How to become a Member of Amref Sacco, loans, Paybill Number, Customer Care Contacts

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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.

How to become a member of Amref Sacco

Join as a checkoff Member

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:

  1. Complete the application for Membership Forms
  2. Complete sections A, D & E of the membership form and attach a copy of your ID and KRA Pin certificate.
  3. Submit form with all fields filled and relevant documents attached to  info@amrefsacco.org.

Membership, Benefits and Conditions

  • Pay Ksh. 2,000 entrance fee which is deducted from the initial member deposit contribution.
  • Pay the minimum share capital of Ksh 30,000 (payable in a maximum of 12 installments of Ksh. 2,500).
  • Pay a minimum of Ksh. 2,000 every month toward the member deposit account.
  • Member qualifies for loans after 6 months of membership.
  • Membership withdrawal – 60 days written notice is required. An exit fee of Ksh 2,000 will be charged.
  •  FREE last expense cover for all active members. Ksh 150,000 funeral costs is payable to nominated next of kin upon a member’s demise. 
  • 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.

Join as a Referral Member

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:

  1. Complete the Referral Membership Form (download from the website)
  2. Complete sections B, C, D & E and attach a copy of your ID, KRA Pin certificate and either of the following:
    • Employment contract/appointment letter or 
    • business registration certificate or 
    • a canceled cheque or 
    • a letter from your Kenyan Bank confirming that you are an account holder with them.
  3. Submit form for approval with all fields filled and relevant documents attached to info@amrefsacco.org

Membership, Benefits and Conditions 

  • Pay Ksh. 2,000 entrance fee which is deducted from the initial member deposit contribution.
  • Pay the minimum share capital of Ksh 30,000 (payable in a maximum of 15 installments of Ksh. 2,000).
  • Pay a minimum of Ksh. 2,000 every month toward the member deposit account.
  • Member qualifies for loans after 6 months of membership.
  • Membership withdrawal – 60 days written notice is required. An exit fee of Ksh 2,000 will be charged.
  • FREE last expense cover for all active members. Ksh 150,000 funeral costs is payable to nominated next of kin upon a member’s demise.
  • 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 3 million.

Join as Member Organizations

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.

Join as a Corprate Member

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.

Amref Sacco Saving Products

Share Capital Account

• 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.

Holiday Savings Account

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 GROUP LAST EXPENSE COVER

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

  • Cash payment for funeral expenses
  • Coverage for both natural and accidental death
  • Extension of cover to include riots and HIV-related deaths

FEATURES

  • Coverage for principal member, spouse, children, and the optional inclusion of parents and parents-in-law
  • Term of cover: Renewable annually

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

  • Coverage: Nuclear family including parents and parents-in-law (maximum of 10 family members)
  • Additional Dependents: Families with fewer than 10 members can add a dependent at no extra cost, up to the maximum family size of 10
  • Claims: Up to 6 claims per family per year, maximum of 2 claims for parents/parents-in-law
  • Premium: Kes 6,328 per year (Kes 528 per month)

 Option 2: Individual or Nuclear Family Cover

  • Coverage: Single member, member and spouse, or member, spouse, and children (maximum of 6 family members). Note: Parents and parents-in-law are excluded in this option.
  • Additional Dependents: Members with fewer than 6 family members can add a dependent at no extra cost, up to the maximum family size of 6
  • Premium: Kes 1,306 per year (Kes 109 per month)

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.

Member Deposit Account

• 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.

Junior Savings Account

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

Property Savings Account

• 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

Fixed Deposit & Call Account

With a Minimum Investment: KES 50,000 Start your journey toward financial growth with AMREF SACCO.

