Below is a list of loans offered by Nyati Sacco,Savings products,Paybill and contacts:

M-chapaa

We are pleased to inform you our esteemed member that from the comfort of your home you can now pay your remittances to the SACCO through MPESA pay bill number 906100.

The guidelines on how to access and send your funds through MPESA are accessible  below

Nyati Sacco Contacts

• Odyssey Plaza 2nd Floor, South B, Mukoma Rd
• P.O. Box 7601 – 00200 Nairobi, Kenya

• Pilot Line – 0111 050 690
• Safaricom – 0710 567 582 / 0711 593 190
• Orange – 020 267 9801
• Message Code – 40102

• Email: info@nyatisacco.co.ke

FOSA Products

FOSA Savings Products

FOSA Savings Account

This Account is a withdrawable deposit account that members use as a transaction account and can also be used for savings purposes. The account caters for members’ regular transactions like salaries and loans processing; cash and cheque deposits; electronic funds transfers, standing orders.

FOSA Savings Accounts Features

• The account maintenance balance is Ksh.500
• The minimum interest earning balance is Ksh. 2,000
• The Fosa Account holders are eligible for ATM card
• The Fosa Account holders are eligible for M-Sacco services.
• A member can make regular savings to the Fosa Savings Account through a check-off arrangement with the employer, save by using the Sacco pay bill Number 906100 or cash deposit over the counter.

Special Savings Account

A fixed account is an investment account where you deposit funds for a fixed period and the interest rate does not fluctuate during the investment period. This is a perfect account for your investment if you want to invest a lump sum of money and will not access it until the specified period matures.

Special Savings Account Features

• Minimum balance of Ksh 5,000.
• You can choose how long you want to invest either for 3 months, 6 months , 9 months or 12 months.
• The interest rate is fixed for the full period of your investment and its currently at 6% p.a.
• You cannot add to or withdraw from your investment during the investment term.
• Can Act as a facility for collateral on borrowing – this account acts as a security on acquisition of a sacco loan.
• No fees are charged on this account

Fixed Deposits Savings Account

A fixed account is an investment account where you deposit funds for a fixed period and the interest rate does not fluctuate during the investment period. This is a perfect account for your investment if you want to invest a lump sum of money and will not access it until the specified period matures.

Fixed Deposits Savings Account Features

• Minimum balance of Ksh 5,000.
• You can choose how long you want to invest either for 3 months, 6 months , 9 months or 12 months.
• The interest rate is fixed for the full period of your investment and its currently at 8% p.a.
• You cannot add to or withdraw from your investment during the investment term.
• Can Act as a facility for collateral on borrowing – this account acts as a security on acquisition of a Sacco loan.
• No fees are charged on this account.

Junior Savings Account

This Account is for junior savers. It encourages members to save for their children, Grandchildren.

Junior Savings Account Features

• Low opening Balance Kshs 500
• Minimum Monthly Savings Kshs 200
• Interest Earning balance Kshs 1,000
• No Ledger fees or withdrawal fee on this account
• Account to be operated by parent/guardian for the child up to 18 years.
• 3 Withdrawals per year will be allowed
• Home savings branded Tin on Account Opening(piggy Bank)
• Earns an interest rate of 6% p.a

Retirement Savings Account

This Account is also referred to as a retirement savings scheme, and it is specifically designed to address the financial needs of the account holder after retirement, dismissal or resignation from formal employment, or permanent disablement due to age, disease or any other cause.

Retirement Savings Account Features

• Withdrawals from the account shall be restricted as follows:
  -After the first 5 years – 30%
  -After 10 years – 50%.
• No other withdrawals either in whole or in part shall be allowed until termination of the Account.
• Interest earning will be based on the balance at the end of every year
• Retirement savings can be pledged as security for loans
• Understand how much money you may need to retire. Set goals and stick to them!

Microfinance/Group Savings

Are you in a solidarity or investment group?

Microfinance/Group Savings Requirements

• Certificate of registration.
• Constitution of the group.
• List of members.
• Group minutes resolving to join Nyati Sacco.
• ID copies and passport photos of authorized signatories
• Solidarity group Registration fee is 2220/= per member and Investment groups is 1000/=
• Minimum savings 400/= per week per member for solidarity groups and 5000/= per month for investment groups.
• Save for a minimum period of 3 months and access loans up to 3 times of your contributions
• Interest charged at 1.5% p.m. on reducing balance.
• Maximum repayment period is 36 months
• Appraisal fee is charged at 1%
• Maximum Loan 1,000,000

FOSA Loan Products

FOSA Loans

All FOSA loans are mobile based except for the Personal Loan. Mobile based loans are applied using the following procedure:

