Below are important details about Wanandege Sacco:
Contact
Head Office Contacts
Wanandege Plaza, Off Old North Airport Road,Opposite Embakasi Police Station,Embakasi Village
P.O. Box 19074-00501 Nairobi
Tel.
+254 722 208557, +254 780 208557,
+254 780 208558, +254 111 044900
Email: info@wanandegesacco.com
Mombasa Office
Moi International Airport, Terminal 2,
Tel:
+254 781 908438,
+254 111 044922
Email: msa@wanandegesacco.com
Fosa Services
- FOSA Savings Account.
- Junior Savings Account
- Fixed Deposit
- Safe Custody Services (Valuables)
- Bankers Cheque, EFT and RTGS services
- Mpesa Super Agency/ M-Pesa Services
- Cheque Deposit/ Clearance
- ATM Sacco-link Visa Cards
- Mobile Banking (M-NDEGE) *346#.
Short Term loans
Bash Loan
For those special occasions, celebrations, or weekend plans for Wanandege Sacco Members this is the best product for them.
- Maximum loan granted is Ksh. 50,000/=
- Repayable in 12 months
- 14% Interest per annum.
- Security is on deposits or guarantors.
Pride Advance
For members that have accrued those leave days and are intending to take an annual leave or holiday, Wanandege Sacco offers them a great opportunity to finance their holiday with very favorable interest rates.
- Maximum Loan is 3 times Net Salary subject to 90% deposits
- Repayable in 6 months.
- Interest Rate – 5%p.m on reducing balance.
- Applicable to FOSA salary accounts holders only.
- Disbursed within an hour of application
- Security is on deposits or guarantors.
Salary Advance
This is a new product by Wanandege Sacco for members whose salary is channeled through FOSA. Members through this service will be able to access part of their salary before the end of the month. This helps our members to meet their financial needs before accessing their end month salaries. Available in *346#
- Maximum qualification is 75% of 3 months average salary.
- The loan is payable in 1 month.
- 10% Interest per month.
- This loan is also available to members channeling their salary through FOSA.
Airlift Loan
Be it business, medical emergency, or pleasure this service is tailor made to suit members needs 24 hours a day, all year round. To receive this loan a member needs to satisfy the following criteria.
- Send your current Payslip to Credit Manager for review and setting loan limit.
- One can only take a maximum amount of Shs. 200,000.00
- 10% Interest reducing balance per month.
Repayment
- Loan amount of 1-20,000 repayment period is 1 month
- For a loan that is anywhere between Ksh. 20,001/= to Ksh. 70,000/= the payment period is 1 or 2 months.
- For a loan amount anywhere between Ksh. 70,001/= to Ksh.200,000 the payment period is 1-3 months.
- Dial *346# to access the Airlift loan today.
Short Term Advance
This product is meant to meet members needs in between salaries and is available in long term and short term packages. This loan is processed Instantly. Available on *346#.
- Maximum loan limit is Ksh. 500,000.
- Repayable in 2 months.
- 10% Interest on reducing balance per month.
- Security is own deposits.
- Zero processing & insurance fees
- Dial *346# to access Short Term Advance.
Long Term Advance
This product is meant to meet members needs in between salaries. This loan is processed Instantly. Available on *346#.
- Maximum limit is 3X deposits.
- Repayable in 12 months.
- 14% Interest per annum.
- Security is on deposits or guarantors.
Dividend Advance
Dividend advance is pegged on the dividend payout.
- Available on *346#.
- Amount recovered during dividend posting.
Long Term Loans
Wezesha Loan
This is to target members who have huge outstanding loan balances and they may like to consolidate their loan in order
to get reprieve on their pays lip and access additional financing for their personal development.
- Interest rate 14% per annum on reducing balance.
- Repayment period maximum 84 months
- Multipliers of 4 times BOSA Deposits
- Deposit contribution as per Loan Banding structure applies
- Guarantors and acceptable collaterals as security
- The member must have been in the Sacco for more than two years.
- Members cannot access Wezesha or Super loan concurrently
- Qualification will be subject to 1/3 rule
- Terms and Conditions apply
Super Loan
Super loan is meant for development purpose.
- Maximum loan is 3X deposits.
- Repayment period is 60 months
- 12% Interest per annum.
- Member must contribute 6 months before they are eligible.
- Security is own deposits or guarantors.
Requirements:
- Minimum six months consistent contributions.
- Duly filled loan form.
- Two original current pay slips.
- Mode of payment check-off or standing order (Salaried).
