Mwito Sacco headquarters is located in Nairobi. It’s one of the Saccos to join and get a loan,save your money and earn dividends through shares.

Mwito Sacco Contacts

Working Hours & Location

Mwito Sacco office is  open for business between 0830Hrs (8.30AM) and 1600Hrs (4PM) East African time on weekdays. The front office is open for service to customers during this time.

We are located at Ngara Estate next to Kenya Institute of Curriculum Development (K.I.C.D ) some two (2) Kilometers from Nairobi City Center.

Mwito Sacco Hotline Numbers

Mwito Sacco Society Ltd

P.O BOX: 56763-00200 Nairobi

info@mwitosacco.coop

www.mwitosacco.coop

CUSTOMER CARE: 0715-555 390, 020-3505209, 0713786028, and 0785-715392

IT/ATM DEPT: 0728505820

CREDIT/LOANS DEPT: 0728 505 800

FINANCE DEPT: 0786 588 666

Mwito Sacco Membership Requirements

Becoming a member is easy

To be a member kindly fill in the membership application form,attach a copy of your id and send it to info@mwitosacco.coop or drop them at our office. This form shall be drawn to show all the information required for the purpose of registration of a member.To complete the membership you are required to pay kshs 1000 membership fee and kshs 3,200 minimum monthly contributions.

Membership Requirements Summary

1. Duly Filled Membership Form
2. Copy of Your ID/Passport
3. KRA Pin
4. 2 Passport Photos
5. Joining fee of Ksh 1,000 and Share capital of Ksh. 20,000(Can Be paid gradually)
6. Minimum monthly contribution of Ksh. 3,200

If you have any questions about becoming a member, just give us a call on 0715555390 or 0203505209, email us at info@mwitosacco.coop

Benefits of Being a Member

• Enjoy affordable credit products for as low as 1% interest rate p.m
• Benefits accruing from our products are paid back to members as dividends on share capital and rebates on deposits.
• Members through the electoral process influence decisions affecting the running of the society.
• Enjoy exemplary services from our  esteemed team onsite and online.
• Access your accounts with ease through our Fosa Sacco link card and M-Mwito (Mobile banking Solution)

Download Application Form

 

Click icon to download

 SCAN & SEND

Send the forms & ID copy to info@mwitosacco.coop

  Pay Membership Fee

Pay through Mpesa Pay bill no. 339650 A/c no. ID Number

  Get Contacted

one of our esteemed staff will call you to confirm the transaction and membership details

Mwito Sacco FOSA Products

FOSA Products at a Glance

• Processing payment of salaries done immediately cheques are received.
• Immediate payment of members loans upon receipt from the Society (BOSA).
• Clearing of third party cheques.
• ATM Cards: MWITO SACCO is currently in partnership with Co-op Bank to provide ATM services to our members across the country.
• Standing order facility.
• Sale of Co-operative Bank bankers cheques.
• Safe custody services for valuable documents and certificates.

FOSA (Front Office Savings Account)

REQUIREMENTS

• Copy of ID and presentation of original ID for verification
• Two coloured passport photographs,
• Minimum account balance amount of Kshs 500
• Sacco link card.

CHIDREN/MTOTO ACCOUNT

REQUIREMENTS

• Minimum balance of Kshs 500.
• Interest earning kshs 5,000.
• Child operates account at age 18 yrs.
• No penalty on amount below minimum for 1st 6 months

Holiday Savings Account

REQUIREMENTS

• Minimum monthly savings Kshs 1000.
• Minimum savings period will be six months.
• Withdrawal will be once in a year.
• Attractive interest rates.
• One loses interest in case of premature withdrawal.

Education Savings Account

REQUIREMENTS

• Minimum monthly savings kshs 1,000.
• Withdrawal once in a year.
• Attractive interest rates.
• Interest credited at the end of the year.

Group Account

REQUIREMENTS

• Copy of ID and presentation of original ID for verification.
• Two coloured passport photographs, of the three group signatories.
• Group by Laws, and Minutes authorising account opening.
• Certificates of registration from the social Services.
• Minimum account balance amount of Kshs 500 and passbook at kshs

SALARY IN ADVANCE

REQUIREMENT

• Instant salary processing
• Competitive salary processing fee
• Salary in Advance – Full net salary at 10% interest rate.
• 24 hr access to funds through Mwito Sacco Link VISA branded ATMs and POS
• Mobile banking
• Internet Banking

FOSA Advance

REQUIREMENT

• To all members who process their salary through Fosa account.
• Maximum of kshs 150,000.
• Repayment period of 12 months.
• Instant processing.
• 5% interest rate.
• Bosa loans must be performing according to terms.

SACCO LINK 360

REQUIREMENT

Enable members on IFMIS,IPPD payroll & Other Company payroll or those abroad to:

• Transfer funds electronically (EFT) and process their salary through Fosa
• Channel their pension/provident fund through Fosa
• Boost their Deposit/Savings through RTGS and SWIFT

BOSA PRODUCTS

Development Loan

Description

This product is meant to empower Mwito members to engage in development projects e.g buying plots, building houses, farming, starting viable business e.t.c..

Requirements

1. The rate of interest is 1% per month on the reducing balance(6.5% per annum).
2. The multiplier shall not exceed 4 times a contributors deposit.
3. The maximum limit is Kshs 5 million.
4. Repayment period shall not exceed 60 months.
5. Every member applying for a development loan must have completed repaying all other loans at the time of application; however outstanding loans of less than 50% of the new loan (inclusive of external effects and charges) may be offset from the new loan at a fee.
6. Any payment outside the check off to clear a loan or boost deposits may wait at least 1 month before accessing a new development Loan.
7. Clearing outstanding loans in cash/cheque outside check-off system shall attract an equivalent of 3 months’ interest on the outstanding loan.
8. Minimum monthly deposit contribution of ksh.2,000 or 5% of applicant’s basic salary.

