Jamii Sacco Kenya review: How to join the Sacco, Savings Products, How to buy shares, Loans, paybill number and customer Care contacts

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Below are important details about Jamii Sacco Kenya, which include how to join the Sacco,who to join the Sacco,how to pay your loan through Mpesa,list of loans,savings products and customer care contacts.

Who Can Join Jamii Sacco Society

  • Any person can join Jamii Sacco from all the segments of the market including:
  • Public Service employees.
  • Other Government Ministries and Parastatals
  • Employees of Jamii Sacco Society
  • Government Institutions/Parastatals such as Kenya National Library Services, WEF
  • Employees in Private Companies and NGO’s
  • Self –Employed Individuals
  • Self-Help Registered Groups and Community Based Organizations.

How to become a member of Jamii Sacco Society

Fill in membership forms that can either be downloaded from Jamii Sacco website or can be obtained from the offices or from the delegates at every county.

  • Attach a Copy of the National Identity Card and a passport size photograph.
  • Entrance fee Kshs. 1,000
  • Minimum Monthly Contributions currently Kshs. 3300 and Kshs. 300 being Jamii Benevolent Fund Monthly.
  • Minimum Share Capital of Kshs. 20,000 .

What is required to open a FOSA Savings Account at Jamii Sacco Society

  • Proper Identification documents ( National ID card or Passport)
  • Passport size photo to be taken upon opening of the Account
  • Opening Balance of Kshs 1,000

Loan payment methods

  • Through Check off system –deduction by the employer.
  • Bank Standing Order
  • Cash Payment through the FOSA or Society’s Bank Account at Co-operative Bank of Kenya.
  • M-Pesa Pay bill number 532200

Jamii Sacco Paybill Number

Paybill: 532200

How to pay Jamii Sacco loan via Mpesa

  • Go to Mpesa
  • Select Lipa Na Mpesa
  • Select Paybill
  • Enter Business Number: 532200
  • Enter Account Number(Jamii Sacco account number to send money to)
  • Enter Amount
  • Enter Mpesa pin and send

Jamii Sacco Customer Care Contacts

products-services

 Jamii Sacco Court P.O.Box 57929 – 00200, Nairobi
 Mukenia Road, South ‘B’ Phone 0207903200 / 0207903200
 Next to Mater Hospital   Mobile: 0207903200/ +254715961545/  +254712852762
  Email: info@jamiisacco.com

JAMII SACCO DEPARTMENTS MOBILE TELEPHONE CONTACTS.
We wish to remind you of the Departmental mobile numbers as provided in the following table to enable us serve members better (promptly, effectively and efficiently).

Departments Mobile Numbers 
 General Lines 0207903200/  0712-852762/0736-613863/0715-961545/020-6552448/77
 Marketing Department 0207903200/ 0704-914143/0718-006820
 Loans Department 0207903200/ 0705-413446
 Registry Department0207903200/ 0704-282099
 IT Department 0207903200/ 0704-911087
 FOSA Department 0207903200/ 0714-988982
 Credit Department0207903200/  0712-788301
 Audit Department 0207903200/ 0712-042954
 Risk Department 0207903200/ 0722-254747
 Micro- Credit Department 0207903200/ 0795-059471/0712-788235
 Jamii Housing 0207903200/ 0707-455647
 Accounts Department 0207903200/ 0712-788251
 Procurement Department 0207903200/ 020-2633331

Head Office: Jamii Sacco Court, Mukenia Road, South
‘B’ Next to Mater Hospital
Address: P.O. Box 57929 Nairobi 00200 Kenya
Tel: +254 (020) 552477/48 / +254 (020) 6552523
Mobile: +254715961545/ +254712852762
Email: info@jamiisacco.com

Jamii Sacco Saving products and accounts

Sawa Savings Account

This Account is ran as a savings and withdrawal account with salaries and loans being processed through it.

