In its endeavor to realize its vision and mission, Jamii SACCO upholds the following core values: Integrity, Professionalism, Customer Focus, Teamwork, Innovation and ICT.

New Member Joining Requirements

Apply for a Loan.
School Fees Loan
Development Loan
 
M-Cash Loan
elder
 

What We Have Done Latest Video

Investment or Micro-credit

Recent Highlights News & Events

Asset Finance is a facility available to all SACCO members who may desire to acquire, develop and own assets/properties. The product is available to meet purchase of various assets as follows:

A) Motorcycle, Water
Tank, Posho Mill, Solar Panel, Water Pump and Generator among others:

The terms and conditions are:

  • Must be a member of the SACCO for a minimum of 3 months.                                                                                                         
  • Loan security is the Asset to be acquired.
  • Loan term is a maximum of 12 months.
  • Asset financed is 3.5 times of the Special savings (one must have special Savings)
  • Loan amount of up to Kshs.300,000 for motorbike, tuk tuk, posh mill, solar panel, generator etc.
  • Grace period is one month.
  • Repayment frequency is daily, weekly, fort-nightly or monthly.
  • Collateral discharge process requires member to apply for release of security from the SACCO upon clearing the loan.
  • The Asset must be fully insured to the term of the loan.

B) Motor Vehicles

Terms and conditions are:

  • Must be a member of the SACCO for a minimum of 3 months.
  • Loan security is the Asset to be acquired.

Loan term is:

  • Brand new Cars(1-7 years) – 48 months
  • Used Cars up to 7 years -36 months
  • Used Cars (8-10 years) -24 months.
  • Loan term is maximum of 180 months for salaried members and 120 months for non-salaried members.
  • The Sacco finances  up to 60% of the  forced value of the motor vehicle.
  • Loan amount of Kshs 4,000,000 as maximum.
  • Interest rate of 1.08% per month or 13 % per annum  on reducing balance.
  • The motor vehicle shall be jointly owned with the SACCO and comprehensively insured to term of the loan.
  • Repayment and collection will be done either through check off, standing order, pay bill or cash.
  • Grace period is one month.
  • Repayment frequency is daily, weekly, fort-nightly or monthly.
  • Collateral discharge process requires member to apply for release of security from the SACCO upon clearing the loan.
  • Valuation, tracking system and legal charge to be borne by the member.
  • Motor vehicle Insurance to be auto-renewed by the Sacco and members to pay the Sacco  the insurance premium loan in 12 equal monthly installments at the rate of 1.08% per month or  13% per annum on reducing balance.
  • Car track device to be installed by reputable service providers appointed by the Sacco and SLAs to be drawn and signed with clear terms and conditions.
  • Log Books to be used as collateral  to be regularly checked/ verified  with NTSA  and the insurers to confirm status by credit administration team.
  • The Sacco will finance specific motor vehicles that have resale value.
  • Matatus  and tractors  will not be financed  by the Sacco  except for the members  who have accessed similar loans and with good repayment history.

C) Mortgage (Land and Property):
The terms and conditions are:

  • Must be a member of the SACCO for a minimum of 3 months.
  • Member to acquire it for buying commercial & residential land( within municipalities & urban areas).
  • Loan term is maximum of 120 months.
  • Asset financed 5 times of Special savings.
  • Loan amount of up to a maximum of Kshs.10,000,000 for commercial land.
  • Financing will be 100% of the purchase price plus the processing fees & other incidental costs.
  • Land must have freehold title or a lease certificate with not less than 20 years before expiry.
  • Maximum loan of Kshs.6,000,000 for agricultural land & limit the collateral value to forced sale value.
  • Grace period is one month.
  • Interest rate of 1.08 % per month or 13 % per annum  on reducing balance.
  • Processing fee is 2% of the cost of the Asset.
  • Collateral discharge process requires member to apply for release of security from the SACCO upon clearing the loan.
  • Valuation and legal charges to be borne by the member.
  • Valuation and Charge to be conducted by SACCO appointed service providers.

Feedback Form

Joomla forms builder by JoomlaShine

Twitter Feeds

Jamii Sacco

Head Office: Jamii Sacco Court, Mukenia Road, South
‘B’ Next to Mater Hospital
Address: P.O. Box 57929 Nairobi 00200 Kenya
Tel: +254 (020) 552477/48 / +254 (020) 6552523
Mobile: +254715961545/ +254712852762
Email: info@jamiisacco.com

Website Visitors Counter

2105543
TodayToday1441
YesterdayYesterday1532
This_WeekThis_Week2742
This_MonthThis_Month4828
All_DaysAll_Days2105543
Copyright © 2024 Jamii Sacco. All Rights Reserved.
Joomla! is Free Software released under the GNU General Public License.