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Harambee Sacco Information and Reviews

By December 2, 2021 December 20th, 2021 No Comments

Sacco Information And Reviews.

[Update 02.12.2021]

Harambee Sacco is one of Kenyas largest DT Saccos in Kenya. Most of its customer base is from government institutions including the Office of the President. According to SASRAs’ annual report. Harambee Sacco ranks at no.4 on operations and performance of Tier 1 DT Saccos. But because over the past 3 years their dividends have gone down a 5/10 is sufficient.

What Do We Know About Harambee Sacco?

Harambee Sacco was started in 1970 as a merry go round savings and has now grown into a multibillion shilling institution with over 65,000 members. What makes this Sacco different from others is that its members are also shareholders and have a say in how their money is spent. As Harambe celebrates 50 years of existence, they have digitised their businesses and offers diverse services open to all Kenyans.

What Products does Harambee Sacco Offer, and what is it Best Known for?

BOSA: Offers both Savings and loan options. The savings are non-withdrawable and require monthly contributions of Ksh.3,000 for amounts less than 1 million. Above that, monthly contributions raise to Ksh.5,000. Under BOSA you can borrow up to 3x or 4x your savings.

FOSA: Under FOSA, there’s a salary account that comes with a SaccoLink ATM and M-cash. This is where all loans are credited after approval and allows you to access salary advance. 

Still, on FOSA products, members also get access to the Fedha Fixed Deposit Account that offers lucrative interests. The minimum amount required here is Ksh.10,000, no monthly charges and the period are from 3 – 12 months.

Then there’s a TOTO Junior Account that is also under FOSA which earns an interest of 4.5% p.a. The monthly fee is Ksh.500 and a minimum balance on the account is Ksh.1,000. Toto junior account allows for 3 free withdrawals and your child get a free piggy bank with savings of Ksh.5000.

Mortgage Products focus is on affordable housing and the facilities offered by Harambee Sacco are Harambee Home Loan and Harambee Jenga Loan.

Banking Services: Interestingly, Harambe Banking services are similar to what banking institutions offer. Their ATMs are even Visa enabled.

Eligibility and requirements at Harambee Sacco

To join Harambee Sacco, you need to, 

  • Register for a FOSA account where all loans are credited after approval.
  • A guarantor for when you might be in need of loan services.
  • Submit a filled application form for desired BOSA.FOSA product attached with Passport photos, ID, 
  • Pay Ksh.1,000 membership fee.
  • Ksh 300/month for the ‘sink fund’ or Loan protection program.
  • Share capital of Ksh.30,000.

Where Can You Download Harambee Sacco App?

Mcash access code to mobile banking is *357#. This service links Members Fosa Savings to mobile banking. Alternatively, download the app from Google PlayStore.

How Can You Get A Loan From Harambee Sacco App?

Whether it’s FOSA loans or BOSA loans, the application forms are available from the Harambee Sacco website and can be forwarded by email to

Thereafter, ensure that it’s signed by your employer on page 6. Attach ID, guarantors then drop or email the application.

Harambee Sacco loan repayment periods stretch up to 72 months and are processed within a day.

Alternatively, to apply on M-Sacco just dial * 346# and follow the instructions.

Note: Harambe Sacco loans are charged a processing fee ranging from Ksh.1,500- Ksh.7000 depending on the loan product.

On Salary advance under FOSA, the same application form covers this area but you need 4 guarantors. Interest on this is at 14% with an additional 1% processing fee.

For the advance, your salary needs to have passed through Harambee Sacco for at least 2 months.

Disbursements and Repayments at Harambee Sacco.

For large sums of money, especially loans, Harambee disburses them to your FOSA accounts while average loan amounts reflect within the day.

Deposits and remittances on the other hand are acceptable via Harambee Sacco Paybill 525200, check off, standing orders or direct deposits.

Dividends And Shares At Harambee Sacco.

Harambee Sacco ranks highest in savings but rates as one of the least paying Saccos with a lower payout %.

Unfortunately, over the past 5 years, Harambee Sacco dividends have reduced by 50% hence members receiving 7% dividends as of 2020. 2 digit dividend payout is something all its existing members are looking forward to and yet to see. 

What Unique Does Harambee Sacco Have To Offer?

Harambee Sacco has partnered with Cooperative bank in issuing ATM cards.

Also, in case of death, the ‘sink fund’( insurance) doubles deposits of the deceased member and pays out to the next of kin.

Promotions And Rewards From Harambee Sacco

We could not find any promotions or rewards from Harambee Sacco.

How Can I Contact With Harambee Sacco?

To contact Harambee Sacco, call 0709943000. Other alternatives are:

Leave your details on their Website or head over to Facebook, Twitter and leave a Dm for assistance.

Harambee Sacco offices are located at Harambe Cooperative Plaza. Hours are Mon- Fri 8.00-5.00 pm but closed on weekends and public holidays. For email attachments and forms or queries, email Harambe Sacco @

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