Kona Sacco was formally Safaricom Sacco. It offers loans to members. Below we provide details about the loans offered, how to apply for the loans and interest charged.

Kona Advance

Advance is the loan you apply for before you are officially paid. Below are the terms for the loan:

Key Features of Kona Advance

• Maximum Loan Limit: Borrow up to KES 200,000, making it ideal for urgent financial needs.
• Eligibility: Members must have attained a minimum share capital of KES 40,000 to qualify for the loan.
• Flexible Repayment Terms:
  • The loan is payable within 3 months, offering manageable repayment timelines.
  • Repayment can be made anytime before the 3-month tenure, giving borrowers added flexibility.
• No Guarantors Required: Experience stress-free borrowing without the need for guarantors.
• Interest Rates:
  • Issued at 3% per month for the first 2 months, ensuring competitive rates.
  • Interest is recovered upfront for the first month, simplifying the loan process.
  • If rolled over into the third month, an interest rate of 5% will be applied.
• Loan Amount Based on Deposits: Borrow up to 5 times your deposits, giving members greater leverage for higher loan amounts.

One advantage of this loan is that it’s approved within the shortest time. Interest is also low.If you get a loan of Ksh200,000,the interest will be less than Ksh30,000. If you take a loan of Ksh200,000 from a microfinance, interest will be more than Ksh40,000.

How to Apply for Kona Advance Take advantage of this quick and reliable solution for emergencies by applying today. Simply:

1. Download the QonaPay App, or
2. Dial *USSD 345#, then select Option 5 Loan.

Rununu Advance

Qualifying Criteria

To access the Rununu Advance facility:

• Sacco Salary Processing Requirement: Only members whose salaries are processed through the Sacco qualify for this advance. This ensures seamless application and repayment processes.

Why Choose Rununu Advance? With its ultra-fast disbursement and streamlined application process, Rununu Advance stands out as the go-to solution for handling emergencies. Whether you need money for urgent repairs, medical expenses, or other pressing needs, this facility delivers quick relief exactly when you need it.

Apply Now and Get Instant Support! Take advantage of Rununu Advance today and enjoy the convenience of fast financial assistance right at your fingertips. Download the QonaPay App or dial *USSD 345# to apply within minutes.

Pamoja Loan

Key Features of the Pamoja Loan

• Interest Rate: Enjoy an affordable rate of 8% per month on a reducing balance, ensuring manageable repayment costs.
• Maximum Loan Amount: Borrow up to KES 1 million, providing adequate financing to consolidate your short-term loans effectively.
• Repayment Period: Benefit from a flexible repayment term of 12 months, enabling you to plan your finances comfortably.

Qualifying Criteria

• Savings Requirement: Members must have saved consistently for at least 3 months to qualify for the loan. This ensures financial reliability and readiness.
• Open to All Members: The Pamoja Loan is accessible to all members, making it an inclusive solution for your financial needs.

Business Loan

Key Features

• Generous Loan Multiplier: Access loans up to 5 times the value of your savings.
• Savings as Collateral: Your savings are securely locked to guarantee the loan.
• Flexible Repayment: Enjoy a repayment period of up to 24 months.
• Competitive Interest Rates: Benefit from an affordable 1.5% monthly interest on a reducing balance.
• Diverse Collateral Options: Title deeds, log books, and other acceptable collateral are supported.
• Eligibility: Available to individuals, Chamas, and corporates holding FOSA accounts.
• Proof of Repayment Capability: Ensure you have evidence of repayment ability to qualify.
• Administration Fees: Applicable when collateral is used for loan security.
• Comprehensive Financing Options: Designed for LPOs, bid bonds, and business ventures.
• Loan Limits: Access amounts ranging from KES 50,000 to KES 3 million.
• Quick Disbursement: Funds disbursed within an hour of application.

Insurance Premium financing

Key Features of the Insurance Loan

• Generous Loan Amount: Access funding of up to 3 times your deposits, ensuring you have enough to cover your insurance needs.
• Flexible Repayment Terms: Repay the loan within 6 months, allowing you to budget effectively and manage your payments comfortably.
• Affordable Interest Rate: Benefit from a competitive interest rate of 1% per month on a reducing balance, making it a cost-effective solution.
• Free Car Valuation: Enjoy the added benefit of free car valuation, simplifying the process for members applying for car insurance financing.
• Quick Disbursement: Receive your funds within one hour of application approval, providing instant support for your insurance premiums.
• Terms and Conditions Apply: Rest assured, the facility follows straightforward terms for transparency and convenience.