• Dial *879#
• Select 3 – Loan
• Select 1 – Loan Request
• Choose the type of loan
• The amount you qualify for will appear on the screen
• Reply with the amount and guarantor if required
• Wait for M-chapaa to respond

Special Advance

Features:

• Members qualify for a minimum of 50% of the previous year’s interest earned on deposits
• Member have contributed monthly required amount for atleast 11 months on the previous year

Interest Charged:

• January – 10%
• February – 7.5%
• March – 5%

Salary Advance

• Must have a Fosa account.
• Salary must pass through Fosa for at least 1 month
• Granted up to 50% of Net salary
• Caters for urgent needs, Medical bills, Insurance, Family subsistence, etc…
• Repayable within one (1) month
• Interest rate at 5% upfront

FOSA Flex

• Must have a Fosa account.
• To cater for urgent needs, Medical bills, Insurance, Family subsistence, etc…
• Repayable in 3 months
• Granted up to 3 times the net salary
• 1 guarantor required
• Interest rate at 2% upfront

BOSA Products

Back Office Service Activity

BOSA saving products

Member Deposits

This is the monthly contribution made by a member against which they can access loans, guarantee loan and earn interest at the end of the year.

• Minimum monthly contribution is a per Gold membership category

• To Earn interest on deposits, member MUST pay contributions consistently

• Ability to guarantee and be guaranteed

• Ability to access loans in multiples of 4 times on one’s deposits

Share Capital

This is a unit of ownership of the SACCO and members earn dividends on the same annually when declared. The Share Capital is not withdrawable and cannot be used to guarantee loans or used as multiplier to access loan but can be sold or transferred to an existing member upon one’s withdrawal from the SACCO. The minimum share capital is Kshs. 30,000.00 or 3000 shares of Kshs100.00 each by December 2026.

Reasons why a member should have a Share Capital account:

• To drive the SACCO business

• To meet the SASRA requirements that is the Institutional Capital

• It’s a long-term investment with annual return

Benevolent Fund

This is a premium paid by each member in order to take care of funeral arrangements in case of demise of Member and Spouse. The amount to be paid is ksh.240 per month for Member and Spouse.

• In case of a member’s demise, the family is given Ksh.100,000 for Burial Expenses, all loans are offset then next of Kin is refunded Two (2) times of member savings

• In case of Spouse demise, the family is given ksh.70,000 for Burial Expenses

• If a Member is totally incapacitated, Sacco shall pay 30% of outstanding loans.

• Ability to access loans in multiples of 4 times on one’s deposits

Claim Procedure:

• Fill claim form and attach Original & a copy of burial permit, ID of Member and deceased then claims will be paid within 48hrs.

• To facilitate final dues, member must provide original Death Certificate.

BOSA Loan Products

Long Term Loans

Development Loans

These products are repayable within 48 months to 10 years

Requirements:

• Three current pay slips
• Minimum of three guarantors
• Copy of ID card and ID copies of guarantors
• Non checkoff attach Six months Bank or Mpesa statement

Terms:

• Maximum repayment period of 72 months
• Interest charged on reducing balance
• Maximum Eligibility 4 times deposits

Keja Loan

Key Stages Of The Mortgage Loan Process/requirements

• Members checks the eligibility through the Sacco Loans team.
• Submission of loan application request attaching required documents: sale agreement, Copy of title deed/lease document, ID copy, KRA PIN copy, 3 months pay slips or 6 months bank statement.
• Members select the valuer from the list provided by the SACCO .
• Upon selection the instruction is sent to the valuer for the valuation process.
• Members settles valuation fees for the valuer to release the valuation report to the Sacco.
• Loan appraised and approved as per the Sacco guideline.
• The member completes CiC Domestic Package Insurance Form to ensure the securing property is insured at all times, during the lifetime of the loan.
• Charging process commences by;
  • List of Lawyers shared to the member to select the preferred one
  • Then instruction sent the lawyer for the process
  • A letter of the undertaking will be issued to the seller of the property for the release of the original certificate of title, transfers, and other relevant documents
• This legal process will take approximately 90 days (3 months) with the following charges incurred by the member:
  • Lawyer fee (as negotiated by the member with the lawyer)
  • Stamp duty
• Upon receipt of Charged title / property; funds are disbursed.

Nyati Sacco Home Purchase Loan

The following documents shall be required:

1. a) Income Documents 

• Attach three months’ most recent and certified pay slips.
• Attach six months most recent and certified bank statements for all banking relationships.
• Irrevocable authority to the employer to deduct the monthly loan instalments via check off.

