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SACCOs in Kenya.
What are some of the best SACCOs in Kenya?
How do they compare against one another?
Let's find out below
SACCOs in Kenya.
What are some of the best SACCOs in Kenya?
How do they compare against one another?
Let's find out below
Before we get started:
- Note that the order in this list is not a ranking.
- Check out the bottom of this thread for an e-book on financial literacy.
- Learn more about SACCOs in this thread https://twitter.com/kahome_steve/status/1440975302260314113?s=20&t=M35DTg2X-aPXgOzL5i5v3Q
- Note that the order in this list is not a ranking.
- Check out the bottom of this thread for an e-book on financial literacy.
- Learn more about SACCOs in this thread https://twitter.com/kahome_steve/status/1440975302260314113?s=20&t=M35DTg2X-aPXgOzL5i5v3Q
1/ STIMA SACCO
Minimum shares for individuals is Ksh 25,000
Minimum monthly ontributions - Kshs 1,000
Registration fee of Ksh 500
14% dividend on share capital (2021)
10.75% interest on deposits (2021)
Minimum shares for individuals is Ksh 25,000
Minimum monthly ontributions - Kshs 1,000
Registration fee of Ksh 500
14% dividend on share capital (2021)
10.75% interest on deposits (2021)
2/ HAZINA SACCO
Registration fee of Ksh 1000
Minimum contributions of Ksh 1,000 or 5% of basic salary(whichever is high)
Minimum share capital of Ksh 15,000
Deposits on share capital 19% (2021)
Interest rates on deposit 10.3 % (2021)
You can borrow 4/ 5 times your deposit
Registration fee of Ksh 1000
Minimum contributions of Ksh 1,000 or 5% of basic salary(whichever is high)
Minimum share capital of Ksh 15,000
Deposits on share capital 19% (2021)
Interest rates on deposit 10.3 % (2021)
You can borrow 4/ 5 times your deposit
3/ SAFARICOM SACCO.
Registration fee of Kshs 1,000
Minimum share capital of Ksh 40,000
Minimum monthly contribution of Ksh 3,000
12 % dividend on share capital (2020)
7.5% interest on deposits (2020)
Registration fee of Kshs 1,000
Minimum share capital of Ksh 40,000
Minimum monthly contribution of Ksh 3,000
12 % dividend on share capital (2020)
7.5% interest on deposits (2020)
4/ POLICE SACCO
Minimum share capital of Ksh 50,000
Interest on deposits 10.5% (2020)
Dividend on share capital 17% (2020)
Minimum monthly contribution - 12% of your basic salary
Minimum share capital of Ksh 50,000
Interest on deposits 10.5% (2020)
Dividend on share capital 17% (2020)
Minimum monthly contribution - 12% of your basic salary
5/ SHERIA SACCO
Entrance fee of Ksh 1,000
Minimum share capital is Ksh 20,000
Members can borrow 3 times their savings.
Dividend on share capital was 16% (2020)
Interest on deposits was 8.5% (2020)
Entrance fee of Ksh 1,000
Minimum share capital is Ksh 20,000
Members can borrow 3 times their savings.
Dividend on share capital was 16% (2020)
Interest on deposits was 8.5% (2020)
6/ HARAMBEE SACCO
Membership fee of Ksh 1,000
Minimum share capital of Ksh 30,000
Interest rate on deposit was 6% (2020)
Dividends on share capital wah 6% (2020)
Membership fee of Ksh 1,000
Minimum share capital of Ksh 30,000
Interest rate on deposit was 6% (2020)
Dividends on share capital wah 6% (2020)
7/ BANDARI SACCO
Minimum share capital of Ksh 10,500
Over 16,000 members
Monthly contribution of Ksh 1500
Dividends on share capital 22% (2019)
Interest on deposits 12.15% (2019)
Minimum share capital of Ksh 10,500
Over 16,000 members
Monthly contribution of Ksh 1500
Dividends on share capital 22% (2019)
Interest on deposits 12.15% (2019)
8/ NATION SACCO
Minimum monthly contribution is Ksh 2,000
Minimum share capital is Ksh 25,000
Interest on deposits was 8% (2020)
Dividends on share capital 15% (2020)
Minimum monthly contribution is Ksh 2,000
Minimum share capital is Ksh 25,000
Interest on deposits was 8% (2020)
Dividends on share capital 15% (2020)
9/ KIMISITU SACCO
Membership fee of Ksh 1,000
Minimum monthly contribution of Ksh 3,000
Members can borrow 3 times their savings.
Dividend on share capital was 15% (2020)
Interest on deposits was at 8% (2020)
Membership fee of Ksh 1,000
Minimum monthly contribution of Ksh 3,000
Members can borrow 3 times their savings.
Dividend on share capital was 15% (2020)
Interest on deposits was at 8% (2020)
10/ Kenya Bankers SACCO
Minimum share capital is Ksh 30,000
Minimum monthly savings is Ksh 3,000
Joining fee of Ksh 1,000
Interest rate on deposits of 6% (2020)
Dividend share capital 10% (2020)
Minimum share capital is Ksh 30,000
Minimum monthly savings is Ksh 3,000
Joining fee of Ksh 1,000
Interest rate on deposits of 6% (2020)
Dividend share capital 10% (2020)
11/ MHASIBU SACCO
Registration fee of Ksh 1,000
Minimum monthly contribution of Ksh 1600
Minimum share capital is Ksh 10,000
Interest on deposit was 8% (2020)
Dividends on share capital was 15% (2020)
Registration fee of Ksh 1,000
Minimum monthly contribution of Ksh 1600
Minimum share capital is Ksh 10,000
Interest on deposit was 8% (2020)
Dividends on share capital was 15% (2020)
Final notes:
The interest rate on deposits and share capital varies yearly depending on the performance of the SACCO.
There are 175+ SACCOs in Kenya regulated by SASRA
I only covered a few for the purpose of learning.
The interest rate on deposits and share capital varies yearly depending on the performance of the SACCO.
There are 175+ SACCOs in Kenya regulated by SASRA
I only covered a few for the purpose of learning.
There may be other better and bigger SACCOs than these.
It's advisable you join the same SACCO as your work mates, friends or relatives to easily get guarantors.
It's advisable you join the same SACCO as your work mates, friends or relatives to easily get guarantors.
P.S.
I published an e-book just for you.
It covers the basics of personal finance management and investing fundamentals.
It is your go to financial literacy e-book.
Get it in the link below, If you can't access it, DM
I published an e-book just for you.
It covers the basics of personal finance management and investing fundamentals.
It is your go to financial literacy e-book.
Get it in the link below, If you can't access it, DM
Here's the link.
If you can't access it via this link, DM https://gichukikahome.gumroad.com/l/kbngcy
If you can't access it via this link, DM https://gichukikahome.gumroad.com/l/kbngcy
If you found this thread useful:
1. Follow me @kahome_steve for more amazing threads.
2. Retweet the first tweet in this thread so that other people may see it.
3. Check out my other threads below. https://twitter.com/kahome_steve/status/1486258613035409408?s=20&t=M35DTg2X-aPXgOzL5i5v3Q
1. Follow me @kahome_steve for more amazing threads.
2. Retweet the first tweet in this thread so that other people may see it.
3. Check out my other threads below. https://twitter.com/kahome_steve/status/1486258613035409408?s=20&t=M35DTg2X-aPXgOzL5i5v3Q
