Ardhi Sacco Dividends range between 12.5% and 18% per year based on your shares. Below we provide all the details you need to know about the Sacco:
Who will join Ardhi Sacco
- Past and present employees of all the Government Ministries and institutions,
- Any other person employed by an organization registered in Kenya and capable of making regular contributions to the society and fulfilling loan repayment requirements.
- Approved business entrepreneurs and institutions.
- Non-Governmental organisations.
- Kenyans in Diaspora
- All Universities
- Groups and Chamas
Share Deposits
This is one of the core function of the Society whereby one borrows after having saved. Currently members are supposed to contribute a minimum of Ksh.3,000 or 7% basic salary monthly. Members are encouraged to save more even above the minimum contribution. These deposits are refunded to the member on application giving 30 days notice.
Requirements for joining Ardhi Sacco
To become a member one must:-
- Fill an application form for membership.
- Pay a membership fee of Ksh.1000 once.
- Pay a monthly minimum contribution of Ksh.2500
- Pay sinking fund of Ksh.300. i.e. Ksh.150 for sinking fund and the other Ksh.150 to cater for the institutional ratio deficit.
- Two passport photosgraphs, copy of ID and pin number.
Ardhi Sacco Savings Products
Opening an Account
Features
- Prescribed application form.
- Membership of the SACCO
- Two-passport size photograph
- Copy of National ID
- Copy of society’s membership card
- Minimum bal.-Ksh 500
- Pin Certificate.
For Groups
For groups add the following:
- Groups are allowed to open savings account so long as more than one of them is a member of the Society.
- Group minutes authorizing them to open a savings account
- Group registration certificate.
- Certificate of good conduct for the office bearers.
- Pin Certificate for individual group members.
Biashara Account
Features
- A/c holder has access to advances with flexible terms.
- Minimum balance Ksh.10, 000.
Holiday Account
- Enables savings for holiday and leave expenditure
- Interest credited at the end of the year.
Retirement Account
Features
Encourages savings for retirement
- Access funds on retirement.
- Interest credited at the end of the year.
Savings Account
Features
- Interest is credited at the end of every financial year.
- No withdrawal notice.
- Connected to Sacco link and mobile banking (Pesa Pepe).
- Minimum balance Ksh.500.
- No charge on deposits.
Fixed Deposit Account
Features
Used for long-term investments at reasonable returns
- Deposit terms are three, six, nine and twelve months and are renewable.
- Interest payable at maturity.
Junior Account
Features
Encourages savings for school fees and presents/gifts
- Minimum balance Ksh.500.
- Interest credited at the end of the year.
Ardhi Sacco Loans
Qualification for a loan
Features
- Must have contributed a minimum of Ksh.6000 for three months.
- Must be guaranteed by two or more members whose shares and those of the loanees must be equal to the loan applied.
- Loan applied must be three (3) times the members savings.
- Interest chargeable shall be 1.2% on reducing balance i.e 7.8 p.a.
- Must attach two current payslip.
- (1/3 salary rule shall apply to all loans.
FOSA Loans
Instant Advance
Features
- Offered to customers of ASFOS
- Must be guaranteed by at least two members
- Repayment period 24 months
Salary in Advance
Features
- Offered to salary accounts holders
- Maximum amount equivalent to net salary
- Repayment period 1 month
- Interest charged is 3%
- Must be guaranteed by at least three guarantors.
Salary Advance
Features
- Offered to salary account holders
- Limited to 6 months net salary
- Repayable within 30 months
- Interest rate is 12 % p.a.
JazaJaza Facility
Features
- Secured by the loan/advance applied.
- Helps the member to boost share deposits/ clear outstanding loans/advance with the society so as to access bigger loan with the society.
- The amount is recovered once the loan is approved.
Saves the member from expensive credit options.
Discounting Credit
Features
- This is a facility that allows the member to access part payment of expected funds from the society e.g. loan, refund of deposits, dividends.
BOSA Loans
Development loan
Features
- Repayment period shall be 1 to 84 months.
- Members are entitled to 4 times savings.
- No supporting documents required.
- No collateral security required.
- Loans approved on monthly basis on first come first served basis.
- Any amount applied of up to ksh 500,000 is processed and paid the same day.
School Fee loan
Features
Granted for the purpose of paying school fees.
- No supporting documents.
- Repayment period is 1 to 24 months.
- No supporting document required.
- Members are entitled to 4 times savings..
- No collateral security required.
- Any amount applied of up to ksh 500,000 is processed and paid the same day.
Karibu loan
Features
- For new members to enhance settlement.
- Maximum Ksh.100,000
- Repayment period 1 to 18 months.
- Applicable to salaried members only.
- Must be fully guaranteed.
Emergency loan
Features
Granted for any unforeseeable circumstances beyond the members control.
- No supporting document required.
- Members are entitled to 4 times savings.
- Repayment period 1to 24 months.
- No collateral security required.
- Any amount applied of up to ksh 500,000 is processed and paid the same day.
Ardhi Sacco Customer Care Contacts
Email Address
info@ardhisacco.com
Call Us
+254 709 252 100
+254 722 209 851
+254 730 725 000
Address
Survey of Kenya Field Headquarters
Ruaraka Off Thika Road
P.O.Box 28782 – 00200
Nairobi
Work Hours
Mon-Fri 08:00 – 05:00
Ardhi Sacco Paybill
Paybill: 305750