Asset Finance Loan

Key Features of the Asset Finance Loan

• Generous Loan Amounts: Secure financing of up to 3 times your deposits, ensuring substantial support for your car purchase.
• Flexible Repayment Period: Repay the loan over an extended term of 48 months, giving you the time to manage your finances with ease.
• Affordable Interest Rates: Benefit from a competitive interest rate of 1% per month on a reducing balance, making this loan cost-effective for members.
• Security Requirements: The original logbook serves as security for the loan, ensuring a straightforward process.
• Financing Options:
  • New Vehicles: Sacco finances up to 90% of the vehicle’s value.
  • Used Vehicles: Financing is available for up to 80% of the vehicle’s value, giving you flexibility in your choice.
• Loan Amount Range: Access financing from KES 300,000 up to a maximum of KES 7 million, covering a wide range of vehicle options.
• Vehicle Age Limit: Eligible vehicles must not exceed 9 years from the manufacturing date.
• Required Documentation: Applicants must attach a valuation report, transfer forms, or import documents during the application process.
• Disbursement Timeline: Funds are disbursed within one month, ensuring timely access to your dream car.
• Insurance Coverage: Comprehensive insurance is mandatory and must be obtained through the Sacco’s appointed insurance agents.
• Importation Documents: For imported vehicles, import documents are required to ensure compliance with guidelines.
• Savings Requirement: Applicants must have saved consistently for at least 6 months (BOSA) to qualify.
• KRA PIN Requirement: Both the buyer and seller must provide their KRA PIN unless the car is imported through AA Japan or Maridady Motors.
• Additional Costs: Members will bear costs related to the logbook and car tracking charges, ensuring the vehicle’s security.
• Transfer Forms: Duly signed transfer forms must be submitted, with charges applied based on prescribed KRA rates.

Smart Home Loan

This loan is important for people who want to upgrade their home. You can take the loan to buy new furniture, refurbish your home or do some repairs.

Features of the Smart Home Loan

• Generous Loan Amount: Access financing of up to 3 times your deposits, empowering you to make significant upgrades to your home.
• Convenient Repayment Terms: Repay the loan over a manageable period of 12 months, allowing you to plan your finances effectively.
• Affordable Interest Rate: Benefit from a competitive interest rate of 1% per month on a reducing balance, ensuring cost-effectiveness throughout the loan term.
• Guarantor Requirements: Guarantors are required only if the member’s savings are less than the loan applied, simplifying the process for eligible borrowers.
• Maximum Loan Limit: Secure funding of up to KES 1 million, providing ample resources for your home improvement projects.
• Refinancing & Loan Top-Up Options: Need additional funds? The facility includes refinancing or loan top-up options, offering flexibility to meet your ongoing needs.
• Self-Guarantee Flexibility: Members can self-guarantee up to the total number of deposits saved, making the loan accessible and convenient.
• Quick Disbursement: Receive funds within one hour of application, allowing you to begin your upgrades immediately.
• Quotation Requirement: Members must present a Quotation or Proforma Invoice (instead of an invoice) from appointed distributors to access the loan.
• Terms and Conditions Apply: Enjoy a streamlined process while adhering to essential guidelines.

FOSA Silver Advance

Features of FOSA Silver Advance

• Repayment Flexibility: Repay the loan over 6 months, offering manageable timelines that suit your financial planning.
• Competitive Interest Rates: Enjoy an interest rate of 5% per month on a reducing balance, ensuring cost-effectiveness and affordability.
• Generous Loan Limit: Access funding up to 4 times your net salary, giving you the flexibility to address your pressing financial needs.
• Simplified Payment: Loan repayments are conveniently processed through FOSA salary accounts, making it hassle-free for salary account holders.
• No Collateral Required: Secured against your salary, this facility eliminates the need for collateral, ensuring quick access to funds.
• Terms and Conditions Apply: While easy to access, the facility ensures compliance with necessary guidelines to maintain transparency and security.
• Rapid Disbursement: Receive your loan within an hour of application, providing you with the speed needed for urgent situations.

