Sacco Information And Reviews.
Safaricom Sacco came into focus in 2001 to assist its members in getting access to loans and at the same time improve a savings culture. This is the companies overall objective. This Sacco offers plenty of options for Kenyans such as ready-built homes or Loans on mortgages and construction. Though the reviews on their dividends are not great, thus giving them a 6, Safaricom has partnered with banks like Cooperative to assist Kenyans to build themselves financially.
What Do We Know About Safaricom Sacco?
It is one of Safaricom many investments portfolios that includes telecommunication services, digital lending and internet services. at this rate, we cant put it past them to venture into renewable energies!
What Products does Safaricom Sacco Offer, and what is it Best Known for?
Under the BOSA Product, members choose either BOSA savings or long term loans. The list is endless. From Asset financing, mortgage, car loans as well as mortgage or construction or ready homes. Alternatively, opt for short term BOSA loans that cater to education or small home requirements such as furnishings or appliances.
For FOSA related products, members are at liberty to choose either savings products or loans products.
Virtual Sacco Services. Here, these services are integrated to allow for Sacco payments via visa and all other payments. Services such as internet banking, USSD code access.
Downloads: This is where you need to go to access all Safaricom Sacco related forms.
Eligibility and requirements at Safaricom Sacco
Go here to download membership forms and all other downloadable Safaricom Sacco forms.
Technically, Sacco is open to all Safaricom members and related persons by proxy to the company.
Alpha membership fee is Ksh.1000 upon signing up and then Ksh.3000 monthly deposit. All these are payable through any form of payment
The minimum share capital is 400@ at Ksh100.
In the case of Omega membership, the membership fee is Ksh.2000 with minimum monthly deposits at Ksh.5000.
How Can You Get A Loan From Safaricom Sacco App?
On a good note. Loans for group membership, i.t, omega, one has access to up to 3 million. Minimum shares however have to be not less than Ksh.10,000. Visit the Website or directly head to membership and scroll to the bottom to view the requirements of getting a loan with Safaricom Sacco.
To get a loan with Safaricom Sacco you need to be a member of course and the more you save the more access to loans you get. This means you can get up to 3 times your deposit and pay back at a reducing balance of 1% p.m.
Depending on the type of loan you choose, you need guarantors and collateral except for Land loans.
Disbursements and Repayments at Safaricom Sacco
For the BOSA short loans, disbursement happens within the hour and one gets a maximum of 12 months to repay.
As with the norm of all SACCOs, Should you take a loan, the monies is deposited into a FOSAaccount and you can withdraw from there. With Safaricom Sacco, it takes 5 days to get a long term loan approved.
In terms of repayments, short loans can be paid through Mpesa or if you prefer the premium or development loans, you can enjoy48-72 months of repayments.
Dividends And Shares At Safaricom Sacco.
Safaricom Sacco dividends can be viewed from the website portal. In general, over the years, Safaricom Sacco dividends have played around 7-8% up until 2020. If there is ever a company that has benefited from the crisis in Kenya, it’s Safaricom. Covid-19 was not different. Safaricom recorded its highest first-ever dividend interim of Ksh.18bn.
What Unique Does Safaricom Sacco Have To Offer?
Safaricom Sacco has a marketplace with contacts for loan-related projects. That is building materials, insurance, tanks e.t.c. Simply ask for a quote, deposit money into your FOSA account and apply for a household loan.
Promotions And Rewards From Safaricom Sacco
We could not find any promotions or rewards from Safaricom Sacco.
How Can I Contact With Safaricom Sacco?
Linkedin is also available for corporate customers looking to contact Safaricom Sacco.
Office location and working hours are on Westlands Safaricom Care Centre first flr. from Mon – Fri: 8.00 p.m – 5.00 p.m and closed on Weekends.
In case you prefer to call Safaricom Sacco directly, use either 0111222226/7.