Below are products offered by Tembo Sacco,loans,savings products,paybill and contacts:
How to join Tembo Sacco and membership requirements
Individual Membership
Tembo SACCO provides for open membership for anyone who meet the following Requirements:
- Must be a person of 18 years and above, either employed or self-employed carrying out a legal activity in Kenya.
- Must duly complete the membership application form and the nominee Form.
- Must have a copy of the national ID
- Must have a copy of KRA Pin
- Must provide one-(1) passport size photographs.
- Must pay a non-refundable registration fee of Kshs.1000.
- Must Pay a FOSA account Min Fee of Kshs.1000.
Tembo Sacco BOSA Products
Share Capital
It represents member’s ownership of the SACCO, It is non withdrawable, but transferrable to another member of the Sacco.
The minimum share capital per member is Ksh.20, 000. (1000 shares of ksh.20 each). This means the first Kshs.20, 000 contributed by the member is transferred automatically to the shares.
Since 2018, the share capital has consistently yielded a 20% dividend payout.
Sacco Deposits Contribution
Deposits represents money that a member can be refunded back upon placing prior notice when they decide to leave the SACCO.
The minimum monthly contribution is Ksh.1000. Deposits act as multiplier when a member is applying for a loan and can be used to guarantee other members loans.
Deposits attract annual interest, and Tembo has consistently paid up to 11.5% prorated interest over the years.
BOSA Special Savings
BOSA Special Savings is a product that targets long term plans such as holiday, construction, school fees, weddings and special projects. Its minimum monthly contribution is Ksh.500. Currently it earns 10% interest payable semiannually i.e. July and January.
BOSA Special withdrawal can be done once every quarter in a financial year.
Benevolent Fund
Benevolent Fund is an insurance policy for members that covers the member and immediate family members against death. One must be a member with the mandatory Share Capital ksh. 20,000/=
REQUIREMENTS
- Fill in the benevolent application form
- Registration fee – Ksh.300 (One off)
- Annual Premium – Ksh.2500.
- The premium will be deducted from the member’s savings and the member should ensure that the same is replaced in the course of the year.
- The cover will pay the following in case of death.
- Self – Ksh.70,000
- Spouse – Ksh.50,000 ( one spouse)
- Parent – Ksh.40,000 (Upto 4 parents, own parents and parents in law)
- Children – Ksh.40,000 (Upto 4 Children) You can cover more at an extra cost of Ksh.120 per child.
- The cover has a three months (90 days) waiting period from inception on natural deaths, and non for accidental deaths
- Principal Member and Spouse minimum entry age is 18 years and Maximum age at entry is 75 years. Maximum coverage age is 80 Years.
- Parents/Parents in Law maximum age entry is 75 Years and Maximum coverage is age 80.
- Definition of a child: A child born to the members of the society who is unmarried and under the age of 25 Years. Insurable age is from 6 months to 25 years’ subject to the child being still unmarried and in the custody of the parents/members.
NB: A members who exits the Sacco ceases to be a benevolent member.
Tembo Sacco Loans
Long Term Loans
Jumbo Plus
- One can qualify up to 5 times their Sacco savings.
- Repayment period up to 96 months.
- Interest Rate 1.25% per month on a reducing balance.
- Minimum of three guarantors who must fully cover the loan amount.
- The loan is insured against death or total disability under loan guard policy.
Jumbo Loan
- One can qualify up to 5 times their Sacco savings.
- Repayment period up to 72 months.
- Interest Rate 1.25% per month on a reducing balance.
- Minimum of three guarantors who must fully cover the loan amount.
- The loan is insured against death or total disability under loan guard policy.
Normal Loan
- One can qualify up to 4 times their shares/deposits.
- Repayment period- up to 72 months.
- One must have been a member for 6 months with consistent monthly contributions.
- Interest rate 1 % p.m on a reducing balance.
- All loans must be fully secured by either guarantors or collateral security.
Tembo Special
Tembo Special is a credit facility meant to facilitate members to construct (or buy) rental properties.
-To qualify for this loan, one must have been a member of Tembo Sacco (for a minimum of 1year) of good standing with a proven credit history in Tembo or elsewhere by providing statement of previous loans taken and promptly paid.
ATTRIBUTES OF TEMBO SPECIAL.
1.Minimum amount one can apply for is Ksh.15 Million
- Interest rate 12% p.a or 1% per month on a reducing balance.
- Repayment period is 180 Months (Fifteen Years)
4 Grace period, during which the member will be required to service the interest component. However, Grace period remains optional.
5.The amount approved will be processed and disbursed into Tujenge savings Account from where the funds will be released in bits as the construction progresses. The society will carry out site visits to inspect progress.
8.Facility arrangement fee of 0.25% of the loan approved (one off) is applicable.
- Progress Inspection fee of 0.25% of the loan approved (one off) is applicable. NB: This will only apply for projects within Nairobi and its environs. Higher fee will be charged for projects outside Nairobi.