Main Features of the Account:

  • Minimum operating balance of Ksh. 1,000.00 which you can build slowly by slowly.
  • Interest earning balance is Kshs. 1,000.00
  • Deposits and withdrawal open 24/7. This can be done over the counter (Teller), Through ATMs OR Mobile Banking.
  • This is a facility for payments of all loans, salaries, refund and dividends.
  • To qualify for Fosa loan you must operate this account.

Requirements

  • Proper Identification documents ( National ID card or Passport)
  • Passport size photo to be taken upon opening of the Account
  • Opening Balance 1,000/-

Jamii junior savings account

As the name suggests it is an account for our children and grand children

Features

  • Minimum opening balance Kshs. 500/-
  • Minimum monthly savings Ksh. 200/-
  • Interest earning balance Kshs.5,000/-
  • 3 withdrawal per year
  • Home saving braded piggy bank on Account opening
  • Account to be operated by parent/guardian for the child upto 18 years
  • No ledger fees on this account
  • Child’s Birth Certificate Required

Requirements

  • A copy of the child’s birth certificate
  • The Parents/Guardian Identication card or Passport
  • Passport size photo of the Parent/Guardian to be taken upon opening of the Account
  • One recent Passport size Photograph of the Child

Golden savings account

It is advisable to open and start operating this account early enough so as to enjoy your sunset years. This account can be accessed immediately after retirement.

Features

  • Minimum operating balance Kshs. 500/-
  • Minimum monthly savings Ksh. 200/-
  • Interest earning balance Kshs. 5,000/-
  • Savings are withdrawable after 3 years of deposits and or upon resignation from service or attaining mandatory retirement age.
  • Savings can be pledged as security for Sacco loans

Requirements

  • Proper Identification documents ( National ID card or Passport)
  • Passport size photo to be taken upon opening of the Account
  • Opening Balance 500/-

Special Deposit Account

Main Features of the Account:

  • Minimum balance of Ksh 20,000.
  • Tiered interest rates
  • You can receive your interest monthly, quarterly, bi-annually, or annually.
  • Your money will be invested for you during the fixed deposit period
  • Facility for collateral on borrowing – this account acts as a security on acquisation of a sacco loan.

Requirements

  • Proper Identification documents ( National ID card or Passport)
  • Passport size photo to be taken upon opening of the Account

Holiday savings account

This account is designed to help you achieve your Holiday dreams.If you want to visit Dubai,Zanzibar or any local holiday destination, open this account.

Features

  • Minimum operating balance Kshs. 500/-
  • Minimum monthly savings Ksh. 200/-
  • Interest earning balance Kshs.3,000/-
  • Withdrawals once in a year

Requirements

  • Proper Identification documents ( National ID card or Passport)
  • Passport size photo to be taken upon opening of the Account

Jamii Housing Scheme

JAMII HOUSING CO-OPERATIVE SOCIETY LIMITED

What is Jamii Housing Society?

What are the requirements for joining the Jamii Housing Society?

  • Must be a member of the Sacco
  • Must be above 18 years of age
  • Entrance fee of Kshs 2,000/= paid once.
  • Attach copy of National ID card.

What are the sources of Fund for the Housing Society?

Housing Society has two sources of funds:

  • Entrance fee
  • Shares

For the Sacco to establish a capital base, every member will be required to contribute non –withdrawable shares of Kshs 20,000 or 200 shares of Kshs 100 each. Members should accumulate shares within six months.

What Activities and Programs will be undertaken through the Housing Society?

The members of the housing society together with the interim committee will work together to identify land to be purchased within Kenya. When land has been identified, interested members will be advised to contribute towards the purchase of the same. You may pay in cash or borrow a loan from Jamii Sacco society or any other source.

What are the benefits of joining the Housing Society?

  • Easy acquisition of plots/ land through the Housing Society.
  • Easy access to loans to develop the purchased plots.
  • Easy processing of individual titles of ownership.
  • A member may choose to sell his plot / land for a higher gain.

How do you withdraw for housing Society?

A member may withdraw from the Housing Society subject to the following conditions;

  • Clearance of any Housing Society liabilities.
  • Giving the Housing society 60 days notice.