1. b) Identification Documents

• A clear copy of national identity card.
• A clear copy of KRA Pin Certificate.
• Letter of offer or draft sale agreement from the vendor spelling out the specific property details and the terms of the proposed sale.

1. c) Property Documents

• Letter of offer or draft sale agreement from the vendor spelling out the specific property details and the terms of the proposed sale.
• A copy of title/lease for the proposed property.
• Valuation Report if available; the same shall be a condition on the Letter of Offer.

Nyati Sacco Construction Loan

The following documents shall be required:

1. a) Income Documents 

• Attach three months’ most recent and certified pay slips.
• Attach six months most recent and certified bank statements for all banking relationships.
• Irrevocable authority to the employer to deduct the monthly loan instalments via check off.

1. b) Identification Documents

• A clear copy of national identity card/passport.
• A clear copy of KRA Pin Certificate.

1. c) Property/Project Documents

• A copy of title/lease for the proposed property in the applicant(s) name(s).
• Proof land rates/rent payment.
• Approved architectural drawings from a qualified and certified architect.
• Approved structural drawings from a qualified/certified structural engineer (for maisonettes).
• Priced Bill of Quantities and a proposed construction schedule from a qualified/certified Quantity Surveyor (QS).
• Professional profiles & certification of consultants involved i.e. architect/QS/structural engineer & contractor/foreman.
• Approval by National Construction Authority (NCA).

1. d) For Self-employed

If self-employed provide;

• Copy of business registration certificate for and sole proprietorships and partnerships.
• Copy of partnership deed (in-case of partnership).
• 3 years’ proof of business (audited accounts, or income and expense accounts).

Short Term Loans

This product is to take care of members’ short-term and unplanned need for cash.

Requirements:

• Three current pay slips
• Copy of ID Card
• Minimum of two guarantors and their ID Copies

Terms:

• Maximum repayment period of 12 months
• Interest charged on reducing balance
• Maximum Eligibility 4 times deposits

Micro Credit Products

In line with the Sacco’s vision and mission, we have tailor made products to cater for the Micro sector

Solidarity Group

Biashara Loan

This product targets individual members in groups who meet the following criteria

• The groups are constituted by a minimum active membership of 10 and not more than 50 people.
• Registration fee of ksh.500/=
• Minimum share capital Kshs.10,000/=
• Avail ID copies, passport photos and KRA pin certificates.
• Every group must be registered with the relevant government authority.
• Have members who have regular income and are engaged in legal business activities and must know each other well.
• The group members must be willing to save for a period of twelve weeks.
• The groups to demonstrate the capacity and ability to mobilize savings among members and manage the same for the benefits of its members.
• The groups must have popularly elected group officials and signatories.
• The group should have an account with the SACCO and continuously contribute the agreed contributions.
• All the individuals shall be required to be members of Nyati Sacco Society ltd by holding minimum shares.
• Loan repayment will be on a daily/weekly/monthly basis.
• Members in a group must co-guarantee one another when applying for loans.

Collateral

• Chattels
• Savings

Loan Cycle	Max Loan	Multiplier Factor	Max Term (Months)	Weekly savings
First Loan	50,000.00	10	6	300
Second Loan	100,000.00	5	12	300
Third and subsequent loans	200,000.00	4	24	300
Interest Rate	1.25pm Flat Rate

Solidarity Group

Biashara Loan Plus

This product targets individual members in groups who meet the following criteria

• The groups to be constituted by a minimum active membership of 10 and not more than 50 people.
• Registration fee of ksh.500/=
• Minimum share capital Kshs.10,000/=
• Avail ID copies, passport photos and KRA pin certificates.
• Every group must be registered with the relevant government authority.
• Have members who have regular income and are engaged in legal business activities and must know each other well.
• The group members must be willing to save for a period of twelve weeks.
• The groups to demonstrate the capacity and ability to mobilize savings among members and manage the same for the benefits of its members.
• The groups must have popularly elected group officials and signatories.
• The group should have an account with the SACCO and continuously contribute the agreed contributions.
• All the individuals shall be required to be members of Nyati Sacco Society ltd by holding minimum shares.
• Loan repayment will be on a daily/weekly/monthly basis.
• Members in a group must co-guarantee one another when applying for loans.

