Below are important details about Jamii Sacco Kenya, which include how to join the Sacco,who to join the Sacco,how to pay your loan through Mpesa,list of loans,savings products and customer care contacts.
- Any person can join Jamii Sacco from all the segments of the market including:
- Public Service employees.
- Other Government Ministries and Parastatals
- Employees of Jamii Sacco Society
- Government Institutions/Parastatals such as Kenya National Library Services, WEF
- Employees in Private Companies and NGO’s
- Self –Employed Individuals
- Self-Help Registered Groups and Community Based Organizations.
Fill in membership forms that can either be downloaded from Jamii Sacco website or can be obtained from the offices or from the delegates at every county.
- Attach a Copy of the National Identity Card and a passport size photograph.
- Entrance fee Kshs. 1,000
- Minimum Monthly Contributions currently Kshs. 3300 and Kshs. 300 being Jamii Benevolent Fund Monthly.
- Minimum Share Capital of Kshs. 20,000 .
- Proper Identification documents ( National ID card or Passport)
- Passport size photo to be taken upon opening of the Account
- Opening Balance of Kshs 1,000
- Through Check off system –deduction by the employer.
- Bank Standing Order
- Cash Payment through the FOSA or Society’s Bank Account at Co-operative Bank of Kenya.
- M-Pesa Pay bill number 532200
Paybill: 532200
- Go to Mpesa
- Select Lipa Na Mpesa
- Select Paybill
- Enter Business Number: 532200
- Enter Account Number(Jamii Sacco account number to send money to)
- Enter Amount
- Enter Mpesa pin and send
products-services
| Jamii Sacco Court | P.O.Box 57929 – 00200, Nairobi |
| Mukenia Road, South ‘B’ | Phone 0207903200 / 0207903200 |
| Next to Mater Hospital | Mobile: 0207903200/ +254715961545/ +254712852762 |
| Email: info@jamiisacco.com |
JAMII SACCO DEPARTMENTS MOBILE TELEPHONE CONTACTS.
We wish to remind you of the Departmental mobile numbers as provided in the following table to enable us serve members better (promptly, effectively and efficiently).
| Departments | Mobile Numbers |
| General Lines | 0207903200/ 0712-852762/0736-613863/0715-961545/020-6552448/77 |
| Marketing Department | 0207903200/ 0704-914143/0718-006820 |
| Loans Department | 0207903200/ 0705-413446 |
| Registry Department | 0207903200/ 0704-282099 |
| IT Department | 0207903200/ 0704-911087 |
| FOSA Department | 0207903200/ 0714-988982 |
| Credit Department | 0207903200/ 0712-788301 |
| Audit Department | 0207903200/ 0712-042954 |
| Risk Department | 0207903200/ 0722-254747 |
| Micro- Credit Department | 0207903200/ 0795-059471/0712-788235 |
| Jamii Housing | 0207903200/ 0707-455647 |
| Accounts Department | 0207903200/ 0712-788251 |
| Procurement Department | 0207903200/ 020-2633331 |
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
Sawa Savings Account
This Account is ran as a savings and withdrawal account with salaries and loans being processed through it.
Main Features of the Account:
- Minimum operating balance of Ksh. 1,000.00 which you can build slowly by slowly.
- Interest earning balance is Kshs. 1,000.00
- Deposits and withdrawal open 24/7. This can be done over the counter (Teller), Through ATMs OR Mobile Banking.
- This is a facility for payments of all loans, salaries, refund and dividends.
- To qualify for Fosa loan you must operate this account.
Requirements
- Proper Identification documents ( National ID card or Passport)
- Passport size photo to be taken upon opening of the Account
- Opening Balance 1,000/-
Jamii junior savings account
As the name suggests it is an account for our children and grand children
Features
- Minimum opening balance Kshs. 500/-
- Minimum monthly savings Ksh. 200/-
- Interest earning balance Kshs.5,000/-
- 3 withdrawal per year
- Home saving braded piggy bank on Account opening
- Account to be operated by parent/guardian for the child upto 18 years
- No ledger fees on this account
- Child’s Birth Certificate Required
Requirements
- A copy of the child’s birth certificate
- The Parents/Guardian Identication card or Passport
- Passport size photo of the Parent/Guardian to be taken upon opening of the Account
- One recent Passport size Photograph of the Child
Golden savings account
It is advisable to open and start operating this account early enough so as to enjoy your sunset years. This account can be accessed immediately after retirement.
Features
- Minimum operating balance Kshs. 500/-
- Minimum monthly savings Ksh. 200/-
- Interest earning balance Kshs. 5,000/-
- Savings are withdrawable after 3 years of deposits and or upon resignation from service or attaining mandatory retirement age.
- Savings can be pledged as security for Sacco loans
Requirements
- Proper Identification documents ( National ID card or Passport)
- Passport size photo to be taken upon opening of the Account
- Opening Balance 500/-
Special Deposit Account
Main Features of the Account:
- Minimum balance of Ksh 20,000.
- Tiered interest rates
- You can receive your interest monthly, quarterly, bi-annually, or annually.