At this point a member may transfer shares to an existing member or next of kin.

Interested members are invited to register and join the co-operative society to benefit from acquisition and development of property

For more information contact: Chief Executive Officer’s Office and the Marketing Office
Phone: 020- 552448/552477
Mobile No: 0704-914143/0736-613863

Jamii Sacco Share Capital

This is a unit of ownership of the SACCO and members earn dividends on the same annually when declared. The Share Capital is not withdrawable but can be sold or transferred to an existing member upon one’s withdrawal from the SACCO. The minimum share capital is Kshs.20, 000.00 or 1000 shares of Kshs.20.00 each.

Reasons why a member should have a Share Capital account:

  • To drive the SACCO business.
  • To meet the SASRA requirements that is the Institutional Capital.
  • It’s a long term investment with annual return.

Members who have not attained this new minimum threshold should strive to do so at the earliest opportunity through the following means:

  • Mpesa PayBill.
  • Standing Order.
  • Cash Payment to the society.
  • Check-off System
  • Deduction of approved loans.

Insurance Loan(Premium Product)

This product finances full insurance premium for motor vehicle where members take comprehensive insurance cover with an identified insurance company namely: Co-operative Insurance Company (CIC), Madison Insurance or Direct line depending on the type of cover or any other approved insurance underwriter. The features are as follows:

  • Facility available to members of Jamii SACCO and operating a FOSA accounts.
  • 12 months repayment period.
  • Granted at 10% of member deposit.
  • Granted based on the member’s ability to pay.
  • Interest rate of 13.5% on reducing balance.
  • One month grace period.

Jamii Sacco loans, application requirements and interest

Digital Loans

TERMS AND  CONDITONS OF  MOBILE  BANKING  FACILITY. 

The loan is applied and granted through mobile phone and the terms and conditions are as follows:

 Member must subscribe/register to the Sacco M-banking services (Fill Jamii M-Cash Form).

 A member must attain the minimum share capital of Ksh. 10,000.

 Considers a member up to 80% of the member deposits but up to a maximum of Ksh. 50,00 A member can qualify to borrow up to Ksh. 5,000 without graduation subject to attaining the above conditions.

 A member eligible to borrow more than Ksh. 5,000 will be subjected to a graduation factor of 1.5 conducted once in 30 days.

 The interest rate per month will be 5.3% for I month, 6.3% for 2 months, 7.3% for 3 months, 8.3% for 4 Months and 9.3% for 5 months charged on the principal loan one off. The interest will be accrued and not recovered upfront.

Repayment can either be done using either USSD (Dial *879#/*806#), Jamii M-cash App or Paybill number532200. Dial *879# or *806#, then choose in the menu the product type you want to access loan, or deposit and if using Paybill 532200 then keying the account number-ID NUMBER OR MEMBERSHIP NUMBER THEN THE PRODUCT CODE.

Some of the charges that apply for the above services are:

Account Balance Inquiry – Kshs. 10.

 Mini Statement – Kshs. 10.

 Cash withdrawal – Kshs. 50 upto a maximum of Kshs. 70,000 per transaction.

NOTE:

 M/s Safaricom Limited Charges an average of Kshs. 5 in Airtime for every USSD Session.

Asset Finance Loans

Asset Finance is a facility available to all SACCO members who may desire to acquire, develop and own assets/properties. The product is available to meet purchase of various assets as follows:

A) Motorcycle, Water
Tank, Posho Mill, Solar Panel, Water Pump and Generator among others:

The terms and conditions are:

  • Must be a member of the SACCO for a minimum of 3 months.     
  • Loan security is the Asset to be acquired.
  • Loan term is a maximum of 12 months.
  • Asset financed is 3.5 times of the Special savings (one must have special Savings)
  • Loan amount of up to Kshs.300,000 for motorbike, tuk tuk, posh mill, solar panel, generator etc.
  • Grace period is one month.
  • Repayment frequency is daily, weekly, fort-nightly or monthly.
  • Collateral discharge process requires member to apply for release of security from the SACCO upon clearing the loan.
  • The Asset must be fully insured to the term of the loan.