Business Loan
This is a product for business people. This loan is ideal for registered groups, individual business people, and registered companies. To qualify for this loan a member has to fulfill the following requirements;
- One has to have transacted with Wanandege Sacco for at least 6 months.
- The minimum amount of time for repayment of the loan is 3 months and it has a maximum time limit of 36 months.
- 14.5% Interest per annum.
Development Loan
This is an option for those members who want to make improvements on their homes, acquire other property, or develop their farming land. It is granted for medium/long term investment purposes.
The requirements for this loan are;
- The loan is repayable in 48 months.
- 12% Interest per annum.
- This loan is also available for non check-off members.
Requirements:
-
- Minimum six months consistent contributions.
- Duly filled loan form.
- Two original current pay slips.
- Mode of payment check-off and standing order (Salaried).
School Fees Loan
This loan is provided for members to assist them to pay for their own, or their dependants school fees. Requirements for this loan are;
- The loan is payable in 12 months.
- 12% Interest per annum.
- This loan is also available for check off members.
Requirements:
-
- Minimum six months consistent contributions.
- Duly filled loan form.
- Two original current pay slips.
- Mode of payment check-off or standing order (Salaried).
- Security is own deposits or guarantors.
Emergency Loan
These loans allow members to pay for emergencies like hospital bills, burials and court cases.
- Emergency loans are processed within 30 minutes of application.
- 12% Interest per annum.
- Security is own deposits or guarantors.
Requirements:
-
- Minimum six months consistent contributions.
- Duly filled loan form.
- Two original current pay slips.
- Mode of payment check-off or standing order (Salaried).
Maisha Loan
The maximum amount that one can borrow in this category is capped at 2,000,000 shillings..
- Members qualify for this loan after 3 deductions received by the Sacco
- 15% Interest per annum.
- Members eligible for this loan should be less than 1 year in the sacco.
- Security is by guarantors.
- Maximum repayment period is 48 months.
Requirements:
-
- Two original current pay slips.
- Mode of payment check-off and standing order (Salaried).
- 34% of the loan amount applied will be recapitalized to the deposits.
Refinancing Loan
Refinancing loan can help a member by replacing an existing debt under different terms. The loan is also a feature of the development loan and the qualifications for this loan are as follows;
- The loan has a repayment period of 48 months.
- 13% Interest per annum.
- Security in the form of a guarantors or a member’s own deposits.
Requirements:
-
- Minimum six months consistent contributions.
- Duly filled loan form.
- Two original current pay slips.
- Mode of payment check-off or standing order (Salaried).
Star Loan
Star loan is a collateral based loan. An applicant will be required to have deposits equivalent to 20% of the loan amount.
- The loan is repayable in 72 months.
- 14% Interest per annum.
- Loan granted is based on 80% of the forced value of the collateral provided.
Requirements:
-
- Minimum six months consistent contributions.
- Processing fees and insurance of 3% apply
- Third party charges will be borne by the loan applicant
- Duly filled loan form.
- Two original current pay slips.
- Mode of payment check-off and standing order (Salaried).
Membership
- Savings
Saccos help you to save. As a member you are usually required to contribute a certain amount of money towards your savings. You all know how it’s hard to save especially if you don’t have a specific goall in mind. But with a Sacco you can continously keep on saving until that day that you’ll come up with an idea for something. It could be a business, buying land, a house etc.
- Loans
It’s much easier to secure a loan from a sacco as opposed other financials. As a memeber you are usually entitled to getting a loan that is usually worth a certain number of times the value of your deposits. It could be three or four times depending on the sacco policies. In addition to the ease of acquiring a loan the interest charged on the loans is usually much cheaper than financial banks.
3.Dividends
A sacco member you are a co-owner of the sacco and therefore you are entitled to dividends annually. Saccos usually pay a good dividend rate on your entire savings. The dividend rate may be as high as 10-15%.. Imagine if you had Kshs 1,000,000 worth of savings and the saccoo declares a dividend rate of 10%. That’s a whooping Kshs 100,000 in your pocket. Seriously, how better can it get?
4.Retirement
Are you planning on saving for retirement but don’t have a concrete idea as to where to save? Why not start with a Sacco. Like I mentioned earlier saccos usually give a good dividend rate and if you can save let’s say Kshs 5,000,000 by the time you’re retiring and the Sacco declares a 10% dividend rate annually that translates tto Kshs 500,000 annually. Divide that by 12 and you’ll be earning roughly kshs 41.667 per month.
Become a Member Today
To become a member, download the membership application form below and send it to customercare@wanandegesacco.com attaching all the required documents
