FOSA Products

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FOSA Loan Products

Shirika Sacco Society has a wide range of loan products. These products are tailored to meet various needs of a diversified membership with each member’s unique needs being catered for in this array of products. These are loan products offered at the Front Office Service Activity (FOSA) for members who are banking with the sacco.

Instant Loans

  • A minimum of Kshs.2,500 must be left in the account after deductions.
  • Repayment Period is 3 Months.
  • Interest charged will be 10% per month on reducing balance.

Super Instant Loans

  • A minimum of Kshs.2,500 must be left in the account after deductions.
  • Repayment Period is 6 Months.
  • Interest charged will be 10% per month on reducing balance.

Debooster Loans

  • For newly recruited members which must be their first loan.
  • 50% of the loan can be used to boost the deposit at a commission of 5%.
  • Maximum loan is Kshs. 500,000.

Business Loans

  • Member must have saved atleast for 6 months in the biashara savings account.
  • Collaterals can be used to guarantee the loan.
  • Maximum loan is Kshs. 500,000.
  • Repayment Period is 2 years.
  • Interest charged will be 1.5% per month on reducing balance.

Asset Based Loans

  • Vehicles should be less than 10 years old.
  • Collaterals: - Vehicles 60% of the value - Land 80% of the value.
  • Maximum loan is Kshs. 2,000,000.
  • Repayment Period is 5 years.
  • Interest charged will be 1.5% per month on reducing balance.

Savings Products

Shirika Sacco Society has a wide range of savings products. These products are tailored to meet various needs of a diversified membership with each member’s unique needs being catered for in this array of products and services.

Each savings product has specific features that define it and being a member driven institution, all the savings products earn the member some sort of return. Each of the savings products has a specific purpose and therefore the savings products are broadly categorized as withdrawable and non-withdrawable.

Savings Account

  • Minimum opening balance of Ksh 500.
  • Minimum interest earning balance is Kshs. 4,000 and is calculated quarterly.
  • Withdrawals are on a quartely basis.

Personal Account

  • This is a voluntary contributory savings where members save for a specific purpose and can withdraw.
  • Minimum savings of Kshs. 500.
  • Maintenance of Kshs. 2,500 in the account for the whole year attracts an interest of 5%.

Shirika Junior Account

  • Withdrawals are on a quartely basis.
  • Attractive gifts offered annually.
  • Interest earning balance is Kshs. 4,000.
  • Should attach copy of birth certificate.

Fixed Deposit Account

  • Minimum savings of Kshs. 5,000.
  • Interest is determined from time to time depending on the negotiation rate.

Masomo Account

  • Minimum savings of Kshs. 1,500.
  • Withdrawable three time in a year.
  • Minimum interest earning balance of Kshs. 4,000.
  • Three free bankers cheque.

Safari Account

  • Minimum savings of Kshs. 1,000.
  • Withdrawable once a year.
  • Attractive tours and travel packages will be offered.
  • Minimum interest earning balance of Kshs. 4,000.

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Shirika Sacco Society LTD was registered on 24th April 1969 by the founding members of the Ministry of Industrialization and Enterprise Development Department. Main Office | SHIRIKA COOP HOUSE, Kipande/Ngara Rd | P.O. BOX 43429 - 00100, Nairobi | Tel: 0724610715, 0734897817 Email: info@shirikasacco.co.ke, shirikasaccosociety@gmail.com © 2016 Shirika Sacco Society LTD. All Rights Reserved. Designed & Developed by Adzumi.