B) Motor Vehicles

Terms and conditions are:

  • Must be a member of the SACCO for a minimum of 3 months.
  • Loan security is the Asset to be acquired.

Loan term is:

  • Brand new Cars(1-7 years) – 48 months
  • Used Cars up to 7 years -36 months
  • Used Cars (8-10 years) -24 months.
  • Loan term is maximum of 180 months for salaried members and 120 months for non-salaried members.
  • The Sacco finances  up to 60% of the  forced value of the motor vehicle.
  • Loan amount of Kshs 4,000,000 as maximum.
  • Interest rate of 1.08% per month or 13 % per annum  on reducing balance.
  • The motor vehicle shall be jointly owned with the SACCO and comprehensively insured to term of the loan.
  • Repayment and collection will be done either through check off, standing order, pay bill or cash.
  • Grace period is one month.
  • Repayment frequency is daily, weekly, fort-nightly or monthly.
  • Collateral discharge process requires member to apply for release of security from the SACCO upon clearing the loan.
  • Valuation, tracking system and legal charge to be borne by the member.
  • Motor vehicle Insurance to be auto-renewed by the Sacco and members to pay the Sacco  the insurance premium loan in 12 equal monthly installments at the rate of 1.08% per month or  13% per annum on reducing balance.
  • Car track device to be installed by reputable service providers appointed by the Sacco and SLAs to be drawn and signed with clear terms and conditions.
  • Log Books to be used as collateral  to be regularly checked/ verified  with NTSA  and the insurers to confirm status by credit administration team.
  • The Sacco will finance specific motor vehicles that have resale value.
  • Matatus  and tractors  will not be financed  by the Sacco  except for the members  who have accessed similar loans and with good repayment history.

C) Mortgage (Land and Property):
The terms and conditions are:

  • Must be a member of the SACCO for a minimum of 3 months.
  • Member to acquire it for buying commercial & residential land( within municipalities & urban areas).
  • Loan term is maximum of 120 months.
  • Asset financed 5 times of Special savings.
  • Loan amount of up to a maximum of Kshs.10,000,000 for commercial land.
  • Financing will be 100% of the purchase price plus the processing fees & other incidental costs.
  • Land must have freehold title or a lease certificate with not less than 20 years before expiry.
  • Maximum loan of Kshs.6,000,000 for agricultural land & limit the collateral value to forced sale value.
  • Grace period is one month.
  • Interest rate of 1.08 % per month or 13 % per annum  on reducing balance.
  • Processing fee is 2% of the cost of the Asset.
  • Collateral discharge process requires member to apply for release of security from the SACCO upon clearing the loan.
  • Valuation and legal charges to be borne by the member.
  • Valuation and Charge to be conducted by SACCO appointed service providers.

Short Term Loan

Jamii Emergency loan

This loan is granted to meet member emergency needs within the shortest time possible.The waiting period not being more than 24 hours.

Basic Requirement

  • One must be a member of Jamii Sacco.                                                  
  • One must have contributed for at least 6 months.
  • Interest rate is 1% per month or 12% per annum on reducing balance.
  • A duly Completed loans application form.
  • Original current pay slips for three months.
  • A copy of the members national identity card.
  • One third (1/3) rule is applicable.
  • One must have one emergency loan at a time.
  • Loan must be guaranteed.

Benefits:

  •  
  • Granted 3 times the member total deposits.
  • Payable in 24 months.

Long Term Loans

Asset Finance Loans

Asset Finance is a facility available to all SACCO members who may desire to acquire, develop and own assets/properties. The product is available to meet purchase of various assets as follows:

A) Motorcycle, Water
Tank, Posho Mill, Solar Panel, Water Pump and Generator among others:

The terms and conditions are:

  • Must be a member of the SACCO for a minimum of 3 months. 
  • Loan security is the Asset to be acquired.
  • Loan term is a maximum of 12 months.
  • Asset financed is 3.5 times of the Special savings (one must have special Savings)
  • Loan amount of up to Kshs.300,000 for motorbike, tuk tuk, posh mill, solar panel, generator etc.
  • Grace period is one month.
  • Repayment frequency is daily, weekly, fort-nightly or monthly.
  • Collateral discharge process requires member to apply for release of security from the SACCO upon clearing the loan.
  • The Asset must be fully insured to the term of the loan.

