Sacco Information And Reviews.
IG Sacco is one of Kenya’s top tier 1 Saccos and has been around since 1977. In the beginning, it mostly offered its services to teachers. Through the years, IG Sacco has opened its doors to non-teaching members and has grown to have over 35,000 members.
Ranking 12th as one of the wealthiest Saccos in Kenya as per SASRA ranking.
What Do We Know About IG Sacco?
Invest and Grow Sacco, ( IG Sacco) has around 7 branches all over Western Kenya and anyone can join. By their outlook on Twitter, it suffices to say they get a secure 6/10. IG Sacoo might not be everyone favourite or popular Sacco but they seem legit and worth considering. The website however could use an uplift.
As is the trend of Tier 1 Saccos, IG also invested inFOSA services to better serve her members.
What Product Does IG Sacco Offer & What Is It Best Known For?
Loan Products: In this category, members get access to various types of loans under different services.IG Sacco offers a series of products depending on service category as shown below.
- FOSA: Under the FOSA products, members can access either, FOSA loans, progressive loans, empowerment loans or the Akiba Loan.
- BOSA: Here, members can access automobile loans, haraka loans, Normal loans, Fanikisha loans as well as Jipange, Mradi and Prime loans.
Advanced Products: Just like the name suggests, IG Sacco offers Loan advance, Pension advance, Salary and fixed deposit advance. The requirements are the same as that of loan products and it takes around 4 hrs for the advance to be approved.
Savings: When it comes to Saving with IG Sacco, interested to be members can choose from Akiba, holiday savings and Nyota Ndoggo savings. Simply put these products cater to Retirement, future plans and for your kids respectively.
Eligibility and requirements at IG Sacco
IG Sacco allows for any civil servant, corporate or business owner to be a member. Use the contacts below to get registered or follow this membership link.
If you are interested in their loans, however, the requirements are:
- Latest Payslip, application form & 30% repayment ability.
- For Salary to be paid through FOSA for at least 3 months.
- Security .i.e Non-withdrawable Deposits, Salary, Savings, Guarantors and Sacco acceptable tangible securities.
Another option that’s available to try is sending a filled form to s[email protected]
Where Can You Download IG Sacco App?
The IG Sacco company does not have a loan app. However, one can access mobile services by dialling USSD *879#. Most members use this to access the e dividend advance loans.
Access savings through Pesa Pepe M- Banking to get salary alerts, pay utilities, purchase airtime or get advance alerts
How Can You Get A Loan From IG Sacco App?
First of all, for IG Sacco to offer you a loan, you need to be a registered member. Secondly make sure to have either Non-withdrawable Deposits, Savings, or your salary passing through IG Sacco.
Redirect to see Loan products offered by IG Sacco by following the loan product link and choosing what works best for your needs.
Interest on these loans on the other hand vary. In regards to the amounts, ofcourse it will depend on how much you have saved and IG Sacco allows you to pay between 12months to 72 months.
Disbursements and Repayments at IG Sacco.
Loans taken through IG Sacco are repaid through check off. That’s why as a requirement, your salary has to pass through the Sacco.
For monies approved, it takes a maximum of 4 hrs for the amounts to reflect in your FOSA accounts.
Dividends And Shares At IG Sacco
To contribute to shares, I GSacco advises its members to use the pay bill 705001 with AC ID003002. They have a paybill guide on their website to assist with the process.
What are IG Sacco dividend rates? Well, as of 2020 IG Sacco dividends stood at 10%. For the share capital, they look like they aren’t doing very well as they recently took to their members to buy more shares and reduce their lending from commercial banks.
What Unique Does IG Sacco Have To Offer?
One of IG Sacco’s unique features is the capability of securing your saving with biometrics.
Promotions And Rewards From IG Sacco
We could not find any promotions or rewards from IG Sacco.
How Can I Contact With IG Sacco?
Where are IG Sacco offices located? Khalisia Road 3, IG Sacco Plaza.
To contact IG Sacco either mail them through P.O. Box 1150- 50100 Kakamega, Kenya. Better yet call+254 726 340 851/ +254 736 333 334.
For other queries that require documentation and the likes, send an email to: [email protected]