Key Features

  • Flexible Tenures: Whether you’re planning a short-term goal or a long-term dream. Choose from 3 to 12 months
  • Peace of Mind: Your principal amount is safe and sound, earning interest while you focus on what matters most.
  • Roll-Over Option: When your tenure ends, you can seamlessly roll over your principal and interest into a new period.
  • Guaranteed interest rate: Revised rates per annum (see table below)
TenureLess than
500,000
500,000 to
999,999
1,000,000 to
1,999,999
2,000,000 to
4,999,999
5,000,000 to
9,999,999
10M and ·
above
3 ·Months8.00%8.25%8.50%8.75%9.00%9.25%
6 ·Months8.00%8.50%8.75%9.00%9.25%10.00%
9- Months8.00%8.75%9.00%9.25%9.50%11.00%
12- Months8.25%8.75%9.25%9.50%10.00%12.00%
Call deposit6.00%6.25%6.50%6.75%7.00%7.50%

Amref Sacco Loans

Miliki Mortgage Financing Loan

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:

  • Multiplier: Up to 4 times your deposits
  • Repayment Period: 10 years (120 months)
  • Maximum Loan Amount: No maximum limit, determined by a multiplier of 4 times your deposits
  • Interest Rate: 1.25% per month on reducing balance
  • Security: The property itself (joint ownership until the loan is repaid in full) and/or guarantors
  • Note: Financing does not cover third-party fees.
  1. Loan Eligibility Confirmation- Confirm your ability to repay by presenting to the Loans department your payslip and/or your 6-months bank statement.
  2. Identifying the House – Member to identify a house within his/her budget as guided by the deposit multiplier (4 times of deposits less other existing loans) and ability to repay (no. 1 above).
  3. Member obtains Offer letter or Sale Agreement from the seller.
  4. Loan application – Member applies for a loan by submitting the following documents to the Sacco office for Assessment:
    a) Loan application form
    b) Sale agreement
    c) Copy of the lease document. Lease period not less than 50 years.
    d) ID copy
    e) KRA pin copy
    f) Payslip (2 months) or Bank statement (6 months)
  5. Valuation – Member to select a valuer from the approved AMREF SACCO panel of valuers. Member is to negotiate valuation charges with the valuer. AMREF SACCO will issue instructions to the valuer chosen by the member to conduct the valuation and submit the valuation report to AMREF SACCO. The Sacco shall finance an amount not exceeding the valuation amount.
  6. Security perfection/ Charging process – This is done by AMREF SACCO’s lawyer once the loan is approved. It involves transferring ownership from the seller to the joint ownership of the buyer and AMREF SACCO. A letter of the undertaking will be issued to the seller of the property for the release of the original certificate of title, transfers, and other relevant documents.
    This legal process will take approximately 90 days (3 months) with the following charges incurred by the member:
    • Lawyer fee (as negotiated by the member with the lawyer)
    • Stamp duty
  7. Domestic insurance cover/ Mortgage protection payment-This figure is computed based on the Insurance Value indicated on the valuation report.
  8. Loan disbursement: – Once the securitization process is completed, AMREF SACCO will disburse the loan as per the details in the sale Agreement.

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:

LUMPSUM AMOUNT (KES)WAITING PERIOD
500,000 and belowZero waiting period
500,001 to 2 Million30 days
Above 2 Million60 days

CAR LOAN

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

  • Expanded Vehicle Options: Now financing vehicles up to 10 years old, an increase from the previous 8-year limit.
  • Comprehensive Insurance: Your vehicle will be comprehensively insured for three years, ensuring peace of mind.
  • Vehicle Tracking: Each financed vehicle will be equipped with a tracking device from vendors recommended by the SACCO.
  • Increased Dealer Options: We have expanded our network to include five reputable car dealers.

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:

LUMPSUM AMOUNT (KES)WAITING PERIOD
500,000 and belowZero waiting period
500,001 to 2 Million30 days
Above 2 Million60 days

Jipambe Merchandise Loan

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.

Advance Against Expected Dividends Loan

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

Normal Loan

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.