10.The loan must be fully secured by a collateral security.
11.You will also be required to provide us with projected cash flows from expected rent.
- Once completed, all the rent must be channeled through Tembo Sacco until the loan is fully paid. NB: The Sacco shall only utilize the amount necessary to service the loan and the balance will be available to the owner of the property.
13.The board reserves the right to reject a loan application without giving any reasons.
14.The loan is insured against death or permanent disability.
15.The member should have obtained all the necessary approvals by the necessary bodies, before the loan is approved.
- The member should also provide BQs (Bill of Quantities) .
Boma Loan
BOMA LOAN
This is a mortgage product tailored for members willing to buy or build their residential homes.
- One can qualify up to 5 times their Sacco savings.
- Repayment period up to 180 months i.e 15 years.
- Interest Rate 1% per month on a reducing balance.
- Collateral security for the loan – The house being purchased or another Property (70% of the property value)
- Proof of income subject to the 1/3 Rule.
- The loan is insured against death or total disability under loan guard policy.
- Maximum Amount Ksh.15,000,000 (Fifteen Million Only), Minimum amount Ksh.2,000,000 ( Two Million Only)
- All other costs associated with the facility to be borne by the member. E.g Legal fees, Valuation fees etc.
Medium term Loans
Jisort Loan
- One can qualify for upto Ksh. 1,000,000
- Repayment period – up to 48 months
- Interest rate 3% Per month (reducing balance)
- Minimum of 3 guarantors who should be members of the Sacco and must cover the whole loan.
- Loan request are processed same day.
Jijenge Loan
- One can qualify up to Ksh 3,000,000
- Repayment period up to 60 months
- Interest rate 1.5% per month on a reducing balance
- Minimum of 3 guarantors who should be members of the Sacco and must cover the whole loan.
- Loan requests are processed same day
Short term Loans
Jienjoy Loan
- Maximum that one can qualify for at any one time is Ksh 100,000
- Interest rate 12% per month on a reducing balance
- Repayment period up to 1 month.
- Self-guarantor ship is allowed
- Loan requests are processed same day
Emergency Loan
- Maximum that one can qualify for at any one time is Ksh 300,000.
- Interest rate 1% per month on a reducing balance.
- Repayment period up to 24 months.
- Minimum of 3 guarantors who should be members of the Sacco and must cover the whole loan.
- Loan requests are processed same day.
- No top ups allowed.
Express Loan
- Maximum that one can qualify for at any one time is Ksh 200,000
- Interest rate 5% per month on a reducing balance
- Repayment period up to 36 months
- Minimum of 3 guarantors who should be members of the Sacco and must cover the whole loan.
- Loan requests are processed same day
M-Tembo Loan
- This loan is instant and is applied using the mobile platform
- One must be registered on the M-Tembo platform.
- Maximum amount Ksh 50,000
- Interest rate 6% p.m
- Repayment 1 month
Maramoja Loan
- Maximum that one can qualify for at any one time is Ksh 100,000.
- Interest rate 2.5% per month on a reducing balance.
- Repayment period up to 12 months.
- Loan requests are processed same day.
- No guarantors required.
Credit Products
Jumbo Plus
- One can qualify up to 5 times their Sacco savings.
- Repayment period up to 96 months.
- Interest Rate 1.25% per month on a reducing balance.
- Minimum of three guarantors who must fully cover the loan amount.
- The loan is insured against death or total disability under loan guard policy.
Jumbo Loan
- One can qualify up to 5 times their Sacco savings.
- Repayment period up to 72 months.
- Interest Rate 1.25% per month on a reducing balance.
- Minimum of three guarantors who must fully cover the loan amount.
- The loan is insured against death or total disability under loan guard policy.
Normal Loan
- One can qualify up to 4 times their shares/deposits.
- Repayment period- up to 72 months.
- One must have been a member for 6 months with consistent monthly contributions.
- Interest rate 1 % p.m on a reducing balance.
- All loans must be fully secured by either guarantors or collateral security.
Tembo Special
Tembo Special is a credit facility meant to facilitate members to construct (or buy) rental properties.
-To qualify for this loan, one must have been a member of Tembo Sacco (for a minimum of 1year) of good standing with a proven credit history in Tembo or elsewhere by providing statement of previous loans taken and promptly paid.
ATTRIBUTES OF TEMBO SPECIAL.
1.Minimum amount one can apply for is Ksh.15 Million
- Interest rate 12% p.a or 1% per month on a reducing balance.
- Repayment period is 180 Months (Fifteen Years)
4 Grace period, during which the member will be required to service the interest component. However, Grace period remains optional.
5.The amount approved will be processed and disbursed into Tujenge savings Account from where the funds will be released in bits as the construction progresses. The society will carry out site visits to inspect progress.