Fanikisha Loan

Key Features of the Fanikisha Loan Facility

• Generous Loan Limits: Secure financing of up to 5 times your deposits, with amounts available up to a substantial KES 30 million. This ensures you have the resources to turn your vision into reality.
• Extended Repayment Periods: Benefit from repayment terms spanning up to 96 months, providing you with the flexibility needed to manage your finances effectively.
• Affordable Interest Rates: Enjoy a competitive 1% monthly interest on a reducing balance, making this an ideal solution for your development goals.
• Guarantors and Collateral: Loan security is made easier with trusted guarantors or acceptable collateral, including title deeds and log books.
• Refinancing Options: Need additional funding? Access refinancing or loan top-up facilities with a consolidation fee of only 0.5%, ensuring convenience and flexibility.
• Fast Disbursement: Receive your loan within just five days of application approval, helping you stay on track with your projects.
• Collateral Requirements for Large Loans: For loans exceeding KSh 10 million, collateral is required to secure the facility.
• Flexible Self-Guarantee Terms: Enjoy the option of self-guarantee agreements, with adaptable conditions tailored to your needs.

Development Loan

Why Choose Our Development Loan?

• Flexible Loan Amounts: Gain access to financing of up to 4 times your deposits, with a maximum loan limit of KES 30 million. This ensures you have the resources to bring your vision to life.
• Extended Repayment Period: Manage your finances with ease through repayment terms of up to 84 months, giving you the flexibility to plan effectively for the future.
• Affordable Interest Rates: Enjoy a competitive 1% monthly interest on a reducing balance, designed to keep costs manageable while supporting your growth.
• Secure and Reliable Collateral Options: For loans exceeding KSh 10 million, acceptable collateral such as title deeds or log books ensures reliable security for your financing.
• Guarantor Support: Trusted guarantors make it simple to secure your loan, ensuring a smooth application process.
• Refinancing Opportunities: Need additional funding? Explore refinancing or loan top-up options with a consolidation fee of just 5%, keeping flexibility at the forefront of your financial journey.
• Quick Disbursement: Once your application is approved, you’ll receive funds within 5 days, allowing you to execute your projects in a timely manner.
• Self-Guarantee Terms: Flexible conditions for self-guaranteed loans provide additional options to suit your unique circumstances.

Premium Loan

Features of the Premium Loan Product

• Generous Loan Amounts: Access financing of up to 5 times your deposits, empowering you to meet your project requirements effortlessly.
• Flexible Repayment Terms: Enjoy repayment periods of up to 60 months, ensuring manageable and stress-free financial planning.
• Affordable Interest Rates: Take advantage of a competitive interest rate of 1% per month on a reducing balance, making this loan cost-effective for long-term borrowing.
• Loan Security Options: Secure your loan through trusted guarantors and acceptable collaterals, including title deeds and log books.
• Maximum Loan Limit: Borrow up to KES 10 million, providing substantial support for large-scale projects.
• Refinancing & Top-Up Facility: Need more funds? The Premium Loan offers refinancing or loan top-ups, subject to a consolidation fee, giving you added flexibility.
• Fast Disbursement: Receive your loan within 5 days of approval, enabling you to execute projects without unnecessary delays.
• Self-Guarantee Terms: Enjoy flexible conditions for self-guarantee agreements, tailored to suit your needs.

Emergency Loan

Features of the Emergency Loan Facility

• Loan Amount: Access funding up to 3 times your deposits, providing substantial relief for urgent needs.
• Flexible Repayment Period: Enjoy repayment terms spanning 12 months, giving you the time to manage your finances effectively.
• Affordable Interest Rate: Benefit from a competitive interest rate of 1% per month on a reducing balance, ensuring affordability.
• Maximum Loan Limit: Borrow up to KES 1 million, offering a robust solution for emergency expenses.
• Self-Guarantee Terms: Self-guarantee agreements are subject to 1/3rd of the loan applied, providing flexibility for members.
• No Documentation Required: No supporting documents are necessary, simplifying the application process for emergencies.
• Quick Disbursement: Receive your funds within one hour of application approval, helping you address urgent needs without delay.
• Terms and Conditions Apply: Enjoy a streamlined process while ensuring compliance with necessary guidelines.

FOSA Silver Advance

Features of FOSA Silver Advance

• Repayment Flexibility: Repay the loan over 6 months, offering manageable timelines that suit your financial planning.
• Competitive Interest Rates: Enjoy an interest rate of 5% per month on a reducing balance, ensuring cost-effectiveness and affordability.
• Generous Loan Limit: Access funding up to 4 times your net salary, giving you the flexibility to address your pressing financial needs.
• Simplified Payment: Loan repayments are conveniently processed through FOSA salary accounts, making it hassle-free for salary account holders.
• No Collateral Required: Secured against your salary, this facility eliminates the need for collateral, ensuring quick access to funds.
• Terms and Conditions Apply: While easy to access, the facility ensures compliance with necessary guidelines to maintain transparency and security.
• Rapid Disbursement: Receive your loan within an hour of application, providing you with the speed needed for urgent situations.