Below we provide details about Qwetu Sacco investment products,loans and contacts:

Qwetu Sacco Contacts

Head Office

Contact Details

• P.O. Box 1186-804 Wundanyi
• +254 728 957 585 | +254 728 536 1 69
• info@qwetusacco.com | marketing@qwetusacco.com

Voi Branch Contacts

• HQ, Voi : +254 111 121600
  Wundanyi: +254 728 957 585
  Mwatate: +254 716195 625
  Taveta: +254 728 483 321

Wundanyi Branch Contacts

Wundanyi: +254 711 186842
Voi: +254 738 285 627
Taveta: +254 716 730 960
Mwatate: +254703103969

Qwetu Sacco FOSA Products

Fosa Savings Accounts

Requirement

• Original & Copy of National ID card
• Colored passport Photo
• Minimum opening balance
• Duly filled Membership Form

Key Features

• No monthly maintenance charge
• Free internal standing orders to own savings & investment products
• Earns interest as determined from time to time by BoD

Ordinary Savings Account

• Minimum operating balance Kshs. 1,000
• Salary & pension processing
• Access to FOSA advances and FOSA loans

Qwetu Farmers Account

• Minimum Operating Balance Kshs. 500
• Farmers payout processing
• Access to Agri-business Loans

Qwetu Chama Account

• Group registration certificate
• Minutes and Copy of group constitution
• Members list, at least 7 members
• Minimum opening & operating balance Kshs. 1,000
• Access to micro credit loans
• Access up to 75% LPO Financing

Qwetu Association Account

• Certificate of Registration
• Minutes & copy of constitution / by-laws
• Minimum operating balance Kshs. 1,000

Qwetu Jibambe Account

• Earns 6% p.a interest
• No Minimum Operating Balance
• Minimum Opening balance Kshs. 1,000
• Maximum withdrawal twice per year
• Organized & discounted holiday rates
• Holiday/Gift shopping vouchers/withdrawals

Toto wa Qwetu Account

• Must be below 18 Years
• Produce child’s birth certificate
• Earns 6% p.a interest
• Free branded Piggy Bank
• Annual fun day
• Minimum operating balance Kshs. 1,000
• Maximum withdrawal three times per year

Fosa Saving’s Products

Qwetu Super Deposits

• Earns 10% p.a interest
• Interest payable after 90 days
• Redeemable anytime
• Minimum opening balance Kshs. 2,000

Retirement Savings Plan

• Must be employed or self-employed.
• Minimum contribution of Kshs. 500/= per month.
• Earns 10.5% interest p.a
• Interest payable in full upon retirement
• Redeemable upon retirement

Fixed Deposits

• Minimum Amount Kshs. 10,000
• Minimum Period 3months
• Earns up to 9.5% p.a interest
• Redeemable anytime

Emergency funds

• Savings for unforeseen eventualities
• Redeemable anytime

Fosa Advances

Key Features

• Processed & disbursed immediately
• Processing fee Kshs.200

Requirements / Eligibility

• Must operate FOSA Salary account
• Must channel salary through FOSA for at least 1 month
• Must contribute Member Protection Scheme
• Must contribute Share Capital

Pre Salary

• Processing fee Kshs. 200
• Interest 5% p.m
• Repayment period 1 month
• Amount up to 75% of current Net Pay

Salary Advance

• Processing fee Kshs. 200
• Interest charged 5%p.m
• Repayment period 2 – 6 months
• Amount up to 3 times Net Pay

Prestige Advance

• Processing fee Kshs. 200
• Interest charged 5.5% p.m.
• Repayment period 2 – 10 months
• Amount up to 3 times of net pay Loan Advances.
• Processing fee Kshs. 300/=
• Recovered immediately after loan posting.
• Interest charged 10%
• Amount Up to 75% of the BOSA loan applied

Fosa Personal Loans

Key Features

• Must operate FOSA Salary account
• Must channel salary through FOSA for at least 1
• month
• Must contribute Member Protection Scheme
• (MPS)
• Must contribute minimum Share Capital
• No BOSA shares required during appraisal
• Minimum Amount Kshs.10, 000.
• Interest as low as 1% per month
• Processing fee 2.5% of loan amount
• Repayment period 6-48 months
• At least 3 guarantors
• Processed & disbursed immediately
• Must retain minimum net take home of Kshs. 3,000/=for 12 months & Kshs. 5,000 for loans above 12 months