- Your money will be invested for you during the fixed deposit period
- Facility for collateral on borrowing – this account acts as a security on acquisation of a sacco loan.
Requirements
- Proper Identification documents ( National ID card or Passport)
- Passport size photo to be taken upon opening of the Account
Holiday savings account
This account is designed to help you achieve your Holiday dreams.If you want to visit Dubai,Zanzibar or any local holiday destination, open this account.
Features
- Minimum operating balance Kshs. 500/-
- Minimum monthly savings Ksh. 200/-
- Interest earning balance Kshs.3,000/-
- Withdrawals once in a year
Requirements
- Proper Identification documents ( National ID card or Passport)
- Passport size photo to be taken upon opening of the Account
JAMII HOUSING CO-OPERATIVE SOCIETY LIMITED
What is Jamii Housing Society?
What are the requirements for joining the Jamii Housing Society?
- Must be a member of the Sacco
- Must be above 18 years of age
- Entrance fee of Kshs 2,000/= paid once.
- Attach copy of National ID card.
What are the sources of Fund for the Housing Society?
Housing Society has two sources of funds:
For the Sacco to establish a capital base, every member will be required to contribute non –withdrawable shares of Kshs 20,000 or 200 shares of Kshs 100 each. Members should accumulate shares within six months.
What Activities and Programs will be undertaken through the Housing Society?
The members of the housing society together with the interim committee will work together to identify land to be purchased within Kenya. When land has been identified, interested members will be advised to contribute towards the purchase of the same. You may pay in cash or borrow a loan from Jamii Sacco society or any other source.
What are the benefits of joining the Housing Society?
- Easy acquisition of plots/ land through the Housing Society.
- Easy access to loans to develop the purchased plots.
- Easy processing of individual titles of ownership.
- A member may choose to sell his plot / land for a higher gain.
How do you withdraw for housing Society?
A member may withdraw from the Housing Society subject to the following conditions;
- Clearance of any Housing Society liabilities.
- Giving the Housing society 60 days notice.
At this point a member may transfer shares to an existing member or next of kin.
Interested members are invited to register and join the co-operative society to benefit from acquisition and development of property
For more information contact: Chief Executive Officer’s Office and the Marketing Office
Phone: 020- 552448/552477
Mobile No: 0704-914143/0736-613863
This is a unit of ownership of the SACCO and members earn dividends on the same annually when declared. The Share Capital is not withdrawable but can be sold or transferred to an existing member upon one’s withdrawal from the SACCO. The minimum share capital is Kshs.20, 000.00 or 1000 shares of Kshs.20.00 each.
Reasons why a member should have a Share Capital account:
- To drive the SACCO business.
- To meet the SASRA requirements that is the Institutional Capital.
- It’s a long term investment with annual return.
Members who have not attained this new minimum threshold should strive to do so at the earliest opportunity through the following means:
- Mpesa PayBill.
- Standing Order.
- Cash Payment to the society.
- Check-off System
- Deduction of approved loans.
This product finances full insurance premium for motor vehicle where members take comprehensive insurance cover with an identified insurance company namely: Co-operative Insurance Company (CIC), Madison Insurance or Direct line depending on the type of cover or any other approved insurance underwriter. The features are as follows:
- Facility available to members of Jamii SACCO and operating a FOSA accounts.
- 12 months repayment period.
- Granted at 10% of member deposit.
- Granted based on the member’s ability to pay.
- Interest rate of 13.5% on reducing balance.
- One month grace period.
Digital Loans
TERMS AND CONDITONS OF MOBILE BANKING FACILITY.
The loan is applied and granted through mobile phone and the terms and conditions are as follows:
Member must subscribe/register to the Sacco M-banking services (Fill Jamii M-Cash Form).
A member must attain the minimum share capital of Ksh. 10,000.
Considers a member up to 80% of the member deposits but up to a maximum of Ksh. 50,00 A member can qualify to borrow up to Ksh. 5,000 without graduation subject to attaining the above conditions.
A member eligible to borrow more than Ksh. 5,000 will be subjected to a graduation factor of 1.5 conducted once in 30 days.
The interest rate per month will be 5.3% for I month, 6.3% for 2 months, 7.3% for 3 months, 8.3% for 4 Months and 9.3% for 5 months charged on the principal loan one off. The interest will be accrued and not recovered upfront.
Repayment can either be done using either USSD (Dial *879#/*806#), Jamii M-cash App or Paybill number532200. Dial *879# or *806#, then choose in the menu the product type you want to access loan, or deposit and if using Paybill 532200 then keying the account number-ID NUMBER OR MEMBERSHIP NUMBER THEN THE PRODUCT CODE.
Some of the charges that apply for the above services are:
Account Balance Inquiry – Kshs. 10.
Mini Statement – Kshs. 10.
Cash withdrawal – Kshs. 50 upto a maximum of Kshs. 70,000 per transaction.
NOTE:
M/s Safaricom Limited Charges an average of Kshs. 5 in Airtime for every USSD Session.
Asset Finance Loans
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.
Short Term Loan
Jamii Emergency loan
This loan is granted to meet member emergency needs within the shortest time possible.The waiting period not being more than 24 hours.
