BANKING

Egerton University Sacco Membership requirements, savings products, loans and contacts

April 26, 2025

Below is a list of loans offered by Egerton Sacco,savings products,loans and contacts:

List of Loans

NORMAL LOAN

Long term Loan for Development.
Deposit multiplied by 3.
Maximum period 48 Months.
Atleast 5 Guarantors
Deduction must be within 1/3 rd rule.
Rate 1 % per Month.(12% P.A) Reducing.

FAHARI LOAN

Long term Loan for Members saved over One Million Deposits.
Deposit multiplied by 4.
Maximum period 60 Months.
Atleast 7 Guarantors
Deduction through Salary.
Rate 1 % per Month.(12% P.A) Reducing.

DEVELOPMENT LOAN

Long term Loan for Development.
Deposit Multiplier by 4.
Maximum Period 84 Months.
Atleast 7 Guarantors.
Deductions through Salary.
Rate 1.33 % per month(16%P.A)Reducing.

EMERGENCY/EDUCTION LOAN

Loan for fees/unforeseen circumstances.
Deposit Multiplier by 4.
Maximum Period 12 Months.
Atleast 4 Guarantors.
Deductions through Salary.
Rate 1.25 % per month(15%P.A)Reducing.

SUPERFLEX LOAN

Loan term Loan for Bridging Projects.
Deposit Multiplied by 4.
Maximum Period 84 Months.
Atleast 7 Guarantors.
Deduction through Salary.
Rate 1.25% per Month (15%P.A) Amortized.

PIONEER LOAN

Loan for retired Members.
Deposit Multiplied by 2.
Maximum Period 84 Months.
Atleast 4 Guarantors/Collateral.
Proof of ability to pay.
Rate 1 % per Month (12%P.A) Reducing.

JIINUE LOAN

Loan Designed For Household Items.
Deposit multiplied by 4
Maximum period 20 Months.
Atleast 4 Guarantors
Maintain Net salary Atleast Ksh. 3000.
Rate 1.45 % per Month. Fixed Straight Line.

INSTANT LOAN

Long term Loan for Urgent Needs.
Net salary multiplied by 7.
Deposit Multiplied by 4.
Maximum period 10 Months.
Atleast 2 Guarantors
Deduction through Salary.
Rate 4 % per Month Reducing.

JIPANGE LOAN

Loan Designed For Household Items.
Deposit multiplied by 4
Maximum period 15 Months.
Atleast 4 Guarantors
Maintain Net salary Atleast Ksh. 3000.
Rate 1.45 % per Month. Fixed Straight Line.

LOAN ADVANCE

Once against Pending Loan Disbursement.

Maximum Amount 50% Loan Approved.

Rate 5% Amount advanced.

JITUNZE LOAN

Loan Designed For Household Items.
Deposit multiplied by 4
Maximum period 10 Months.
Atleast 4 Guarantors
Maintain Net salary Atleast Ksh. 3000.
Rate 1.45 % per Month. Fixed Straight Line.

PRE SALARY

Once Every Month against Salary through FOSA Account..

Maximum Amount 300,000.

Rate 10% Amount advanced.

Egerton University Sacco membership requirements

become a member today

How to Open Account with Us

Visit Our Nearest Branch Customer Care desk
Contact us for assistance

0110009393 or 0770999002.

Download account opening form at the website and send to info@egertonsacco.coop for processing. We will text you your account number.
Depositing the minimum membership fee : Mpesa paybill.

REQUIREMENTS FOR MEMBERSHIP

submit a passport size photo and a copy of the national identity card or any other authenticated identity.
Entrance fee of ksh 500
Plan to purchase minimum of 20,000 ksh worth of shares within six months.
Employed Members member to attach current pay slip and copy of employment letter.
Mode of remittance through the following:

Checkoff with employer

Cash deposit over the counter

Spotcash Mobile banking (*645#)

Sacco paybill no. 798073

Direct deposit to our Bank accounts

Bank standing orders

Direct debit

Egerton University Sacco Branches and contacts

kisii university branch

Our Kisii Branch is located within Kisii University main campus. Members can Deposit and withdraw cash, Apply for Loans and make all SACCO inquiries through the Branch. Open Monday to Friday 8:30am to 4:00pm.

nakuru town branch

Our Nakuru Branch is located at Golden Life Mall along Nakuru-Eldoret Highway, Nakuru. Members can Deposit and withdraw cash, Apply for Loans and make all SACCO inquiries through the Branch. Open Monday to Friday 8:30am to 4:00pm

laikipia university branch

Our Laikipia Branch is located within Laikipia University main campus. Members can Deposit and withdraw cash, Apply for Loans and make all SACCO inquiries through the Branch. Open Monday to Friday 8:30am to 4:00pm

Customer Care Contacts

To get in touch with us, kindly use our official channels, call: 0110009393, 0733999002 and 0770999002:
Email us on info@egertonsacco.coop

Egerton University Savings Products

Salary Account

Salary A/C

Targets salaried individuals who wish to save with the Sacco through check off remittances or standing orders.

Features/Benefits

Minimum account operation balance of Ksh 1,000 only.
Visa branded ATM Card for cash withdrawals and Point of Sale payments.
Free deposits to account
Salary processing
Indispensable requirement to access other financial services
Act as the receiving account for loan disbursement
Earns interest on savings

Fixed Deposits

Let your money work for you by giving you exceptionally high returns up to
10% p.a. in our fixed deposit facility. Minimum amount and period is
ksh.50,000 and 3 months respectively.

Amount

3 months

6 months

12 months

50,000 – 500,000

5 %

6 %

7 %

500,001 – 2,000,000

6 %

7 %

8 %

2,000,001 – 5,000,000

7 %

8 %

8.5 %

5,000,001 – 10,000,000

8 %

9 %

9.5 %

10,000,001 and Above

9 %

9.5 %

10 %

Children Savings

This account is designed to provide a savings facility for parents/Guardians to save for their children who have not attained the age of 18 years.

The account will cultivate and encourage the culture of saving and financial awareness in your child. It will also help you to plan for your child’s future financial needs.

Features and benefits:

The account will be in the name of the child but the parent is the sole operator of the account until the minor attains 18 years.
No account opening fee Minimum interest earning balance is Ksh. 2,000
No minimum account balance
Minimum monthly contribution amount Kshs.500
Standing orders from parent account to child account.
Direct/mobile cash deposits
Limited withdrawals allowed. Maximum of 3 every year.
The rate of interest will be based on amount and time of deposit;the higher the amount and the longer the period,the higher the rate.
The account attracts no monthly charges or account maintenance fees.
Withdrawal fees shall be in as stipulated in the Fosa Tariff Guide.
Children receive a free birthday card every year
No ATM service on this account

Non-Withdrawables

Share Capital

Purchase of minimum share capital qualifies a member to be a Sacco shareholder thus enjoy borrowing powers, voting rights and also earn annual dividends. May be done once off or gradually.

Share Deposits

Contributions done on a monthly basis depending on a member’s financial ability. Accumulated shares determine the amount of loan to be borrowed by a members and also annual interest/returns to be paid out.

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