B) Motor Vehicles

Terms and conditions are:

  • Must be a member of the SACCO for a minimum of 3 months.
  • Loan security is the Asset to be acquired.

Loan term is:

  • Brand new Cars(1-7 years) – 48 months
  • Used Cars up to 7 years -36 months
  • Used Cars (8-10 years) -24 months.
  • Loan term is maximum of 180 months for salaried members and 120 months for non-salaried members.
  • The Sacco finances  up to 60% of the  forced value of the motor vehicle.
  • Loan amount of Kshs 4,000,000 as maximum.
  • Interest rate of 1.08% per month or 13 % per annum  on reducing balance.
  • The motor vehicle shall be jointly owned with the SACCO and comprehensively insured to term of the loan.
  • Repayment and collection will be done either through check off, standing order, pay bill or cash.
  • Grace period is one month.
  • Repayment frequency is daily, weekly, fort-nightly or monthly.
  • Collateral discharge process requires member to apply for release of security from the SACCO upon clearing the loan.
  • Valuation, tracking system and legal charge to be borne by the member.
  • Motor vehicle Insurance to be auto-renewed by the Sacco and members to pay the Sacco  the insurance premium loan in 12 equal monthly installments at the rate of 1.08% per month or  13% per annum on reducing balance.
  • Car track device to be installed by reputable service providers appointed by the Sacco and SLAs to be drawn and signed with clear terms and conditions.
  • Log Books to be used as collateral  to be regularly checked/ verified  with NTSA  and the insurers to confirm status by credit administration team.
  • The Sacco will finance specific motor vehicles that have resale value.
  • Matatus  and tractors  will not be financed  by the Sacco  except for the members  who have accessed similar loans and with good repayment history.

C) Mortgage (Land and Property):
The terms and conditions are:

  • Must be a member of the SACCO for a minimum of 3 months.
  • Member to acquire it for buying commercial & residential land( within municipalities & urban areas).
  • Loan term is maximum of 120 months.
  • Asset financed 5 times of Special savings.
  • Loan amount of up to a maximum of Kshs.10,000,000 for commercial land.
  • Financing will be 100% of the purchase price plus the processing fees & other incidental costs.
  • Land must have freehold title or a lease certificate with not less than 20 years before expiry.
  • Maximum loan of Kshs.6,000,000 for agricultural land & limit the collateral value to forced sale value.
  • Grace period is one month.
  • Interest rate of 1.08 % per month or 13 % per annum  on reducing balance.
  • Processing fee is 2% of the cost of the Asset.
  • Collateral discharge process requires member to apply for release of security from the SACCO upon clearing the loan.
  • Valuation and legal charges to be borne by the member.
  • Valuation and Charge to be conducted by SACCO appointed service providers.

Jamii Normal Loan

This Loan is granted three times of the member’s total deposits is repayable in 48 months.

Basic Requirement

  • One must be a member of Jamii Sacco.
  • One must have contributed for at least 6 months.
  • Interest rate is 1% per month or 12 % per annum on reducing balance.
  • A duly Completed loans application form.
  • Original current pay slips for three months.
  • A copy of the members national identity card.
  • One third (1/3) rule is applicable.
  • Loan must be guaranteed.

Benefits:

  • Quick processing and disbursement
  • Payment period is 48 months
  • Adjudicated once a month

Jamii Project Loan

The new re-engineered Project Loan has the following features:

  • Loan granted four (4) times of  member total  deposits.
  • Interest rate is 1.17% per month or 14% per annum on reducing balance.
  • Maximum repayment period 30 months.
  • Maximum loan of Kshs.1,000,000.00.
  • Available to payroll based members only.
  • Loan must be fully guaranteed.
  • Remittances from employer MUST be up to date.
  • Available to members with existing long term loans or Top Up loans and performing.
  • Recovery within 1/3 rule of the basic salary.
  • Loan attracts 1.5% of the approved amount.