Collateral

• Chattels
• Movable assets
• Land
• Quoted stock
• Savings

Loan Cycle	Max Loan	Multiplier Factor	Max Term (Months)	Weekly savings
First Loan	100,000.00	8	12	500
Second Loan	200,000.00	5	24	500
Third and subsequent loans	400,000.00	4	24	500
Interest Rate	1.25pm Flat Rate

Investment Group

Biashara Asset Finance/Investment Loan

This product targets individual members and Chama/Investment groups who meet the following criteria

• Must have a certificate of registration (for older groups, the certificate should be renewed)
• Constitution of the group.
• List of members (include; Names, id.nos, phone numbers, signatures)
• Group minutes resolving to join Nyati Sacco, signed by all group members.
• ID copies and passport photos of authorized signatories.
• Power of attorney
• Save for a minimum period of 3 months and access loans up to 3 times of their contributions.
• Registration fee Kshs.1000/=
• Minimum savings Ksh. 5000/= per month for investment groups.
• Minimum share capital Kshs.10,000/=
• Interest charged at 1.5% p.m. on reducing balance.
• Appraisal fee is charged at 1%

Collateral

• Movable assets
• Land
• Quoted Stock
• Savings

Max Loan	Max Term (Months)	Monthly savings
1,000,000.00	36	5,000.00
3,000,000.00	36	5,000.00
5,000,000.00	36	5,000.00
1.3pm Reducing
Multiplier Factor	4 (four times)

Nyati Sacco Membership Requirements

Housing Membership comprises of:

• Members of Nyati Sacco ltd

• Participants of the various projects undertaken by Housing e.g. Katani, Kamulu and Matuu

• New members subsequently admitted in accordance with the housing by-laws

How to Register

Registration forms are available in our offices at Nyati Sacco and can also be down-loaded from the Nyati Sacco website

01

A person is qualified to join Housing upon filling the above-mentioned membership forms.

02

Membership fee is Kshs 1,000.00

03

Raise a share capital of Kshs 20,000.00 minimum. You are given a grace period of up to 12 months to complete paying for the share capital after which share certificates are given.

04

The member will then make a minimum monthly contribution (Deposits) of Kshs 1,000.00 and an administration fee of Kshs 300.00 per month. This deposits goes to one’s investment account and on accumulation, a member can redeem the same to participate in a project.

N/B

The amount is non-refundable but it’s transferable or can be sold to an existing member of Nyati Housing.

Housing Membership comprises of:

Members are encouraged to open and build their deposits in anticipation to purchase plots/properties once they are available for sale. Note that the Nyati Housing Cooperative Society is run separately from Nyati SACCO, and it has it is own elected Delegates, Central Management Committee (CMC) and Supervisory Committee (SC). However, Nyati SACCO still accords the Housing support in terms of staffing and office facilities during this early stage on mutual partnership.

Ongoing Projects

Joska Plots

This is our current project that we are pursuing. The land is Located along Kangundo Road, 10 Km from Joska shopping centre. The land is ready for settlement with several Saccos already in place. e.g.K.N.U.T Muranga, Safaricom investors, and Nacico Sacco.        

Prices

• Members: Ksh. 355, 000
• Non-members: Ksh. 400, 000

N/B

• Deposits: 25% of the Total cost for you to be allocated a plot.
• Interest: 10% from the fourth Month after booking to 1 year.
• Land Loan available at 1% for 60 Months to Sacco Members, No Guarantors. (Loan Security Title)

Accomplished Projects

Katani phase 1&2

This was the very first project that housing participated in back in 2011/2016. The Society acquired 10 acres at Katani, off Mombasa road past Syokimau, Machakos County. The land was sub-divided into 1/8 plots and allocated to members who showed interest. The project was sold out and title deeds issued to members.

Kamulu Phase 1&2

This was the second project that Housing undertook at Kamulu, off Kangundo road. The Society acquired 10 acres and sub-divided it into 1/8 plots and sold out. The title deeds were also issued out and members have already settled in their plots.

At the time, plots in Kamulu were selling at Kshs 300k but today those who took up the opportunities are selling above 900k.

Nyati Housing Co-operative Society

All SACCO members are also encouraged to assist the Central Management Committee (CMC) of the Nyati Housing Society to identify properties in their counties for acquisition and on-selling to members.

When selling property, we first give priority to members who have registered with Housing and are actively participating through the monthly contribution. Non-members always obtain the plot at a higher pricing.
Trust that the above detailed information will help market the society as I also welcome your membership.
For every new member you recruit to Housing, you earn yourself a commission of ksh 500 after 3 consecutive months of contribution by the new member.

Note

• The Nyati SACCO has developed Asset Financing product to support the members of Nyati Housing Society among other members to acquire loans to purchase identified properties and add value to them.

• The Housing Pay bill Number is 656866, Acc-your Name
• Bank details: Nyati Housing Co-Operative Society Limited Co-Operative Bank Ukulima Branch 0110 0133 552 500/ 01120 1335 52 500