Below are important details about Strategic Sacco Kenya:
Strategic Sacco Paybill Number and how to deposit money via Mpesa to the Sacco
M-PESA pay bill number 813368.
You can now pay your remittances to the SACCO through M-PESA pay bill number 813368. Below are the guidelines on how to can submit your remittances through the MPESA Menu.
- Go To M-PESA on your Phone Menu
- Choose the Lipa na M-PESA option
- Choose the Pay Bill Option
- Enter the Business Number – 813368
- Enter the Account Number (This is your Member Number) eg MN0001
- Enter the Amount (Up to Kes. 150,000)
- Enter your M-PESA PIN
- Confirm details and press OK
Strategic Sacco Savings Products
SACCO JUNIOR ACCOUNT
It is a savings account designed to provide a savings facility for parents to save for their children who have not reached the majority age. The account helps parents to plan for their children’s education through savings accumulation for a long period of time.
- The account operates in the following manner:
- The member opens an account for children; the account will be in the name of the child/children but operated by the member.
- The minimum monthly saving is Ksh.200, mainly through check-off but any other mode is also acceptable, e.g. lump sum, direct deposit to the SACCO account or through pay bill.
- Withdrawal from the account is done once every year
- Withdrawal before the year is over may be permitted at a charge of Kshs.500 per withdrawal
- Minimum interest earning balance is Kshs.3000
- The account attracts no monthly charges.
- Children will receive birthday wishes every year.
HOLIDAY SAVINGS
Plan for your stress free holidays by saving through our holiday savings account. It enables a member to save stress free as deductions are done through payroll although, cash deposits are also acceptable.
Features
- Allows you to save for a minimum of six months
- You can withdraw all your savings and start a fresh thereafter
- Application fee is only kshs. 200/=
- Statements every quarter.
- Minimum monthly deposit of kshs. 200/=
Eligibility
- One has to register as a Sacco member
- An interested member fills a holiday savings application form
- Only copy of ID required.
MEMBER DEPOSITS
Member Deposits is a solution that enables our members to save securely and also earn dividends on their savings at a rate. Member Deposits also enables our members access our affordable credit products by using their savings as part of the guarantee.
Member deposits enables a member to qualify for loans 3 times their savings.The accrued member deposits are withdrawable upon resignation as a sacco member.
Eligibility
- Register as a Sacco Member by filling a membership application form.
- Minimum monthly contribution of Kes. 1500
BENEVOLENT FUND
BENEVOLENT FUND
This is a product that a Sacco offers to its members to cater for them when a misfortune occurs. Every member must be assured of dignified sendoff upon death, likewise a member’s family from spouse, children and the members parents also benefit from this scheme.
Eligibility
- Membership to the scheme shall be for Sacco members only.
- Monthly contribution is Ksh 200.
- A well filled Benevolent Fund form listing all dependents with their correct Dates of Birth.
Terms & Conditions
- A member qualifies to benefit from the scheme after contributing for 3 months consecutively.
- Programme covers children up to the age of 18 years. For those who depend on their parents up to the age of 25 years, prove of dependency will be required.
- Dependents allowed to benefit from this scheme are Spouse, Biological and Legally adopted children and Biological parents.
In case of Misfortune;
A member or the company to give notice of death to the Sacco officer.
Provide a burial permit.
Copy of ID of the insured.
Strategic Sacco Loans
DEVELOPMENT LOAN
This is a loan that a member can acquire to purchase land, construct a home or for home improvement and any other personal development that a member has.
Terms
Multiplier is 3 times a member’s savings
Savings up to six months
Maximum repayment period of 36 months
Low interest rate of 1% per month on reducing balance
Loan processing fee of Ksh 500
Requirements
Three current pay slips
Copy of ID
Minimum of 5 guarantors and their ID copies
BUSINESS LOAN
This is a product well designed for members looking for fund to start or boost a business to enable them help a business grow and sustain their business operations.
Terms
Multiplier is 3 times member’s savings
Savings up to six months
Flexible repayment period of up to 48 months
Low interest rate of 2% per month on reducing balance
Requirements
Three current pay slips
Copy of ID
Minimum of 5 guarantors and their ID Copies
EMERGENCY LOAN
This is a loan type that enables members to pay for emergencies such as hospital bills, arson, title deeds processing, court fines and any other financial constraints.
Terms
Multiplier is 3 times member’s savings
Savings up to six months
Maximum repayment period is 12 months
Low interest rate of 1.25% per month on reducing balance
Loan processing fee of Ksh 300
Payment is done within 24 hours
Requirements
Three current pay slips
Copy of ID
Minimum of 5 guarantors and their ID Copies
Supporting document to prove the Emergency (where necessary)
ASSET FINANCE
This is a facility that will provide a member with a convenient solution to purchase a vehicle, equipment’s and any other assets for business.
