Below are important details about Kwetu Sacco:
Become a Member
Kwetu Sacco DT has expanded and opened its common band to accommodate diverse customers in the Kenyan markets and beyond. Our membership are drawn from the following areas:-
1. Teachers Service Commission (TSC)- Both active and retired members
2. Kenya National Union of Teachers (KNUT)- Both active and retired members
3. Public Service Commission and other National Government commission such as police service commissions
4. County government employees
5. Staff from private institutions and NGOs
6. Business Community
7. Both large and small farmers
8. Registered Groups/Chama’s
Savings Accounts
ORDINARY SAVINGS ACCOUNT
Access to loans and advances
- Suitable for salaried members
- Competitive Salary processing fee
- Access to loans and advances.
- Visa cards available
- Class A FDR
WEZESHA SALARY ACCOUNT
Suitable for low income members and Non-teaching staff
Suitable for low income members and Non-teaching staff such as B.O.G staff, staff from private sector, Pastor’s, church employees and County ECED Teachers
FAIDA SAVINGS ACCOUNT
Savings account that earns competitive interest rate per annum
Savings account that earns competitive interest rate per annum. Suitable for both employed and biashara members
GIRAFFE JUNIOR ACCOUNT
For children below 18 yrs
- For children below 18 yrs
- Competitive Rate of return
- Withdrawal once in a year
- Available on check off, free paybill and standing order
- Piggybanks available
- Minimum operating balance of ksh 1000
BIASHARA ACCOUNT
Available for all Biashara members
- Available for all Biashara members
- Visa cards available
- Unlimited withdrawals
- Free paybill deposits.
- No maintenance fee.
- Access to biashara loan
KANISA ACCOUNT
Suitable for religious organizations
- Suitable for religious organizations
- No monthly charges.
- Eligible for loan after consistently saving for 6months.
- Free chaque book
- Free paybill
- Competitive fixed deposits rates
CORPORATE ACCOUNT
Suitable for registered companies & institutions
- Suitable for registered companies, institutions and small cooperatives
- Eligible for Loans after 6 months of consistent savings.
- Free chaque book
- Free paybill deposit
KWETU GROUP ACCOUNT
Suitable for Registered groups and organized welfare associations
- Suitable for Registered groups and organized welfare associations
- No monthly charges.
- Loans Eligibility after 6 months of consistent savings through asset financing
Loans
EMERGENCY LOANS
Processed within a day and repaid within 1 year
- Granted based on paying power and four times your shares
- Maximum repayment period will be 12 months
- Mode of payment is check off.
- The loan will be processed Instantly
- Security for the loan will be salary, shares and guarantor’s shares and salary.
SPECIAL NORMAL LOAN
Suitable for buyoffs of loans
- Suitable for buyoffs of loans from both Commercial banks and micro credit organizations
- Our Sacco has financial capacity to clear customer loans with other bank
KILIMO LOAN
Suitable to boost agribusiness activities
BIASHARA LOAN
Suitable loan for business ventures
- A member must have operated a Biashara account 3-6 months
- Loan is 3 times their savings
- Business assessment done by a Relationship Officer
- Provide business photos and business permit
- Sketch maps for residential and business area
EXPRESS NORMAL LOAN
Processed within 24 hrs | Repayment period of 72 months
- Maximum amount qualified will be based on available amount x 4 your deposits
- Maximum repayment period will be 60 months
- Mode of payment is check off.
- The loan will be processed instantly
- Principal loan repayment to be done together with the interest repayment (special)
- Security for the loan will be salary, shares and guarantor’s shares and salary.
KARIBU LOAN
Repayable within 60 months
- Mainly suitable for our new members,
- Repayable within 60 months.
SUPER 72 LOAN
Repayment within 72 months.
- Super 72 shall be granted as long-term loan for Sacco active members
- Maximum Repayment period is 72 Months
- Loan processing period is 3 weeks after registration
- Maximum amount qualified will be based on the available amount x 4 your deposits.
- Security for the loan will be salary, shares and guarantor’s shares and salary.
NORMAL LOAN
Developmental loan for all our existing members
- Granted based on paying power and four times your shares
- Maximum repayment period will be 60 months
- Mode of payment is check off.
- The loan will be processed within a period of three weeks
- Security for the loan will be salary, shares and guarantor’s shares and salary.
SINKING FUND
Insurance for all active members in case of demise
- Insurance for all active members in case of demise, loans are waived and share deposits are paid to the next of keen *2
A sinking fund is a fund containing money set aside or saved to pay off a debt or bond. A company that issues debt will need to pay that debt off in the future, and the sinking fund helps to soften the hardship of a large outlay of revenue. A sinking fund is established so the company can contribute to the fund in the years leading up to the bonds maturity.
NEW FOSA LOANS
Processed within 2 hours
- FOSA Loans are granted to all salaried fosa account holders
- Loan is processed within two (2) hours
- The repayment period is Eighteen (18) months
- The maximum amount granted is based on the net salary.
- Security for the loan is salary, shares and guarantor’s shares
PUMUA LOAN
Eligible to only FOSA salaried members
- This loan has a grace period of 6 months
- Payment period of 12 months
- Processed with a day
- Loan not based on number of shares
- Maximum amount Kshs. 30,000/=
- Recovery is through our FOSA
SALARY/LOANS ADVANCE
Available to FOSA salaried members
Available to FOSA salaried members and advanced to all loans products
We understand that as an employee, you might encounter financial challenges in trying to make ends meet particularly due to the current high cost of living.
Whereas a number of lifestyle adjustments can be made to ensure that your income fits your budget, it is impossible to adjust some important cash needs such as emergencies, school fees, rent or critical occasions such as birthdays, anniversaries or weddings.
Our Salary Advance Loan offers you access to bridging finance that allows you meet your financing needs such as bill payments or settlement of outstanding debts in a smooth manner.
Contact
Location: Machakos Town, Machakos County, Kenya.
Mobile: 0722 840 682
Email: customercare@kwetusacco.com