Basic Requirement
- One must be a member of Jamii Sacco.
- One must have contributed for at least 6 months.
- Interest rate is 1% per month or 12% per annum on reducing balance.
- A duly Completed loans application form.
- Original current pay slips for three months.
- A copy of the members national identity card.
- One third (1/3) rule is applicable.
- One must have one emergency loan at a time.
- Loan must be guaranteed.
Benefits:
- Granted 3 times the member total deposits.
- Payable in 24 months.
Long Term Loans
Asset Finance Loans
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.
Jamii Normal Loan
This Loan is granted three times of the member’s total deposits is repayable in 48 months.
Basic Requirement
- One must be a member of Jamii Sacco.
- One must have contributed for at least 6 months.
- Interest rate is 1% per month or 12 % per annum on reducing balance.
- A duly Completed loans application form.
- Original current pay slips for three months.
- A copy of the members national identity card.
- One third (1/3) rule is applicable.
- Loan must be guaranteed.
Benefits:
- Quick processing and disbursement
- Payment period is 48 months
- Adjudicated once a month
Jamii Project Loan
The new re-engineered Project Loan has the following features:
- Loan granted four (4) times of member total deposits.
- Interest rate is 1.17% per month or 14% per annum on reducing balance.
- Maximum repayment period 30 months.
- Maximum loan of Kshs.1,000,000.00.
- Available to payroll based members only.
- Loan must be fully guaranteed.
- Remittances from employer MUST be up to date.
- Available to members with existing long term loans or Top Up loans and performing.
- Recovery within 1/3 rule of the basic salary.
- Loan attracts 1.5% of the approved amount.
Jamii Mustaafu Loan
This is a facility for retirees and it has the following features:
- Available to retiree members only
- The member must be a FOSA Account holder.
- The member MUST channel their monthly pension through FOSA/ Member provide evidence of ability to pay.
- A copy of the retirement letter and an official form electing the Jamii SACCO FOSA as the pension pay-point should be attached.
- Maximum repayment period is 36 months.
- Ability is computed based on 1/3 rule on member’s net pension.
- Loans must be fully guaranteed by Deposits or Golden savings account.
- For self guaranteed loans the loan will be issued 80% of free deposits.
Jamii Jiinue Loan
This is a Top-Up loan granted to members with existing project and/or Normal loans and the features are as follows:
- Granted 5 times a member’s total deposits.
- Repayment period is a maximum of 96 months for members in the public service and 84 months for other members.
- Interest rate is 1.17% per month or 14 % per annum on reducing balance.
- Maximum limit of Kshs. 6,000, 000.00.
- Available to all members .
- Must be secured by guarantors and/or collaterals.
Micro Credits Loans
This product is geared towards supporting small scale entrepreneurs to improve their income generating activities.
Basic Requirement
- Must be a member of Jamii Sacco with minimum savings of Kshs. 3,400 for a period of 8 weeks.
- Registration fees Kshs.300 per member.
- Minimum voluntary savings Kshs. 200 per week or 800 per month.
- Must be willing to abide by Jamii Sacco lending policies, rules and regulations.
- Must provide adequate security for the loan/fully guaranteed by group members.
- Must be a member of a registered self help group operating an account with Jamii Sacco.
- Must provide current 6 months business record book.
- Granted three(3) times a member’s Micro Credit savings.
- Granted up to a maximum of Kshs. 3,000,000
- Interest rate of 14.5% per annum or 1.21% per month on reducing balance.
- 2.5 % appraisal fee is applicable.
- Maximum repayment period is 30 months.
- Copies of Business documents such as certificate of registration ,KRA PIN and business assessment report/audited report must be provided.
- To be cleared at 8% after 60% payment of the previous loan.
- The loan can be cleared after 12 months/ 1 year consistent repayment without default.
Benefits:
- Loans between Kshs. 10,000 (min) and Kshs. 2,000,000(max) will be made available to individual members in the Micro-credit Program to assist them start or expand own micro-enterprises.
- Loans are granted 3 times of a member micro/Biashara savings.
Jamii Chama Emergency Loan
This product is geared towards supporting group members to meet Emergency and School fees needs
Basic Requirement
- Must be a member of a registered self help group operating an account with Jamii Sacco..
- Granted two(2) times a member’s Micro Credit savings.
- Granted up to a maximum of Kshs. 50,000
- Interest rate of 15.5% per annum or 1.29% pm on reducing balance.
- 2.5% appraisal fee.
- Maximum repayment period is 12 months.
- Copies of Business documents such as certificate of registration ,KRA PIN and business assessment report/audited report must be provided
Jamii Mshahara Loan
Fosa loans are available to members whose salaries are channeled through fosa account.
Features
- Granted up to 90% of the past net salary
- Repayment period is one month
- Interest rate is 10% recoverable upfront
- Granted within a day
- Salary is the security/No guarantor is required.
Three Months Advance
The three (3) months advance is a seasonal product granted to members and is recoverable from the interest rebate/dividend when declared and payed.
Features:
- Available to all SACCO members with FOSA Accounts.
- A member to complete an application form and attach a copy of National ID card.
- Processed within 48 hours.