8.Facility arrangement fee of 0.25% of the loan approved (one off) is applicable.
- Progress Inspection fee of 0.25% of the loan approved (one off) is applicable. NB: This will only apply for projects within Nairobi and its environs. Higher fee will be charged for projects outside Nairobi.
10.The loan must be fully secured by a collateral security.
11.You will also be required to provide us with projected cash flows from expected rent.
- Once completed, all the rent must be channeled through Tembo Sacco until the loan is fully paid. NB: The Sacco shall only utilize the amount necessary to service the loan and the balance will be available to the owner of the property.
13.The board reserves the right to reject a loan application without giving any reasons.
14.The loan is insured against death or permanent disability.
15.The member should have obtained all the necessary approvals by the necessary bodies, before the loan is approved.
- The member should also provide BQs (Bill of Quantities) .
Boma Loan
BOMA LOAN
This is a mortgage product tailored for members willing to buy or build their residential homes.
- One can qualify up to 5 times their Sacco savings.
- Repayment period up to 180 months i.e 15 years.
- Interest Rate 1% per month on a reducing balance.
- Collateral security for the loan – The house being purchased or another Property (70% of the property value)
- Proof of income subject to the 1/3 Rule.
- The loan is insured against death or total disability under loan guard policy.
- Maximum Amount Ksh.15,000,000 (Fifteen Million Only), Minimum amount Ksh.2,000,000 ( Two Million Only)
- All other costs associated with the facility to be borne by the member. E.g Legal fees, Valuation fees etc.
Jisort Loan
- One can qualify for upto Ksh. 1,000,000
- Repayment period – up to 48 months
- Interest rate 3% Per month (reducing balance)
- Minimum of 3 guarantors who should be members of the Sacco and must cover the whole loan.
- Loan request are processed same day.
Jijenge Loan
- One can qualify up to Ksh 3,000,000
- Repayment period up to 60 months
- Interest rate 1.5% per month on a reducing balance
- Minimum of 3 guarantors who should be members of the Sacco and must cover the whole loan.
- Loan requests are processed same day
Jienjoy Loan
- Maximum that one can qualify for at any one time is Ksh 100,000
- Interest rate 12% per month on a reducing balance
- Repayment period up to 1 month.
- Self-guarantor ship is allowed
- Loan requests are processed same day
Emergency Loan
- Maximum that one can qualify for at any one time is Ksh 300,000.
- Interest rate 1% per month on a reducing balance.
- Repayment period up to 24 months.
- Minimum of 3 guarantors who should be members of the Sacco and must cover the whole loan.
- Loan requests are processed same day.
- No top ups allowed.
Express Loan
- Maximum that one can qualify for at any one time is Ksh 200,000
- Interest rate 5% per month on a reducing balance
- Repayment period up to 36 months
- Minimum of 3 guarantors who should be members of the Sacco and must cover the whole loan.
- Loan requests are processed same day
M-Tembo Loan
- This loan is instant and is applied using the mobile platform
- One must be registered on the M-Tembo platform.
- Maximum amount Ksh 50,000
- Interest rate 6% p.m
- Repayment 1 month
Maramoja Loan
- Maximum that one can qualify for at any one time is Ksh 100,000.
- Interest rate 2.5% per month on a reducing balance.
- Repayment period up to 12 months.
- Loan requests are processed same day.
- No guarantors required.
Tembo Sacco Contacts
Get to our office
Garden Estate Rd, Nairobi Kenya
Tembo Sacco Plaza
Working Hours
From 8:30am to 4:00pm
Call Us
+254 722 99 24 69
+254 020 26 03 334
info@tembosacco.co.ke
Paybill services
You can now make your deposits and other payments through our M-pesa pay bill services. TEMBO SACCO PAYBILL ACCOUNT 593643.
| Paybill No/ Business No: 593643 | |
| Sacco Savings (BOSA Account) | |
| Sacco Deposits | T101MembershipNo |
| Bosa Special | T103MembershipNo |
| FOSA Account | |
| FOSA | T502MembershipNo |
| Hekima | T503MembershipNo |
| Salary | T504MembershipNo |
| Entrace Fee | T200MembershipNo |
| Loans | |
| Jumbo | T301MembershipNo |
| Normal | T302MembershipNo |
| Jijenge | T303MembershipNo |
| Emergency | T304MembershipNo |
| Jisort | T305MembershipNo |
| Express | T306MembershipNo |
| Jienjoy | T307MembershipNo |
| maramoja | T308MembershipNo |
| Hisa | T309MembershipNo |
| M-Tembo | T310MembershipNo |
| Tembo Ventures | |
| AccountNo | T50287394 |
| Bank Details | |
| AccountNo | 01120000601400 |
| Ac Name | Tembo sacco Ltd |
| Bank Details | Cooperative Bank-TRM |
| Branch | TRM |
| Branch Code | KC00KENA |
