurance

From the age of 18years-65years
Seniors From 70years -85years

F.A.Q.

How i do get a quote?

Call our call center on 066 2022816/+254 707 424 774 and get  your quote  processed in 24 hrs and will be valid for 30days.

Can I pay in installments?

Exactly! This is what is great about mapa you can pay your premium in an easy and flexible 3 month’s installments.

How do i pay?

We have two payment options

How do i make a claim?

Our claim process is very simple call us on 066 2022260 / 0793255856 and we will take you through 

K-Unity Sacco Branches and Contacts

Kiambu

Githurai

Kagwe

Kiriita

Wakimbo

Suswa

Mai-Mahiu

Ruaka

Nairagie Enkare

Gikomba

Kikuyu

Gikambura

Limuru

Wangige

Banana

Kamwangi

Contact: 0701 846 821

Location :

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