Magereza Sacco Society Ltd.

This is the core Sacco function that enables members to save and be able to access credit facilities. We encourage our members to save for the future. Adherence to the 1/3 government basic salary rule applies to all loan products. A member can only qualify for one loan product at a time. All loans are disbursed through the members' FOSA accounts. The following are our Bosa products and services:

Super Loan

  • Minimum loan amount is Ksh.300,000         
  • Maximum repayment period is 60 months
  • Interest rate is 1.17% pm on amortization
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Supersaver Loan

  • Granted at four times the member's deposit
  • Applies to members with deposits 200,000/- and above
  • Maximum repayment period is 48 months
  • Interest rate is 1% p.m on reducing balance
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Normal loan

  • Granted at three times the member's deposit
  • Maximum repayment period is 36 months
  • Interest rate is 1% p.m on reducing balance
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Msingi Loan

  • Granted for newly recruited members
  • Maximum repayment period is 48 months
  • Payable interest of 1% p.m on reducing balance
  • Processing fee of Ksh.500 is applicable
  • Loan is granted once in membership life
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Branch Loans

  • It caters for emergency needs
  • Maximum repayment period is 18 months
  • Interest rate is 1% p.m on reducing balance
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Express Loan

  • Tailored for members with urgent financial needs
  • Maximum processing period is 2 days
  • Interest rate is 1% p.m on reducing balance
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Benevolent Fund

  • The Society operates a sinking fund account which was formed with the view to assist the Sacco write off unpaid loans as a result of members death and assisting the next of kin with immediate support after the loss. Monthly contribution is 200/=

 

 

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Address

Address :

Mageso Chambers, Moi Avenue, Nairobi.

P.O Box 53131 - 00200

Phone :

(20) 2244138

Mobile:

0716 315 155

0718 224 956