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:

LUMPSUM AMOUNT (KES)WAITING PERIOD
500,000 and belowZero waiting period
500,001 to 2 Million30 days
Above 2 Million60 days

Shamba Loan

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.

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:

LUMPSUM AMOUNT (KES)WAITING PERIOD
500,000 and belowZero waiting period
500,001 to 2 Million30 days
Above 2 Million60 days

Insurance Financing Loan

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.

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:

LUMPSUM AMOUNT (KES)WAITING PERIOD
500,000 and belowZero waiting period
500,001 to 2 Million30 days
Above 2 Million60 days

Karibu M-Cash Loan

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:

  • Maximum Loan amount KSh 50,000
  • The credit limit will be graduated upward from KSh 10,000, 20,000,30,000,40,000 to 50,000 depending on repayment history and credit scoring.
  • The interest rate is as follows:
    1. KSh 20,000 and below, the interest rate of 7.5% one-off, and a maximum repayment period of 60 days.
    2. KSh 20,001 to KSh 50,000 interest rate of 8.5 % one-off and a maximum repayment period of 90 days.
  • A default will lead to the member being barred for 6 months from accessing any other short-term loan products.
  • No paperwork needed
  • No guarantors required.

Property Loan

• 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.

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:

LUMPSUM AMOUNT (KES)WAITING PERIOD
500,000 and belowZero waiting period
500,001 to 2 Million30 days
Above 2 Million60 days

Deposit Boosting Loan

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.

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:

LUMPSUM AMOUNT (KES)WAITING PERIOD
500,000 and belowZero waiting period
500,001 to 2 Million30 days
Above 2 Million60 days

Instant Pesa

  • Maximum amount – KSh 200,000 subject to member’s deposit.
  • Maximum repayment period – 10 months.
  • Amounts up to KSh150,000 interest charged at 6% (one-off)
  • Amounts between KSh.150,001 to KSh 200,000 interest charged 7% (one-off)
  • Loan amounts of KSh 150,000 and below are disbursed through M-Pesa.
  • No guarantors are required.

Re – Financing Loan

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

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:

LUMPSUM AMOUNT (KES)WAITING PERIOD
500,000 and belowZero waiting period
500,001 to 2 Million30 days
Above 2 Million60 days

Higher Education Loan

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.

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:

LUMPSUM AMOUNT (KES)WAITING PERIOD
500,000 and belowZero waiting period
500,001 to 2 Million30 days
Above 2 Million60 days

Emergency Loan

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.

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:

LUMPSUM AMOUNT (KES)WAITING PERIOD
500,000 and belowZero waiting period
500,001 to 2 Million30 days
Above 2 Million60 days

Bridging Finance

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 :

  •   At 50% of the repayment period or the outstanding balance at 5% one-off interest.
  • At 35% of the repayment period or the outstanding balance at 6% one-off interest.
  •   At 18% of the repayment period or the outstanding balance at 7% one-off interest.

The bridged amount shall be recovered in full from the proceeds of the new loan.

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:

LUMPSUM AMOUNT (KES)WAITING PERIOD
500,000 and belowZero waiting period
500,001 to 2 Million30 days
Above 2 Million60 days

School Fees 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.

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:

LUMPSUM AMOUNT (KES)WAITING PERIOD
500,000 and belowZero waiting period
500,001 to 2 Million30 days
Above 2 Million60 days

Salary Advance

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.

Amref Sacco Paybill Number, Payment methods and payment procedure

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

BANK  A/C NAME A/C NUMBER BRANCH 
COOPERATIVE BANK OF KENYA         AMREF SACCO        01 12 00 40 12 08 00       Langata Road 
NATIONAL BANK OF KENYA AMREF SACCO  01 00 90 85 65 30 00  Wilson Airport 
NCBA BANK AMREF SACCO  26 36 65 00 38 Riverside Branch 

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.

