Below are important details about Nandi Sacco:
Saving products
Member Savings/Deposit
- Minimum monthly deposit: KSh. 500
- Entitles members to loans up to three times their deposits/Savings.
- Earns interest on Member Deposits annually.
- Deposits are reimbursed upon written request, paid after 60 days.
FOSA Savings Account
- Opening fee of Ksh. 500
- Minimum balance 500
- Account holder has access to all credit facilities with flexible terms
- Salary processed through this account.
- Access To Internet/M-banking Services.
- inter-account transfers is Ksh. 50
- Standing orders is Ksh. 200
- Zero Charge Operating account/No ledger fee
Junior Savings Account
- 500/= 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).
- Full or partial withdrawal is allowed after term maturity (12 months from the fixing date).
Christmas Savings Account
- KSh 500 minimum monthly or periodical lumpsum.
- Withdrawable only in the month of December.
- Minimum saving period: 3 Months.
- Attracts interest per annum.
- Minimum interest earning balance: Ksh 10,000.
- Member to give written instruction in case they want to roll over to a new fixed term.
- Full or part withdrawal allowed after term maturity.
Fixed Deposits Savings Account
- Minimum amount for fixing is Kshs.30,000
- No monthly fees charged
- Interest calculated and paid on maturity. From 3 to 12 months
- No maximum limit
- Earns attractive annual returns of up to 10.5%.
- Roll-Over Option: When your tenure ends, you can seamlessly roll over your principal and interest into a new period.
Group Savings Account
- Ksh 1,000 Account opening.
- Minimum account balance of Kshs.2,500
- The Group to provide minutes authorizing the opening of the account, the names of the signatures and the mandate.
- Provide a current certificate of registration.
- The account to earn interest at the prevailing market rates on savings accounts at the closure of the financial year.
Share Capital
It is a long term investment that gives a member a permanent ownership of the society.
- KSh 10, 000 per member (minimum) payable one-off or in 12 equal instalments.
- Earns dividends annually.
- Shares are transferable to other members upon exit
Loans
School Fees Loan
- Caters for primary and secondary fees.
- Maximum Amount: 3 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
Development Loan
- Enables a member to acquire assets & finance other development projects.
- Maximum Amount – 3 times member’s deposits.
- Repayment period – 36 Months.
- Interest charged – 1% p.m. on a reducing balance.
- Loans security accepted: guarantors, title deed
Emergency Loan
- Maximum Amount: 3 times member’s deposits.
- Maximum period: 12 months.
- Interest charged: 1% p.m. on a reducing balance.
- Loans security accepted: guarantors etc.
- Applicant will be required to provide proof of the emergency and attach supporting document.
Advance Loan
- Maximum amount – 70% of Income/Salary.
- Maximum repayment period – 1 month.
- Interest charged – 10% fixed (one off).
- No guarantors required
Special Advance Loan
- Maximum amount – 70 % of three months accumulated Income/Salary.
- Maximum repayment period – 3 month.
- Interest charged – 8% per month.
- Collateral balance of 30%.
Contacts
+254746 728 564
info@nandifarmerssacco.co.ke
nandi_sacco@yahoo.com
Along Police Rd, Nandi Hills Town, Kenya.
Nandi Sacco Membership Requirements
- How do I register and become a member of Nandi Farmers SACCO?
You can register yourself by simply visiting our Offices or filling our Membership form and sharing via email: info@nandifarmerssacco.co.ke. However, there are a few requirements you need tprovide to be come a member. That is;
- Personal details including but not limited to: Full names, Email, KRA PIN, Recent Passport Photo, National ID Number, Phone Number and Next of Kin.
- Registration Fee of 1,000
To register use the Following Key Approaches:
How do I register in the Office or Via Whatsapp?
Visit any of Our Offices, or Agents. Our Head Office is Located at Nandi Hills Town, Nandi Hills Or Branch Located at Maraba town, Tinderet Sub-County and Ask for the Registration form.
- Pay the registration fee – To become a member, you have to pay the registration fee via paybill. Paybill No: 118812 Account Number is your ID number followed by R e.g 12345678R
- If you are in our office hand over the Form to the Officer in charge Or Forward the message to the Office number +254746728564
- The Officer will request your personal information (Full names, ID and phone number), register you and issue a member Number.
- Once issued with the Member no, you can pay the minimum share capital of 10,000 (Please note, you can start paying pole pole, it is not amust you pay the whole 10,000 at once).
- Start saving. Save at least 500 a month (You can save whatever amount you want).
Karibuni sacco tukuwe members.
- I have registered, what next?
Welcome aboard as a new member of Nandi Farmers SACCO! We’re thrilled you’ve joined us in our mission to foster financial transformation. Now, it’s time to kickstart your savings journey, one step at a time. Your accumulated savings amount determines your loan limits.
To SAVE:
– Dial *250*14# select option 5 for Payments and contributions, Enter the amount you want to save then enter your PIN to complete the transaction. Or
Login to the app, tap Save, and follow the prompts, OR
– Use our Paybill: 118812
Account Number: Your ID Number followed by S (e.g., 12345678S)
But saving isn’t the only benefit of being part of Nandi Farmers SACCO. You also have access to our loan facilities which are designed to improve your financial freedom.
