Below are important details about Newfortis Sacco:

Newfortis Sacco Paybill

How to make a deposits to your NewFortis Account or pay a loan using your mobile phone.

1. Go to M-pesa Menu, select Lipa na M-pesa, then select PAYBILL

2.Go to M-pesa Menu, select Lipa na M-pesa, then select PAYBILL

3. Enter Business No 339450
4. Enter NewFortis Account Number as follow:
5. Enter Amount you wish to deposit
6. Enter MPESA PIN.

Newfortis Sacco Contacts

• Phone:  +254709924000
• Email: info@newfortissacco.coop
• Open: Monday – Friday, 9.00 AM to 4:00PM.
• Saturday 9.00 AM to 12.00 PM

Newfortis Sacco loans

FOSA Loans

Salary Advance

• Depends on Member’s ability to pay
• Repayable in 12 Months
• Interest rate 0.83 % per Month
• Secured by 4 guarantors
• Pay point is Newfortis Fosa

Mwalimu special loan

• Depends on Member’s ability to pay
• Repayable in 24 Months
• Interest rate 0.625 % per Month
• Secured by 4 guarantors
• Pay point is Newfortis Fosa

Fanikisha loan

• Depends on Member’s ability to pay
• Repayable in 36 Months
• Interest rate 0.6 % per Month
• Secured by 4 guarantors
• Pay point is Newfortis Fosa

Premier loan

• Depends on Member’s ability to pay
• Repayable in 42 Months
• Interest rate 0.7 % per Month
• Secured by 4 guarantors
• Pay point is Newfortis Fosa

Jiinue loan

• Depends on Member’s ability to pay
• Repayable in 66 Months
• Interest rate 0.7 % per Month
• Secured by 4 guarantors
• Pay point is Newfortis Fosa

Fosa Pride

• Depends on Member’s ability to pay
• Repayable in 84 Months
• Interest rate 0.7 % per Month
• Secured by 4 guarantors
• Pay point is Newfortis Fosa

BOSA Loans

Development loan

• Granted 4 times of the Member’s non-withdrawable deposits
• Repayable in 120 Months
• Interest rate 6.5 % per annum.
• Secured by 4 guarantors.

Preferential loan

• Granted 5 times of the Member’s non-withdrawable deposits
• Repayable in 120 Months
• Interest rate 6.5 % per annum.
• Secured by 4 guarantors.

Pride Loan

• Depends on Member’s ability to pay
• Repayable in 84 Months
• Interest rate 0.7 % per Month
• Secured by 4 guarantors.

School Fees loan

• Depends on Member’s ability to pay
• Repayable in 36 Months
• Interest rate 0.54 % per Month
• Secured by 4 guarantors.

Emergency loans

• Depends on Member’s ability to pay
• Repayable in 24 Months
• Interest rate 0.54 % per Month
• Secured by 4 guarantors.

Lainisha Bosa

• Depends on Member’s ability to pay
• Repayable in 72 Months
• Interest rate 0.7 % per Month
• Secured by 4 guarantors.

Savings products

Member Deposits

This is the monthly deposit made by a member against which they take loans, guarantee loans and earn interest/rebate at the end of the year.

The minimum contribution is KES 1000 per month

Share Capital

• Maximum contribution of KES 20,000
• Allows you to gain a shareholder’s certificate
• Right to vote for area representative.
• Earns yearly dividend.
• Mandatory initial contribution of ksh.2,000
• Shares not refundable but transferable

Fixed; Call/Fixed Deposit

• Minimum amount is Kshs.30,000
• Contract period is 3 months, 6 months, 9 months and 12 months.
• Competitive interest rates above market rates.
• A customer who wishes to terminate the contract before the contract period ends forfeits the interest earned.

Christmas Account

• No minimum amount
• Allows on to save throughout the year and access the money between 20^th December to 20^th January

Savings Account

• An account that can be used to process salaries, pension and any other payments.
• No withdrawal limits.
• Cheques can be deposited into the account for clearing.
• Withdrawals can be made via mobile banking or over the counter.

Junior Account

Account tagged under the guardian who must be a member. This account is designed for children who are between birth and 18 years

Who can join the sacco

The Sacco is open to everyone including civil servants, business community, farmers, institutions both private and public, churches ,microfinance groups etc

What happens if one transfers shares/deposits from another sacco?

A member is supposed to remit a cheque in favour of NewFortis Sacco and at least one deduction from the employer. For the Unemployed one is given a loan upto 80% of the shares

How long does it take for a loan to be processed?

It will take less than 30 minutes for the loan to be processed according to the capability of an individual, for business members it will depend on the nature of security offered, for instance in case of land valuation has to be done and also charging process hence it may take less than 10 working days.