Terms
Multiplier rule applies
Up to 50% financing
Maximum repayment period of up to 36 months
Low interest rate
Requirements
A formal loan application form duly signed by the customer
Copy of ID
Three months latest pay slips
Copy of logbook
Copy of proforma invoice/sale agreement for used vehicles and any other required document
SCHOOL FEES LOAN / EDUCATION LOAN
This is a product well-tailored to finance various education needs of the members or the member’s children those studying in both basics, Tertiary institutions and higher learning institutions.
Terms
Multiplier is 3 times member’s savings
Savings up to six months
Maximum repayment period is 12 months
Low interest rate of 1.25% per month on reducing balance
Loan processing fee of Ksh 300
Requirements
Three current pay slips
Copy of ID
Minimum of 5 guarantors and their ID Copies
A member should attach relevant supporting documents i.e. school fee structure or admission letter.
REFINANCING LOAN
This is a Top-Up facility for members on development loans
A 5% charge on outstanding loan balance
To facilitate Top up member must have paid the current up to at least 2/3 of the principal
A member should have cleared all outstanding Sacco loans except the development loan to be refinanced.
EXPRESS LOAN
This product is tailored to bridge a member’s small liability which falls due when he/she cannot be able to settle them and also for members who have not saved for more than six months but can qualify for a loan.
Terms
Maximum loan amount of Ksh 20,000
Minimum saving of one month
Maximum repayment period is 5 months
Low interest rate of 5% on reducing balance per month
Loan processing fee of Ksh 100
Requirements
Three current pay slips
Copy of ID
Minimum of 3 guarantors and their ID Copies
GOLDEN LOAN
A product which is meant for the members who have good savings but have not attained the six months period but are in need of a credit facility to cater for small expenses.
Terms
Maximum loan amount of up to a member’s savings
Savings up to 3 months
Maximum repayment period is 10 months
Low interest rate of 4% on reducing balance per month
Loan processing fee of Ksh 300
Requirements
Three current pay slips
Copy of ID
Minimum of 3 guarantors and their ID Copies
INSTANT LOAN
This product is tailored to meet a member’s liability which comes
Due before the end of the month when salaries have not been received.
Terms
Maximum loan amount of Ksh 10,000
Maximum repayment period of up to 3 months
Interest rate of 10% on reducing balance
Loan processing fee of Ksh 100
Requirements
Three current pay slips
Copy of ID
Minimum of 3 guarantors and their ID Copies
PRODUCT LOAN
With this type of loan, a member is not given cash but a product that he/she would want the Sacco assist them acquire.
Terms
Loan is multiplied 3 times your deposits less any outstanding loan balance
No processing fee is required
Low interest rate of 2% per month on reducing balance of the product value
Maximum repayment period of 6 months
Requirements
Three current pay slips
Copy of ID
Minimum of 5 guarantors and their ID Copies
- Who owns Strategic Deposit Taking Sacco Ltd?
The owners of Strategic Deposit Taking Sacco Ltd are members of the sacco
- Who is eligible to join the Sacco?
Membership is open to all persons from different segments of the market not less than 18 years of age.
- What are deposits/member savings?
These are savings made to the Sacco on a monthly basis.
Deposits are withdrawable upon resignation or death of a member.
The minimum contribution per month for every member is ksh1500.
- What is share capital?
It’s the money invested in the Sacco by members that is a long-term source of finance. Members earn dividends on share capital yearly.
The minimum shareholding by a member is Ksh 10000
- When does a member become eligible for a loan?
A member can qualify for;
Spot cash after 1 month
Instant, Express and Golden loans after 3months
Any other loans after consecutively saving for 6months.
- What are the acceptable securities for a loan?
Deposits/member savings
Guarantors
Acceptable Collateral
- Can I boost my savings and apply or a loan immediately?
Yes, you can but a member will wait for a period of 2 months before using the same deposits as collateral for loan.
- Can I continue contributing after leaving the company I am working for?
Yes. You can continue contributing to the Sacco by making deposits through Paybill no, direct deposits to our Cooperative account or by placing a standing order.
- After resigning from the Sacco, for how long do I wait for refund of savings?
60 Days
- Can I rejoin the Sacco if I had earlier resigned?
Yes. You can reapply to become a member again and continue with contributions.
Strategic Sacco contacts
General Inquiries
For general enquiries, send mail to:
info@strategicdtsacco.com
Customer Care
For customer care services, send mail to:
info@strategicdtsacco.com
Postal Address
Strategic Urembo Sacco Society Limited
P.O. Box 78506-00507 Nairobi
info@strategicdtsacco.com
