Siraji Sacco is a SASRA (Sacco Society Regulatory Authority) compliant society providing banking services and affordable credit facilities to all its members countrywide. List Of Siraji Sacco Branches In Kenya. The SACCO started in the year 1996 and has experienced immense growth in services provision to all its members., Currently the SACCO is offering financial services to employees, Business community, farmers and Groups. The SACCO head office is situated at Timau, Meru County. It also has a branch at Karagita, Naivasha.
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Applicants are required to complete the Application for membership form which should be witnessed by an existing member. The applicant is required to attach a copy of National ID card. Ksh.100 is required for registration.
MEMBERSHIP ELIGIBILITY
The Sacco’s membership is mainly drawn from employees of horticultural farms in the Mt. Kenya, Nairobi and Naivasha regions. However, the membership is open to:
- Any individual or group employed or engaged in the agricultural sector
- Former Siraji Sacco members and employees.
- Immediate family members of persons qualifying for membership.
BOSA Credit Products
Quick loan.
This facility enables you to sort your emergencies access
*No maximum loan limit
*Reduced interest rates
*Quick loan disbursement
Asset loan.
This product enables you to acquire and own an asset
- Its cheap and easy to get
- Reasonable repayment period
- No maximum loan limit
Mkulima loan.
Facilitate dairy farmers and horticultural out growers buy farm inputs, machinery and meet their farming needs. Dairy farmers and horticultural farmers will get loan on condition that their payment will strictly be done through SIRAJI.
Features:
- Competitive Interest Rate
- Repayment period – 12 months
- Credit facilities based on account.
Elimisha/ school fees loan.
Meant for all active account holders to enable them meet their children and other dependant’s school feels needs. This account is meant to reduce advances that currently could be met by one month and three month advances.
- *Proposed processing one month before schools open
- *Multiplier is 3 times shares
- *Repayment period – 12 months
- *Cheque drawn directly to the school
- *Competitive Interest Rate
- *Processing fee kshs 100
Biashara loan.
Biashara loan at Siraji SACCO aims at providing working capital to micro and small entrepreneurs. It will also facilitate business expansion.
Features:
- At least 4 months active membership
- Maintain a FOSA Current account
- Repayment, Daily, weekly or monthly
- Competitive Interest rate
Super development loan.
Reach your development goals by saving at least 1000 every month and qualify for a supper development loan
*Regular monthly contributions of at least Ksh 1000 for at least 12 months
*No past loan defaults
*Plough back at least 50% of interest and dividends for at least one year
*Competitive Interest Rates
*Long periods of 48 months
*Multiplier of 4 times
Development/ normal loan.
It is a long-term loan that enables a member invest in development oriented projects such as purchase of land, plots or build hoses.
Features:
- Minimum saving period is 4 months
- Loan multiplier is 3 times your shares
- Maximum repayment period is 36 months
- Competitive Interest Rates
Trade financing/ LPO financing.
Facilitate entrepreneurs meet terms of contract with particular reference to delivery of supplies or services. The entrepreneurs working relationship with Siraji SACCO will give them confidence that they can deliver within the required time periods.
Features:
- Maximum of 3 month repayment period
- Finance 60 % of the amount paid.
- Must have been operating current account for Four months.
- Commitment to have the Payment channeled through Siraji SACCO.
- The company contracting to counter sign the commitment.
- Competitive Interest Rate
Group/ microfinance lending.
Purpose: The purpose of Microfinance groups is to facilitate low income earners get an opportunity to save and get loans through social collateral.
Features:
- Multiplier factor is 4 times the shares for the first loan
- Competitive Interest Rates
- Repayment period varies
FOSA Credit Products
Endelea loan.
This is a product for all customers who channel their salaries through the Sacco and needs funds for unexpected basic needs and emergencies.
Features:
- Processed within 12 hours
- Competitive Interest rate
- Repayment period is between 1-3 months
Karibu member.
