Sacco Information And Reviews.
Nyati Sacco was registered in 1977 under the cooperatives act by Securicor( G45 security services.) The main aim of the Sacco was to create a savings culture among its members and lend out loans for school fees and other emergency expenses.
With relatively positive reviews such as stable dividends, Nyati Sacco has positively grown with an asset base of 3.3 billion and a share capital of an impressive 148 million.
What Do We Know About Nyati Sacco?
Nyati Sacco has experienced growth over the years to be recognised as the best Sacco in risk management. The majority of their members work under security companies such as Absolute Security, G4S, Tandu alarms and employees of related firms and organisations. Not only that but their School fees funding towards the best student in KCPE gives it a 6/10 in regards to Saccos that give back to its members and actually helps improve their socio-economic well being.
What Products does Nyati Sacco Offer, and what is it Best Known for?
FOSA To access these services or open an account, dial *879#. Some of the benefits of this product are affordable and convenient savings & withdrawals. Services under FOSA include, salary processing, interest/dividend payments, Msacco and deposit or withdrawals.
BOSA Nyati Bosa services allow members to access credit services. The deposits are non-withdrawable and members can borrow against their savings at an interest.
Nyati Housing Cooperative society: A sister company to Nyati Sacco, it independently focuses on property management and investment. Members join in with a membership of Ksh.1,000 and a share capital of Ksh.20,000. Some of their properties are Katani and Kamulu and Joska. Such prime locations cost members up to Ksh.400,000 and land loans at 1% for 60 months to its members.
Eligibility and requirements at Nyati Sacco
What do you need to join Nyati Sacco?
- Passport photo
- Copy of KRA pin & copy of ID
- A minimum contribution of Ksh.1,700
- The share capital of Ksh.10,000
- Registration fee of Ksh.500
Where Can You Download Nyati Sacco App?
Nyati Sacco app services are unavailable on Google PlayStore as well as Apple Stores. Regardless, to access mobile services, dial *364*7# and follow the prompts.
How Can You Get A Loan From Nyati Sacco App?
To access BOSA loan services from Nyati,
- A member becomes eligible after 3 months of consistent contribution
- Need to have enough guarantors. 3 for long terms loans not exceeding Ksh.400,000 and 4 if exceeding that amount.
- Gross salary is definitely considered and utilised to a maximum of ⅔ of net income.
- CRB listing is considered too.
Amounts accessible through Nyati Sacco are up to 4-5 times member savings with repayments of 60-72 months depending on the loan product.
Interest rates vary as follows:
- 2%p.m at a 12 month repayment period plan
- 2.25% at an 18month repayment plan and
- 2.5% at a 24-month repayment plan.
Disbursements and Repayments at Nyati Sacco.
Cash and emergency advances and are disbursed and processed quickly within 24 hours. Special emergency however can take up to 1 week to be processed
Normal loans on the other hand take up to 3 weeks.
Employees from organisations that have a check-off agreement with the Sacco get deducted monthly. Cheques are allowed if members seek to offset their loans or direct deposits should they be out of employment.
What Unique Does Nyati Sacco Have To Offer?
As long as the parent/guardian is a member of the Sacco. Nyati Sacco offers ksh.100,000 in school fees as a reward to the top-performing student who sat for K.C.P.E.
Promotions And Rewards From Nyati Sacco
Apart from rewarding the best students with a Ksh100,000 school fees cheque, we could not find any promotions.
How can I Contact Nyati Sacco?
Looking for their customer care contacts instead? Call 0710567582/711593190 or dial *456*9*5# for quick resolutions to general queries.
The office location for Nyati is on Odyssey Plaza 2nd floor South B, Mukoma Rd.
[email protected] for general inquires and forwarding documents.