Requirements / Eligibility

• Must operate FOSA Salary account
• Must channel salary through FOSA for at least 1 month
• Must contribute Member Protection Scheme
• Must contribute Share Capital

Qwetu Express Loan

• Interest charged 1% p.m
• Repayment period 6 – 12 Months

Qwetu Express Plus Loan

• Interest charged 1.25% p.m
• Repayment period 6 – 18 Month

Qwetu Personal Loan

• Interest charged 1.5% p.m
• Repayment period 6 – 30 Months

Qwetu Plus Loan

• Interest charged 1.7% p.m
• Repayment period 6 – 48 Months

Member Karibu Loan

• Newly employed or recruited members
• Possess latest pay slip
• Employed on permanent or fixed contract terms

Features

• Appraisal based on 1/3 rule
• repayment period 6 – 72 months
• Interest rate 12% p.a
• No BOSA shares required during appraisal
• Loan installment, shares, MPS & RRF deducted through check-off system
• Disbursed immediately if salary passes through FOSA

Qwetu Sacco BOSA Products

Back Office Service Activity (BOSA) Products

Bosa Personal Loans

Key Features

• Loan Processing Fee 2%
• Low interest rates of 1% per month (6.5%p.a)
• Interest charged on Reducing Balance basis
• Loans deducted using fully Amortization Method
• Loan repayment period 6 – 84 months (7years)
• Fully paid up minimum Share capital
• Up to date MPS contribution
• Loan multiplier up to 5 times of long term deposits/spif shares

SPIF Loan

• Interest 1% on reducing balance
• Repayment: up to 36 months
• Processed immediately
• Must have SPIF share

Qwetu Smart Loan

• Interest 1% on reducing balance
• Repayment period 12 – 36 months

School Fees Loan

• Interest: 1% on reducing balance
• Repayment Period 6 – 12 months
• Processed immediately

Emergency Loan

• Interest 1% on reducing balance
• Repayment period 6 – 12 Months
• Processed immediately

Qwetu Super Loan

• Interest 1.25% on reducing balance
• Repayment period 37 – 72 Months

Qwetu Development Loan

• Interest 1.5% on reducing balance
• Repayment period 73 – 84 Months
• Minimum loan Kshs. 500,000

Preferential Loan

• Processed & disbursed immediately
• Repayment period 6 – 84 months (7 years)
• Interest rate for loan is 1% per Month on reducing balance.
• 100% capitalization of long term deposits interest for at least three years consecutively.

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Other requirements: To increase Long-term contribution as follows

• Loan from KSHs 500,000 – KSHs 750,000. Minimum Monthly Contribution KSHs 3,500
• Loan from KSHs 750,000 – KSHs 1,000,000. Minimum Monthly Contribution KSHs 4,000
• Above KSHs 1,000,000. Minimum Monthly Contribution KSHs 5,000

Bosa Business Loans

MIcro SPIF Loan

• Interest 1.5% p.m. reducing balance
• Duration 6-48 months
• Minimum loan Kshs. 500,000
• Multiplier of *5 times

Wezesha Biashara Loan

• Interest 1% pm flat rate
• Duration 6-36 Months.
• Minimum loan Kshs. 300,000/=
• Multiplier of five* (5 times)

Micro Elimu Loan

• Loan multiplier of three (*3 )times
• Interest at 1.5% p.m.
• Repayment period 6 – 12 months.

Asset Financing

• Loan multiplier three (*3) times for the new members
• Loan multiplier five (*5)times for existing Members
• Repayment period 6 – 36 months
• Interest at 1.5% p.m.
• Co-ownership
• Asset financed becomes part of the Security of the Loan

Qwetu Biashara Loan

• Loan multiplier five (*5) times
• Loan repayment period 6 – 36 months
• Members save more than 8 weeks.
• Interest at 1.5% P.m

Kilimo Boresha Loan

• Loan multiplier five (*5) times
• Repayment period 6-36 months
• Loan appraised purely on Agri-business.
• Interest at 1.5% p.m.
• Members of the group save for at least 8 weeks
• Members co-guarantee each other.
• Maximum loan amount depends on the borrowing power of an individual.