TOP UP LOAN

Requirements

1. Top up loan will be as per the borrower’s ability to pay subject to the maximum amount of each product. Existing loans must be fully offset from the Top Up loan at a fee.
2. The maximum amount shall not exceed 4 times the member’s deposits.
3. Repayment period is up to 60 months.
4. It attracts interest at the rate of 1.5 % per month on the reducing balance(9.75% per annum).
5. Member must remain with a net take home (NTH) after offsetting of outstanding liabilities inclusive of offset charges of not less than 40% of the qualifying amount.
6. Clearing outstanding loans in cash/cheque outside check-off system shall attract an equivalent of 3 months’ interest on the outstanding loan.
7. Monthly deposit contribution will be a minimum of Shs. 2,000= or 5% of applicants basic salary, whichever is higher.

MANUFAA LOAN

Requirements

1. Have deposits of not less than Kshs.1,250,000.
2. Shall pledge to maintain a minimum monthly contribution at 10% of their basic salaries or Ksh. 5000.
3. Must have completed repaying all other loans at the time of application, however, outstanding loans of less than 50% of the new loan (inclusive of all charges) may be offset from the new loan at a fee.
4. The loan will be fully guaranteed.
5. The applicant will not be entitled to any other loan before paying off half of sum granted.
6. The multiplier will be four times the deposits.
7. The repayment period will be 60 months.
8. The maximum loan will be Kshs. 10 million.
9. The interest rate will be 1% per month on the reducing balance.
10. Applicant must channel Net Salary through Mwito Fosa Account

EMERGENCY LOANS

Emergency Loan 1 Requirements

1. Every member shall be entitled to only one emergency loan not exceeding Kshs.300,000= at a time.
2. Repayment period shall be within 12 months.It attracts interest at the rate of 1% per month on the reducing balance(6.5% per annum).
3. Monthly deposit contribution will be a minimum of Shs 2,000= or 5% of applicants basic salary, whichever is higher.

SCHOOL FESS LOANS

School Fees Loan Requirements

1. The total outstanding loans, including school fees, must never exceed 4 times the members’ deposits.
2. Repayment period shall be restricted to 12 months.
3. School fee loan cheques shall be sent direct to the School where applicable and necessary.
   It attracts interest at the rate of 1% per month on the reducing balance.
4. Monthly deposit contribution will be a minimum of Ksh. 2,000= or 5% of applicants basic salary, whichever is higher.
5. The maximum amount shall be Kshs 500,000

COLLEGE / UNIVERSITY LOANS

College/University loan 1 Requirements

1. The total outstanding loans, including this loan, must never exceed 4 times the members deposits.
2. Maximum repayment period shall be 36 months.
3. Payment (cheques) shall be sent direct to the colleges/universities where applicable.
4. It attracts interest at the rate of 1% per month on the reducing balance(6.5%per annum).
5. The maximum amount shall be kshs 1000,000.
6. Monthly deposit contribution will be a minimum of Shs. 2,000= or 5% of applicants basic salary, whichever is higher.

College/University Loan 2 Requirements

1. This will be granted even though the applicant is serving college fee 1.
2. The total outstanding loans, including this loan, must never exceed 4 times the members deposits.
   Maximum repayment period shall be 48 months.
3. Payment (cheques) shall be sent direct to the colleges/universities where applicable.
4. It attracts interest at the rate of 1.5% per month on the reducing balance(9.75% per annum).
5. The maximum amount shall be kshs 500,000.
6. Monthly deposit contribution will be a minimum of Shs. 2,000= or 5% of applicants basic salary, whichever is higher.

KARIBU LOAN

This will be accessed by newly employed officers who are less than 12 months old in employment (members) who require support to settle in their new employment. Its conditions are:-

Requirements

1. Show proof of appointment (avail letter of appointment).
2. Must enroll as a member and pay share capital of at least ksh.5,000 .
3. Maximum loan shall be 300,000/=.
4. Interest rate will be 1% per month on reducing balance (6.5% per annum).
5. Repayment period shall not exceed 24 months.
6. Initial Deposits will be offset from the loan.
7. Must complete repayment to qualify for another loan.
8. Monthly deposit contribution will be a minimum of shs. 2,000= or 5% of applicants basic salary, whichever is higher.

INSTANT(PESA WAA) LOAN

This is an instant facility (hakuna maswali) whose conditions are as follows:-

Requirements

1. Maximum amount shall be Shs. 100,000 /=.
2. The repayment period shall not exceed 12 months.
3. The rate of interest is 2% per month on reducing balance(13% PER ANNUM).
4. Monthly deposit contribution will be a minimum of Shs. 2,000= or 5% of applicants basic salary, whichever is higher.

GROUP ACCOUNT (CHAMA)

Requirements

1. Registration fees is kshs 1000.
2. Minimum monthly contribution will be kshs 5000
3. Group constitution to be submitted during registration.
4. Group minutes should be availed during registration.
5. Certificate of Registration to be submitted during registration.
6. Qualifying period shall be six (6) months.
7. Loan granted shall be 90% of the group’s total savings.
8. Maximum repayment period is “Loan Product Type” based.