How to pay money to Amref Sacco via Mpesa Paybill Number

  • Select Lipa na Mpesa
  • Select Paybill
  • Enter Business Number:840300
  • Enter Account Number:Amref Sacco Account number to send money to
  • Enter Amount—eg Ksh 1,000
  • Enter Mpesa Pin and send

AMREF Sacco Customer Care Contacts and working Hours

Our Offices

AMREF Health Africa Kenya Building, off Langata Road
P.O.Box to 18604-00100, Nairobi
Nairobi, 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

How to apply for a loan at Amref Sacco

Check-off members checklist

  • Provide dully filled loan application form
  • Provide 2 current payslips (consecutive months)
  • Check-off members’ may also provide alternative sources of income (Bank statement or Mpesa Paybill/Till statement) as proof of ability to repay.
  • Provide required number of guarantors and/or collateral for loans secured with title deed or logbook 
  • Provide additional supporting documents where required, for example, fees structure, hospital bill.

Non- check off checklist

  • Provide dully filled loan application forms
  • Provide 2 current payslips or 6 months certified bank statements
  • Provide required number of guarantors and/or collateral for loans secured with title deed or logbook
  • Provide additional supporting documents where required, for example, fee structure, hospital bill.
  • Provide a commitment letter stating the preferred mode of loan repayment and copies of standing order or direct debit form where applicable.

Guarantor requirements / LOAN SECURITY ACCEPTED

  • Three guarantors- for loans above Ksh100,000
  • One guarantor for loans of Ksh 100,000 and below, payable in 12 months or less.
  • Self- guarantee allowed if loan amount is within a member’s deposits and member has not guaranteed others.
  • A member can guarantee a maximum of 13 loans subject to 3.5 times deposits
  • Motor vehicles of 8 years and below up to a maximum of 50% of the value.
  •  Land & buildings in urban areas up to a maximum of 70 % of the value. 
  • Only ACTIVE members can guarantee loans.

OTHER CONDITIONS

  • Loan eligibility – To qualify for a loan, a member has to save for six (6) months with the exception of the Karibu M-cash loan which require 3 months active membership.
  • Loan processing fee – 1.2% on amount applied for subject to a minimum of KSh 500 and a maximum of KSh 10,000 inclusive of taxes (excise duty). Payable in 12 months.
  • Loan insurance – KSh 0.2 (cents) per 1,000 per month (loan period). The insurance covers loan against death or permanent disability. Payable in 12 months.
  • All LOAN CHARGES – including processing fees and insurance, are deducted from the approved loan amount. The member receives the net amount in their account.

When you are eligible to apply for a loan

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

Amref Sacco mobile banking charges

Transaction TypeCharges
All notifications (SMS responses)Ksh 10
Cash withdrawal to own MpesaKsh 60
Transfer to other MpesaKsh 60
PayBills/ Buy GoodsNo charge
Airtime purchaseNo charge

Amref Sacco loan repayment procedure

• 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 amount
borrowed)

Amref Sacco loan application process

• 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)

How to apply for Amref Sacco mobile loan and maximum amount

Karibu M-cash loan is a mobile loan available to Amref Sacco members. The loan has the following
features:
• Ksh 20,000 loan limit
• Ksh 7.5% one-off interest rate
• No paper work needed
• No guarantors required
• Repay within 60 days
Note:

  • To qualify for the mobile loan, one must be a member for a period not less than three months.
  • The loan amount cannot exceed deposits held.
    Defaulted Loan
    − Defaulted loan will be charged an additional 5% interest on late payment
    − Default interest charged to will be recovered together with the loan balance from the member’s
    deposits on the 7th day from the default date.
    − Defaulters will be barred access to mobile loan for 6 months.
    − Defaulters will not qualify for the mobile loan or any other short loans (Instant & Salary
    advance) until the deposit offset is restored to the original amount. Thereafter, the defaulter
    member can only qualify for a loan equivalent to 50% of the amount defaulted.

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