This product is designed for members who wish to channel their salaries through Siraji Sacco but have loans in their current banks.
- *Must contribute the required share capital and deposit up front.
- *Amount will be pegged to savings
- *Introduce savings for the product
- *Repayment period of 30 months
- *Competitive Interest Rate
- *Letter of financial institutional and banker
Salary advance.
The purpose is to enhance members borrowing beyond the 2/3 rule applicable in BOSA by providing funds for productive purposes using salaries as security for loan.
Features:
- Members must be channeling their salary through the SACCO for I months
- Members must have saved with the SACCO for at least 2 months
- Competitive Interest Rates
- Maximum repayment period is 24 months
The loan is Processed within 24 hours
Savings Account Products
Salary savings account.
The purpose of this account is to enable members save any amount that has not been budgeted for and later withdraw when need arise; this will enable the member to reduce the level of impulse buying.
Features:
- No account maintenance fee
- No account opening fees
- Access to short term credit (Salary advance) Unlimited withdrawals
Junior savings account.
Open a Siraji Junior savings account and begin saving for your their children’s future today
- *No opening amount
- *Earns competitive interest rate on saving
- *Fun day for children
- *No ledger fees or withdrawal fee on this account
- *Mpesa Deposits
Jipange savings account.
“Mipango Sawa, Maisha Poa”
Offers a convenient plan to build up and accumulate savings for a specific goal
- *Limited withdrawals
- *Three free withdrawals per year
- *Attractive interest rates on savings
Fixed deposit savings.
“Akiba bora maisha poa”
Siraji Sacco offers you a reliable trusted investment option for your money to grow
- *One month biannual, annual savings options
- *Attractive interest rates
- *Fixed deposit acts as cash cover for loans
- *Negotiable fixed deposit cancellation
My chumz saving.
Offers a convenient savings plan for Youth Sacco Members to achieve their youthful aspirations and beyond
- Attractive interest rates
- Mpesa deposits
- No ledger fees
Holiday savings account.
“Safari Safi Maisha Poa”
Holidays are a time to enjoy ourselves with family and friends. Plan yourself in advance by opening our holiday savings account and save for your holiday vacation hassle free.
- *No account maintenance fee
- *No account opening fees
- *Earn competitive interest rates on saving
- *No charges on cash deposits
- *Mpesa deposits
Other Savings Products
Chama account.
“Muungano Bora Maisha Poa”
Are you a registered or unregistered self-help group or CBO with a drive to invest and develop? Open a Siraji Chama Account today and propel your group forward
Mkulima account.
“Mazao Bora, Maisha Poa”
Siraji has specifically developed an account for farmers in the dairy sector, horticulture and other farming sectors. Open a mkulima account today and receive tailor made benefits just for you.
*Unlimited withdrawals
*No monthly ledger fees
*Easy access to credit facilities.
Biashara account.
Biashara Bora Maisha Poa
Open a biashara account today and do business the easy way!
*Easy access to account using mobile phones
*Include LPO and invoice discounting
*Affordable operating balance
*Access to credit facilities
*Loans based on share deposit and business turnovers
Institution account.
The main aim is to meet the financial needs of Institutions. Institutions will be demonstrated the benefit of operating the financial institution close to them
Features:
- Unlimited withdrawals
- Salary processing of the institutions staff members
- Free standing order to other accounts
- Access to credit facilities based on shares and deposit (Biashara loan)
- Affordable bankers cheque and personal cheque books
Here is a List Of Siraji Sacco Branches In Kenya
Head Office- Timau
0704566922
0716466277
Nanyuki Office
0796389336
Naivasha Branch
0790610999
Isinya Office
0799781497
Kibirichia Office
0757397047
Siraji Sacco Postal Address and Contacts
Private Bag -Timau
Website: www.sirajisacco.com
Email: [email protected]
Facebook: @sirajisaccoltd
Twitter: @siraji_sacco
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