Below is how to join Telepost Sacco,paybill number,savings products,loans and contacts:
Telepost Sacco Membership Requirements
The Sacco currently draw 4,359 members from the following organizations:
- Telkom Kenya.
2. Postal Corporation of Kenya,
3. Multimedia University College of Kenya
4. Prime Telecoms
5. Pensioners
6. Reat security
7. Evolve consultancy
8. Careers direct limited
9. Fine media
10. Telepost Sacco Employees
11. Non – core bond members
12. CDL and HCS
Become A Member
Each applicant pays a one-off non-refundable membership joining fee of Kshs. 1000/=
- The Share Capital is Kshs 21,000.
• Minimum Deposit contribution is Kshs. 2,500
• The Kes 300 is Benevolent fund.
In the event that deposits contributions are received before the entrance fee and share capital, the same will be deducted from the deposits so received.
Monthly remittance can be done through Check-off, Electronic Fund Transfer (EFT), Money Order, Pay bill, Direct Debits, Cash Deposits In FOSA. Deductions are remitted latest by 15th of every month
Requirements
- Photocopy of National identity card
- Duly filled membership application form
- Passport sized photo will be taken at the Sacco
Non-withdrawable Deposits
These deposits are used as collateral against borrowings from the Society and shall only be refunded when a member withdraws from membership and provided the member has fully repaid all his debts and is free from guarantee.
Deposits may earn interests on Deposits paid from net surplus at the end of a financial year.
Features
- Minimum monthly contribution of Kshs. 2,500/=
- Fully refundable
Contact our offices for further discussion
Share Capital
Having Telepost shares capital means you are a member, as well as an owner; with equal rights and a voice in how the society is ran democratically.
Telepost Share Capital are neither refundable nor assignable as collateral for a loan.
Shares may earn dividends paid from net surplus at the end of a financial year.
Features
- To be contributed before one can start contributing SACCO deposits
- Minimum shares is at Kshs. 15,000, Compulsory to all our members
Contact our offices for further discussion
Telepost Sacco Contacts
ELEPOST SACCO SOCIETY
City Square Post Office,
5th Floor, Haile – Selassie AVENUE
P.O BOX 49557-00100
NAIROBI
EMAIL: info@telepostsacco.co.ke
WEBSITE www.telepostsacco.co.ke
- Customer care call
Tel: 020-5029200 - For inquiries on Sacco membership, products & services call
Mobile: 020-5029204 or 020-5029214
Call Centre:
020-5029200
Fosa: 020-5029206
Credit office: 020-5029211
Debt Recovery: 020-5029210
Open Weekdays: 8Am – 5Pm
For inquiries on loan eligibility and check off recoveries
call TEL: 020-5029212
For inquiries on loan application status and disbursement
call TEL: 020-5029211
For inquiries on Loan balance and deposit statement
call TEL: 020-5029209
For inquiries on your FOSA account balance, overdrafts and salary advance
call TEL: 020-5029206
For inquiries on defaulted loan and repayment
call TEL: 020-5029210
For ATM and mobile banking inquiries
call TEL: 020-5029201
Whats App- 0794582588
Savings products
Wezesha savings Account
Wezesha savings Account
This Account is a withdrawal 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.
Features & Benefits
- Withdrawals 4 times a year
- Interest 7% per annum on prorate basis
- Minimum earning balance of Ksh.5,000
- Saving modes -Internal FOSA standing orders, Checkoff, direct debit, mpesa pay bill
- The Sacco has express authority to recover from this account in case of default
Requirements
- Completed Account opening form
- Original and copy of National ID Card
- A photo will be taken at our banking premises
Mdosi Junior Savings Account
This product instills a savings culture in your child and enables you to plan for the future of your children.
BENEFITS
- Minimum interest earning amount of 5,000
- Minimum saving of 500
- A penalty of 5% for early withdrawals
- Cash withdrawable 2 times a year, after 6 months.
- Earns Interest at 4% Annually
- End year fun day for savers with more than Kshs.20,000
- Piggy bank for accounts with more than Kshs.5,000
- Annual Birthday wishes from the Sacco
- 2 free Bankers cheque annually drawn to the school
- When minors attain 18 years, account is converted to ordinary account.
- Savings can guarantee other loans
Jibambe Holiday Savings Account
Plan for your stress free holiday by saving through our Holiday Savings Account. This account is easy to open, offers competitive rates of interest and has no ledger fees.