Bosa Investment Products

Share Capitals

• Earns dividends annually
• Unit of ownership (100/= per share for a
• minimum of 150 shares)
• Voting rights (1 member, 1 vote)
• Attend & participate at members zonal meetings
• Transferable to new or existing members at a fee paid by transferee

Long Term Deposits

• Earns interest annually
• Act as loan security
• Act as BOSA check off loans multiplier
• Act as inheritance; next of kin paid *2
• Refundable after notice of 60 Calendar days and if freed from grantor ship

Micro Premiums

• Earns interest annually
• Act as loan Security
• Act as BOSA Business Loans Multiplier
• Act as inheritance; next of kin paid *2
• Refunded immediately after a notice and if freed from guarantor-ship

SPIF Shares

• Earns interest annually
• Act as loan Security
• Act as BOSA Loans Multiplier
• Act as inheritance; next of kin paid *2
• Refunded immediately after a notice and if freed from guarantor ship

Qwetu Sacco Membership Requirements

 How to Become a Member:

1. Open & operate a FOSA Account with a minimum balance Kshs.1, 000
2. Pay membership fee Kshs.500
3. Contribute minimum Share Capital Kshs.15, 000
4. Contribute Long term deposits monthly
5. Contribute Member Protection Scheme (MPS) Kshs.200 monthly
6. Contribute Risk and Retirement Fund (RRF) Kshs.200monthly
7. Patronize our products and services

QWETU SACCO MEMBERS’ WELFARE

Requirements

• Be an active member
• Honor Contributions Kshs. 400 (MPS 200/=, RRF 200/=) monthly
• Contribute for at least 6 months to start benefiting from the scheme
• Appoint nominees and keep updating changes when necessary
• For MPS claims, produce certificate of death or total incapacitation
• For RRF claims, produce retirement letter or death notification with proof of relationship to the member

Benefits

Member Protection Scheme (MPS)

• Clearance of all loan outstanding balances as at time of demise or total incapacitation
• Next of Kin gets double members BOSA deposits upon demise
• Funeral rider of Kshs.50, 000/= for deceased member to next of kin.

Risk & Retirement Fund (RRF)

• Upon retirement of a member a token of Kshs. 28,500/-
• In case of demise of a spouse a consolation of Kshs. 14,500
• In case of demise of a child a consolation of Kshs. 7,500
• In case of demise of the member the next of kin(s) is consoled with Kshs. 56,500

Micro Credit Services

Qwetu Micro Credit Services

Qwetu Micro Elimu Loan

Loan multiplier ar 5 times. Interest at 1.5% p.m (18%p.a). Maximum repayment period 12 months.

Boda Boda Loans

Loan multiplier 3 times for the new member Loan multiplier 5 timesfor existing members. Maximum repayment period of 12 months. Interest at 1.5% P.m i.e 18%p.a. Bodaboda/Asset becomes part of the security of that loan.

Loan multiplier 3 times for the new member Loan multiplier 5 timesfor existing members. Maximum repayment period of 12 months. Interest at 1.5% P.m i.e 18%p.a. Bodaboda/Asset becomes part of the security of that loan.

Biashara Loan Group

Loan mutiplier five times. Minimum repayment period 6 months. Loan appraised purely on business. Members of the group save more than 8 weeks. No Grace period. Maximum loan amount depends on the borrowing power of an

Kilimo Biashara

Loan multiplier five times. Minimum repayment period 6 months. Loan appraised purely on Agriculture. Members of the group save more than 8 weeks. Grace period of 2 months. Maximum loan amount depends on the borrowing

Group Formation

Must have at least 7 members Group must have a constitution. Group must be registered with the Ministry of Social Services and given a certificate. Group must open a group account with sacco. Individual members must acquire

Special Investment Fund

Registered and contributes SPIF shares: Processing: Loan deposited within 1 month. Interest: 1% on reducing. Multiplies: 5 times your SPIF shares. Repayment: Maximum 36 months.

Qwetu Smart Loan

Processing: Once every month. Interest rate: 1% on reducing. Repayment: 36 months. Multiplies: 5 times long term deposits.

School Fees

Processing: Immediately. Interest: 1% on reducing. Repayment: 12 months. Multiplies: 5 times long term deposits.

Emergency Loan

Processing: Immediately. Interest: 1% on reducing rate. Repayment: Maximum 12 months. Amount: KSHs 20,000. Shares multiplies: 5 x long-term deposits.