Here’s what you can do next:
- Complete your profile: Ensure that your information is up to date. Upload your picture and ID, and update your next of kin.
- Explore loan options: Familiarize yourself with our loan products and their terms.
- Stay informed: Attend member meetings and events to stay up-to-date on Sacco activities.
- Connect with fellow members: Engage with our community and share insights and experiences.
- Review your goals: Take time to reflect on your financial aspirations and how Nandi Farmers SACCO can partner with you to achieve them.
How do I save or Buy Shares at Nandi Farmers SACCO?
To Buy shares or save your contributions you can use three approaches:
How do I save via USSD?
- Dial *250*14# select option 5 for Payments and contributions,
- Enter the amount you want to save,
- Enter your PIN to complete the transaction. Or
How do I save via the App?
- Login to the Nandi Farmers SACCO app,
- tap Account Pay,
- On the popup Screen, enter the amount you want to save and tap Submit
How do I save via Mpesa
- Go to Paybill
- Enter Paybill Number: 118812
- Enter Account Number: MD followed by your ID Number (e.g., MD12345678, For ChristMas Savings SC12345678)
- Enter the Amount you want to save and click OK.
- An STK push will promt you to enter your Pin. Enter your Pin and click OK
How Do I borrow a Loan?
To Borrow a Loan you can use the Following three Approaches
How do I Borrow a Loan via USSD?
- Dial *250*14# and select option 4 for Borrow.
- Enter the amount you want to Borrow,
- Enter the repayment repayment periods in months you want to pay, and you will receive a confirmation message .
- If its Instant loan, the loan will be disbursed to your mpesa,
How do I borrow Using Nandi Farmers App?
- Login to Nandi Farmers SACCO App
- In the Home Screen tap “Apply Advance Loan”
- Tap on the Loan product you want to borrow (Each loan product have a description, go through each product and choose one that best suits your needs)
- Enter the Amount you want to Borrow and the duration then Tap “Submit”
- In the next page, you will be notified if the Loan if the Loan is “Fully Guaranteed” If fully guaranteed, tap confirm Loan. Otherwise, add guarantors until it is Fully Guaranteed then tap “Confirm Loan”
- You will receive a Promt asking if you are sure or not, Click Yes.
- If it is an Instant Loan, the loan will be disbursed to your transaction account where you can transfer to your Mpesa, or use it for other transactions.
How do I borrow a Loan in the Office?
Visit our office and fill out the Loan forms then Submit to the Loan Officer for Review. Note, you can also request the form to be sent via email, fill out, Scan then send back. Our email address is info@nandifarmerssacco.co.ke the loan officer will review your form, if qualified, disburse the funds to your Mpesa.
How do I pay my Sacco Loan?
You can pay your Sacco Loan using 3 approaches
How do I pay my Loan using USSD?
- Dial *250*14#
- Select option 5 Pay Loan,
- Select the loan ID you want to pay,
- Enter the amount,
- then enter the Pin and press Ok,
How do I pay my Loan using Nandi Farmers SACCO App?
- Login to the app,
- Tap on Pay Loan,
- Choose the Loan you want to pay, on the popup screen click submit.
- An STK push will prompt you to enter your Mpesa Pin.
- Enter your Mpesa Pin and click OK.
How do I Pay a Loan using Nandi Farmers SACCO Paybill?
- Go to Paybill,
- Enter our Sacco Paybill Number: 118812
- Account Number: LN followed by your ID Number (e.g., LN12345678, AD12345678 for Advances)
- Enter the Amount
- An STK push will prompt you to enter your Pin. Enter your Pin and click OK
What is Share capital Account?
The share capital account is where records of transactions of Share capital (non-withdrawable deposits) purchased is kept. The minimum share capital is Ksh 5000 (10 shares of 500 each). After registration, any savings you deposit to the Sacco is transferred to the share capital account until you attain the minimum shares. If you purchase share capital from other members of Nandi Farmers SACCO, it will also be captured in the share capital account.
If I don’t want to be a member anymore, is it possible to exit the Sacco?
Yes, if you do not have any outstanding loan or guarantee a loan that it is still uncleared, you only need to write an email or send a letter to notify the Sacco. The notice expires after 60 days and your refund is made. Otherwise, you need to clear your loan, and find guarantors to replace you in all the uncleared loans you guaranteed before exit.
Can I save for someone else?
Yes, you can.
- Go to Mpesa,
- Lipa na Mpesa
- Enter business number 118812
- For account, enter the ID Number of the member e.g 12345678
How do I become a Nandi Farmers SACCO Agent?
Each Nandi Farmers SACCO membership number enables them to be agent at will. The member is required to share their Member No with people interested to Join the Sacco during recruitment. Potential members are required to use the member’s referral code when registering.
- Ksh 100 instantly when a person you refer pays the registration fee.
- Additional Ksh 200 when a member fully pays the minimum Share capital