Jamii Mustaafu Loan

This is a facility for retirees and it has the following features:

  • Available to retiree members only
  • The member must be a FOSA Account holder.
  • The member MUST channel their monthly pension through FOSA/ Member provide evidence of ability to pay.
  • A copy of the retirement letter and an official form electing the Jamii SACCO FOSA as the pension pay-point should be attached.
  • Maximum repayment period is 36 months.
  • Ability is computed based on 1/3 rule on member’s net pension.
  • Loans must be fully guaranteed by Deposits or Golden savings account.
  • For self guaranteed loans the loan will be issued 80% of free deposits.

Jamii Jiinue Loan

This is a Top-Up loan granted to members with existing project and/or Normal loans and the features are as follows:

  • Granted 5 times a member’s total deposits.
  • Repayment period is a maximum of 96 months for members in the public service and 84 months for other members.
  • Interest rate is 1.17% per month or 14 % per annum on reducing balance.
  • Maximum limit of Kshs. 6,000, 000.00.
  • Available to all members .
  • Must be secured by guarantors and/or collaterals.

Micro Credits Loans

This product is geared towards supporting small scale entrepreneurs to improve their income generating activities.

Basic Requirement

  • Must be a member of Jamii Sacco with minimum savings of Kshs. 3,400 for a period of 8 weeks.
  • Registration fees Kshs.300 per member.
  • Minimum voluntary savings Kshs. 200 per week or 800 per month.
  • Must be willing to abide by Jamii Sacco lending policies, rules and regulations.
  • Must provide adequate security for the loan/fully guaranteed by group members.
  • Must be a member of a registered self help group operating an account with Jamii Sacco.
  • Must provide current 6 months business record book.
  • Granted three(3) times a member’s Micro Credit savings.
  • Granted up to a maximum of Kshs. 3,000,000
  • Interest rate of 14.5% per annum or 1.21% per month on reducing balance.
  • 2.5 % appraisal fee is applicable.
  • Maximum repayment period is 30 months.
  • Copies of Business documents such as certificate of registration ,KRA PIN and business assessment report/audited report must be provided.
  • To be cleared at 8% after 60% payment of the previous loan.
  • The loan can be cleared after 12 months/ 1 year consistent repayment without default.

Benefits:

  • Loans between Kshs. 10,000 (min) and Kshs. 2,000,000(max) will be made available to individual members in the Micro-credit Program to assist them start or expand own micro-enterprises.
  • Loans are granted 3 times of a member micro/Biashara savings.

Jamii Chama Emergency Loan

This product is geared towards supporting group members to meet Emergency and School fees needs

Basic Requirement

  • Must be a member of a registered self help group operating an account with Jamii Sacco..
  • Granted two(2) times a member’s Micro Credit savings.
  • Granted up to a maximum of Kshs. 50,000
  • Interest rate of 15.5% per annum or 1.29% pm on reducing balance.
  • 2.5% appraisal fee.
  • Maximum repayment period is 12 months.
  • Copies of Business documents such as certificate of registration ,KRA PIN and business assessment report/audited report must be provided

Jamii Mshahara Loan

Fosa loans are available to members whose salaries are channeled through fosa account.     

Features

  • Granted up to 90% of the past net salary
  • Repayment period is one month
  • Interest rate is 10% recoverable upfront
  • Granted within a day
  • Salary is the security/No guarantor is required.

Three Months Advance

The three (3) months advance is a seasonal product granted to members and is recoverable from the interest rebate/dividend when declared and payed.

Features:

  • Available to all SACCO members with FOSA Accounts.
  • A member to complete an application form and attach a copy of National ID card.
  • Processed within 48 hours.

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