BENEFITS
- Minimum interest earning balance of 5,000
- Can be withdrawn twice annually – every 6 months
- Interest rate of 4% per annum
- Minimum saving of 500 monthly
- Flexible payment modes- Checkoff, direct debit, mpesa pay bill
- one month withdrawal notice
- Savings can be used as collateral to other loans
ELIGIBILITY
One has to register as a Telepost SACCO member.
An interested member fills a holiday savings application form
Only copy of I.D. is required
Fixed Deposit Account
This is a deposit account where depositors can place short or long-term deposits for specified periods of time.
Features and Benefits
- Product is available to all members
- No maximum limit
- Minimum interest earning balance ksh. 50,000
- Open for re-investment upon maturity
- Earns interest upon maturity
- No monthly deposits
- Attractive interest rates
M-Banking
Cash Withdrawal
| Instructions | |
| 1 | Select menu option 2 for Cash Withdrawal and press send. |
| 2 | Select the cash withdrawal option.
Select 1 to withdraw via Safaricom M-Pesa, 2 to withdraw via ATM or 3 to withdraw via an agent of Telepost SACCO. Select menu option 1 for withdrawal via M-Pesa and press send. |
| 3 | Select the Source Account from which you wish to withdraw funds from and press send. |
| 5 | Enter the Amount you wish to withdraw and press send. |
| 6 | Enter your mobile banking PIN and press send. |
| 7 | Check that the cash withdrawal details are correct, then select 1 to confirm and press send. |
| 8 | The transaction will be processed, you should receive money in your M-Pesa account and a text message with confirmation of withdrawal from Telepost SACCO.
Enter 000 then press send to Exit. |
HOW TO USE PAYBILL TO MAKE DEPOSITS OR REPAY LOAN
HOW TO DEPOSIT THROUGH PAYBILL
You can deposit money directly into your account
Go to LIPA NA M-PESA
Choose PAYBILL
Enter Paybill Number 822221
For account number select appropriately from the list below:
PRODUCT Account No.
BOSA Deposits BD then ID No.
FOSA Savings FD then ID No.
Share Capital SC then ID No.
ESS ESS then ID No.
Loans Loan No.
Benevolent Fund BF then ID No.
Mdosi Junior Savings MJ then ID No.
Education Savings Scheme
This is a savings scheme, meant to save for Education needs.
BENEFITS
- Minimum contribution is Kes. 500 per month.
- Earns 4% interest annually
- Savings used to secure ESS Loan
- Withdrawable upon issuing one month’s notice – at least twice a year if necessary
Call Deposit Savings Account
This account allows members to save money at competitive rates with flexibility to withdraw from accounts.
Features
- Minimum interest earning balance is ksh. 10,000
- Minimum period to earn interest is 14 days
- One can make several deposits within a month provided the minimum is ksh.5,000
Pension Akiba Account
Pension Akiba Account
The product targets at Mobilizing FOSA deposits through Annuity Plans and monthly Pension contributions. Our PCK Members will be encouraged to save their pension through to this account and earn interest. Any lumpsum pension that members receive will be deposited here and a monthly salary plan developed.
Features and Benefits
- Open to all members – retired/ active employment/self-employment
- A monthly salary is paid after retirement
- Interest rate of 8% per annum will be payable
- Pension cannot be withdrawn until the age of 55/ 60 years.
- Pension saved can guarantee member loans.
- Upon retirement, 1/3 of the pension paid to member
- The 2/3rd is paid as a monthly salary for up to 10 years.
- In case of death, next of kin will be paid for 5 years or remaining period, whichever is less.
Chamaa Savings Account
Requirements
- Copy of national IDs/ passports, signatures of members
- passport size-coloured photographs
- Registration certificate and constitution
- Minutes of the meeting approving opening of the account and signing mandate.
- Meet minimum share capital
Features
- Group members must be members of the Sacco.
- Group with Membership of 5-20
- Interest earning rate of 4% per month
- Minimum monthly contribution of Kshs.5,000
- Minimum interest earning amount of Kshs.50,000
- A relationship Officer allocated to the group
Telepost Sacco Short Term loans
Wezesha Loan
FEATURES
- Strictly for FOSA salary earners
- Guarantors to be salary account holders
- Maximum amount of Kshs.150,000
- Repayment period of 9 months
- Interest rate of 2% monthly recovered upfront
- Processing Fee -1%
- Insurance of 1% for non-BBF contributors
Overdraft
FEATURES
- Accessible to salary earners
- Up to 83% of net salary
- Can be accessed through Mobile banking *882# and over the counter.
