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SACCOs in Kenya.
What are some of the best SACCOs in Kenya?
How do they compare against one another?
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SACCOs in Kenya.
What are some of the best SACCOs in Kenya?
How do they compare against one another?
Let& #39;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">https://twitter.com/kahome_st...
- 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">https://twitter.com/kahome_st...
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& #39;s advisable you join the same SACCO as your work mates, friends or relatives to easily get guarantors.
It& #39;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& #39;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& #39;t access it, DM
Here& #39;s the link.
If you can& #39;t access it via this link, DM https://gichukikahome.gumroad.com/l/kbngcy ">https://gichukikahome.gumroad.com/l/kbngcy&...
If you can& #39;t access it via this link, DM https://gichukikahome.gumroad.com/l/kbngcy ">https://gichukikahome.gumroad.com/l/kbngcy&...
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