Below are important details about UN Sacco:
Membership Requirements
Membership is open To
- Staff of United Nations Agencies
- Staff of Diplomatic Missions & approved International Organizations in Kenya
- Immediate family members of the primary members – Spouses and Children
Requirements
An aspiring member is required to:
- Provide the dully filled membership application form accompanied by a copy of their national ID (Passport for non-Kenyans), employment letter or pay slip and a passport size photograph.
- For kin members, a birth certificate (for children membership) or marriage certificate (for spouse membership) is required.
UN Sacco Savings Products
Member Deposits Account
Features
This is a long-term Savings account
A default savings account is opened for all members upon joining
You can borrow up to 7 (seven times) the amount in this account
It earns attractive interest annually
Junior Savings Account
Features
The account name is under the child’s name; the guardian/parent will have the sole mandate to operate it
The minimum amount you can save monthly is KES. 500. Lumpsum deposits are encouraged
You can withdraw from the account once every 3 months
It earns competitive interest rates
The account attracts no monthly charges nor any maintenance fees
With this account, you can access the Junior Education Loan
FOSA Savings Account
Features
It earns attractive Interest monthly
With this account you will: get a VISA debit card accepted globally, access to Banker’s cheques for payments on request, transact on your mobile phone using MSACCO among other added features
No monthly charges or account maintenance fees
Fixed Deposit Account
Features
This account is suitable for saving funds for a predetermined future need or speculation
It earns attractive returns
Minimum saving period of 3 months while maximum is 12 months
Interest is calculated daily and credited at the maturity of the contract period
Accrued interest is forfeited if you withdraw the funds prematurely before the maturity date
You will be issued with a Certificate of Deposit upon depositing the money
Upon maturity you can rollover the principal together with the interest, or collect interest and rollover the principal, or collect both principal and interest
UN Sacco Loans
Development Loan
Features
You can access up to KES. 30 million
Qualifying amount is 95% of a member’s savings not guaranteeing any loan
Interest rate is 11.5% p.a. on reducing balance
Repayment period of 120 months
The loan security is tied to the member’s own deposits (no guarantors required)
Available to all members borrowing within their deposits as long as the deposits are not attached to any loan.
Asset loan is excluded when considering the available deposits
Plot Financing Loan
Features
The product is available to all members for the purpose of purchasing vacant land/plots within and around the 4 cities in Kenya
The plot considered must be within the defined city or boundaries as follows: Nairobi-50 KM radius, Mombasa-30 KM radius, Nakuru & Kisumu-20 KM radius
You can use this credit product to acquire plots on offer by WanaMataifa Investment Company Ltd:- the investment arm of UN DT SACCO
Access 7 (Seven) times of your deposits up to KES. 15 million
Financing will be up to: – 90% open market value of City properties & 100% sale price of UN DT SACCO/WanaMataifa sponsored properties
Comfortable repayment period up to 96 months (8 years)
Low interest rate of 11.9% p.a. on reducing balance
Sale agreement, copy of title deed/ lease and valuation report to accompany the loan application
Valuation to be done by valuers on the UN DT SACCO panel of valuers
First and final charge on the property being financed in favor of UN DT SACCO
Secured Asset Loan
Features
Access 7 times of your deposits up to KES. 25 million subject to the location of the property; (City – 90%, County – 70%) NB: Agricultural property not currently considered
Interest rate of 14% per annum on reducing balance
The Loan Security is the Asset’s title deed hence no guarantors required
Comfortable repayment period of 15 years (180 months) subject to retirement age
Current employment contract must be at least 6 months or more at the time of application
The loan is currently issued based on Forced Sale Value of the property
Valuation of property by UN DT SACCO shortlisted valuers to be done before loan application
Normal Loan
Features
Access 4 times of your deposits up to KES. 20 million
Repayment period of 60 months (5 years)
Interest rate is 12% p.a. on reducing balance
Loan is secured with member and guarantors deposits
Members borrowing within their deposits are allowed a maximum repayment period, regardless of their contract period
You can have up to 3 Normal loans at a time running concurrently
Emergency Loan
Features
Access 3 times of your Deposits up to KES 1 million
Interest rate is 12% p.a. on reducing balance
Repayment period of 12 months (1 year)
Fast loan processing within 24 hours
Seniors’ Loan
Features
Get 3 (three) times of your deposits of up to KES. 20 million
Repayment period of 48 months (4 years)
Interest rate is 12% per annum on reducing balance
Loan repayment is through pension income
The Loan is secured by the Members own deposits and guarantors or asset (land& Building)
Where an asset is provided, the title deed should not be that of a member’s residential or matrimonial home
Premier Loan
Features
Get 5 (five) times of your deposits up to KES. 20 million
Comfortable repayment period of up to 84 months (7 years)
The interest rate is 15% p.a. on reducing balance
The Loan is secured by the borrower and guarantors’ deposits
Loyalty Loan
Features
Access 4 (four) times of your deposits up to KES. 20 million
Comfortable repayment period of up to 84 months (7 years)
The Loan is secured by the borrower and guarantors’ deposits
The interest rate is 12.5 % on reducing balance
Current employment contract must be at least 6 months or more at the time of loan application
Instant Loan
Features
Access 3 (three) times of your deposits up to KES. 5 million
Comfortable repayment period of 36 months (3 years) for applicants with a current contract period of more than 9 months or a maximum repayment period of 30 months for any applicant with a current contract period between 5 to 9 months
The Interest rate is 14.5% p.a. on reducing balance
Education Loan
Features
Access 3 (three) times your deposits up to KES. 3 million, subject to ability to repay
Interest rate of 12% per annum
Repayable within 12 months (1 year)
Maximum number of loans restricted to 3 Education loans, with total amount not exceeding Kshs.3 million.
The Loan is secured by the borrower and guarantors’ deposits
UN Sacco Customer Care Contacts
UN SACCO Building, United Nations Complex, UN Avenue, Gigiri, Nairobi, Kenya
UN SACCO CENTRE, UN Crescent, Gigiri, Nairobi, Kenya.
+254 709 115 800
+254 20 762 2700
customercare@unsacco.org
What is Share Capital?
It is a requirement by the Regulator that all SACCO’S have a minimum amount of share capital and therefore all Members should have some shares to qualify them to be part of the owners of the SACCO. In our case, KES. 50,000 has been set as the minimum amount to be maintained by every Member.
How do I contribute towards my Share Capital?
We have designed our system so that each Member must contribute a minimum KES. 50,000 in Share Capital before they can build up their deposits. Share Capital can be contributed in installments or in one lump sum by a Member.
A Member can increase his/her share capital by making a direct deposit to our bank account or a Funds transfer to our bank account.
UN Sacco Minimum monthly contributions
Members are required to make monthly contributions of at least KES 2,300.
What do I need when applying for a loan?
A Member will require
Except for settling down loan a Member must have been an active contributing Member for at least three months
A dully filled loan application form
A minimum of three (3) to five (5) guarantors who must be active Members and have continuously contributed for at least six months.
A Certified current employment letter and a current certified pay slip.
A copy of an acceptable form of identification (National ID/Valid Passport)