- Recovered upon salary.
- Repayment period 1 month.
- Instant processing time
- No guarantors required
Asset Financing Loan
A loan product made for individuals purchasing items from our Business Partners such as Text Book Centre, Huawei, Kentainers:
FEATURES
- Maximum of 12 months repayment period
- Interest rate of 10% Monthly
- Flexible loan security – Deposits, guarantors, savings
- Must be a member for at least 6 months
- Fully paid-up share capital
- loan appraisal fee of 1% shall be charged.
- Insurance charge of 2% shall be charged for non-BBF.
Jibambe Loan
FEATURES
- Maximum amount of 60,000
- Multiplier X2 of Jibambe holiday savings
- 10% of the loan deposited to savings
- Interest rate is 1% per month paid upfront
- Repayment period of 6 months
- Applicant Must be a member of holiday savings schemes
- Must have save for 3 consecutive times to qualify.
Instant Loan Advance
Granted to both salary and non salary account holders.
For non salary account holders a third rule is emphasized. The recovery period varies with the amount granted.
Features
- Available to all members
- Repayment period 12 months
- Must be a member for 6 months
- Must be guaranteed
- Maximum limit is Ksh.150,000
- Waiting period is 4 hours
- A third rule applies for non- salary members.
Pesa Tele Advance – Mobile Product
FEATURES
- Repayment period is 3 months
- Instant processing time
- Interest recovered upfront
- Available for FOSA salary earners
- Must be a member for 6 months
- Limit is Kshs. 50,000
- No guarantors required
Inua Loan
A loan product made for individuals purchasing discounted products from our Business Partners.
Features
- Maximum of 12 months repayment period
- Flexible loan security – Deposits, guarantors, FOSA Savings
- Must be a member for at least 6 months
- Fully paid-up share capital
Salary Advance
Features
- Available to salary earners
- Granted up to 75% of net salary
- Repayment period is 6 months
- Must have channeled salary for at least 3 months.
- Maximum limit is Kshs. 100,000
- Must be guaranteed
Karibu Loan
This loan targets new members who join the Sacco and would wish to access funds as they build their deposits
Karibu loan applicants to inject cash of Kshs.3,000 or more to share capital before being granted loan.
Capitalization of 10% of loan approved instead of enhancing member deposits
Features
- Designed for new members from existing MOUs
- Accessible after one month’s contribution
- Maximum repayment period of 6 months
- Maximum amounts of Kes. 70,000
- 15% of the loan is retained to boost member’s deposits
- Guarantors required depending on loan amount
Reloaded Plus Loan
The facility will be available to all FOSA account holders except holders of children accounts.
Features
- Available to all members
- Repayment period 12 months
- Must be a member for 6 months
- Must be guaranteed
- Maximum limit is Ksh.150,000
- Waiting period is 4 hours
- A third rule applies for non- salary members.
Pension Advance
- Available to pension Account Holders
- A 5% one off interest is recovered upfront
- Is given for a maximum period of three months
- The pension must have been processed through FOSA for at least three months
- Pensioner must take home 25% of the net pay to qualify
ESS/School fees
School fee loans are short term loans for purposes of paying school or college fee for the member or the dependents. The loan has a maximum repayment period of 12 months.
The credit product is only available to those members who have joined the Education Savings Scheme.
FEATURES
- Applicant should be a member of Education Savings Scheme to qualify
- Qualification of up to 4 times of the Savings
- Max repayment period of 24 months
- Interest rate of 1% per month
- Members must have contributed ESS shares for at least 6 months
Requirements
- Preprinted application forms,
- Copies of Identification Document used in the member registration,
- Most current original pay slips for salaried members
- Identification copies of the guarantors.
- Guarantors’ original pay slips if any
Bidii Loan
Features
- Available to FOSA salary
- Repayment period 24 months
- Must be a member for 6 months and channel salary for at least 3 months.
- Must be guaranteed by Sacco members
- Maximum limit is Ksh.300,000
- Can be serviced together with other long-term loans
- Waiting period 4 hours
Golden Age Advantage
- Interest rate applicable is 1% p.m. on reducing balance
- No guarantor required.
- 5% of loan amount to be posted to member deposits for new members.
- Maximum repayment period of 36months
- Maximum amount Kshs. 300,000.
- Pensioners must make a monthly BBF contribution of Kes. 300.
- The pension must have been processed through FOSA for at least 1 month.
- Minimum monthly deposits of Kshs. 500 Monthly share capital contribution of Kshs. 100 for new members.
- Minimum monthly contribution of kes.5,000
- Member should not have a running super loan
Telepost Sacco long term loans
Normal / Development Loan
The loan is meant to assist members who need to undertake development projects
This is a major loan for purposes such as land purchasing, house purchase/building, car purchase etc
The loan facility is processed and disbursed once monthly
Jijenge Loan
The loan is meant to assist members who need to undertake medium term development projects.
Features
- Repayment period is 60 months
- Maximum of x4 of deposits
- Minimum amount applicable of kes.500,000
- Minimum monthly contribution of kes.5,000
- Member should not have a running super loan
Requirements
- Preprinted application forms,
- Copies of Identification Document used in the member registration,
- Most current original pay slips for salaried members
- Identification copies of the guarantors.
- Guarantors’ original pay slips if any
Super Loan
The loan is meant to assist members who need to undertake medium – long term development projects. The loan has a maximum repayment period of 60 months.
Features
- Repayment period of 48 months
- Given up to Maximum of x3 of deposits
- Minimum of Kshs. 300,000
- Minimum monthly deposits of Kshs.4,000
Requirements
- Preprinted application forms,
- Copies of Identification Document used in the member registration,
- Most current original pay slips for salaried members
- Identification copies of the guarantors.
- Guarantors’ original pay slips if any
Biashara Loan
Designed for groups or Individual members who are engaged in running some income generating activities. The loan is intended to expand an existing income generating activity which should be in place six months prior;
Features
- Available to all members.
- Member must contribute shares for 6 months.
- Business income must be channeled to FOSA for at least 6 months.
- Loan recovery will be through FOSA standing order, check-off, direct debit, salary etc.
- Maximum amount applicable is Kes. 1,000,000 repayable in 24 months.
- Qualifier shall be 3 times of members deposits.
- Self-guarantee will be up to 90% of the member’s free deposits.
- Collateral shall also be used as loan security; member will bear perfection costs
Chamaa Business Loan
FEATURES
- Loans up to Kshs. 5,000,000 repayable within 36 years
- Multiplier of X2 of savings
- Interest rate of 1.3% monthly
- Loan guaranteed by the savings and/or collateral
- Individuals can access loans against Chama savings as minutes.
- Loan’s appraisal fees of 1% shall be charged.
- Insurance charge of 2% shall be charged
- All legal fees/costs shall be borne by the group
Restructuring Loan
The Loan Restructure is a product that seeks to help members repay their loans by reducing their monthly loan repayment amounts and increasing their loan term. This will help members who have genuine challenges repaying their loan
Features
- Repayment period of up to 72 months
- Loan qualification of X4
- Offset commission applies
- The applications must be approved by the Credit Committee.
- Members with this product will not qualify for other loans for a period of 12 months.
- No cash benefits
Fanikisha Loan
This product is accessible to salary account holders and is meant to boost FOSA salary accounts especially in Telkom and address the need for long-term loans for members without sufficient shares. We have observed serious competition by Bank within Telkom; member loans are being cleared by the members going for long term loans:
Features
- Repayment periods of up to 60 months.
- Interest rate 1.25% monthly
- Minimum applicable amount of Kshs. 700,000.
- Eligibility is subject to repayment ability, shares multiplier not applicable.
- Salary should pass through FOSA for at least 2 months to qualify.
- Number of Guarantors is subject to amount applied.
- Loan can be used to offset other facilities.
- Member must contribute to BBF
Waiting Period 30 days subject to availability of funds
Requirements
- Preprinted application forms,
- Copies of Identification Document used in the member registration,
- Most current original pay slips for salaried members
- Identification copies of the guarantors.
- Guarantors’ original pay slips if any
Golden Age Advance
- Advanced to members on monthly pension
- Interest rate applicable is 1% p.m. on reducing balance
- No guarantor required.
- 5% of loan amount to be posted to member deposits for new members.
- Maximum repayment period of 36months
- Maximum amount Kshs. 300,000.
- Pensioners must make a monthly BBF contribution of Kes. 300.
- The pension must have been processed through FOSA for at least 1 month.
- Minimum monthly deposits of Kshs. 500 Monthly share capital contribution of Kshs. 100 for new members.
- Minimum monthly contribution of kes.5,000
- Member should not have a running super loan
