Bandari Sacco dividends range between 12% and 16% per year.With shares worth Ksh 100,000,you will earn Ksh 13,000 to Ksh 17,000 yearly. Below we provide important details you need to know about the Sacco:
The Sacco accommodates diverse membership categories, catering to different individuals and entities, including:
- Category 1: Salaried Members
- Category 2: Business Community Members
- Category 3: Corporate Members
- Category 5: Farmers
- Category 5: Special Membership
This inclusive approach ensures that Bandari Sacco serves the unique financial needs of a broad spectrum of individuals, making financial empowerment accessible to everyone.
This is your everyday collection and disbursement account through which all deposits are accumulated before transfers to Deposit and Share accounts respectively. The account bears ATM, Internet Banking, and USSD or Mobile banking, Paybill facilities and bears linkages that facilitate RTGS and is International Money Transfer enabled.
Benefits
- Interest earnings of < 0.4% against monthly account balances that are realized in the last month of the financial period.
- Pocket-friendly account management expenses – No ledger fees
These are monthly deposits that constitute active membership to a Sacco with the minimum currently pegged at Kshs.1, 500.00 per month or Kshs.50.00 per day. The deposits may however be withdrawn in cash upon cessation of membership and upon expiry of 60 days notice period.
Benefits
- Facility for granting of loans / advances on the principle of multiplicity as per Sacco loan policy.
- Interest earnings of < 12.15% realized at the end of every financial period and as approved by the annual delegates conference.
With each share, you are not just building wealth; you are also building bridges to a brighter future.
Once you become a member of Bandari Sacco, it is required that you purchase shares of at least Ksh 10,500. These shares are non-redeemable but transferable to a willing buyer.
Benefits
- The shares have a guaranteed return of < Kshs. 18% p.a as approved by the annual delegates conference.
Who is Eligible to join Bandari Sacco?
Bandari Sacco has been welcoming members from all walks of life since we opened our Common Bond in 2005. The Sacco accommodates diverse membership categories, catering to different individuals and entities, including:
- Category 1: Salaried Members
- Category 2: Business Community Members
- Category 3: Corporate Members
- Category 5: Farmers
- Category 5: Special Membership
This inclusive approach ensures that Bandari Sacco serves the unique financial needs of a broad spectrum of individuals, making financial empowerment accessible to everyone.
Landlords Account
What sets us apart?
• Access exclusive loans against your deposits for property repairs and the expansion of your real estate portfolio.
• Dive into the world of real estate with our networking events, exposing you to lucrative investment opportunities and industry insights.
Unlock the power of financial growth with a minimal opening balance of Ksh. 5,000.
• Enjoy a stress-free and convenient avenue for rent collection, powered by our M-pesa pay bill No. 146320.
Personal Savings Account
Watch your savings grow effortlessly with our Personal Savings Account, an interest-earning powerhouse that offers competitive rates, ensuring your money works for you.
Take control of your finances by setting up free-standing orders directly to your Personal Savings Account.
Experience banking convenience with our VISA ATM card, giving you 24/7 access to your funds. Make withdrawals, check balances, and shop securely at your favorite outlets.
Enjoy the flexibility of starting your savings journey with a minimum account opening balance of just Ksh 1000!
Dau Junior Account
Our DAU Junior Account is tailored for your child’s educational needs. With quarterly withdrawals designed to be flexible for school fees payments.
Enjoy exclusive benefits like a free ticket to the annual Bandari Sacco DAU Junior party – a celebration of financial literacy and fun for our young savers.
Watch your child’s savings grow with a minimum interest-earning balance of just Kes. 2000.
Plus, a special birthday cake on your child’s special day, making their birthday extra memorable.
Staafu Savings Account
Enhance your financial security by utilizing fixed deposits in your Staafu Account as collateral for other FOSA loans.
Leverage your savings to access additional funds when needed, giving you the freedom to explore new opportunities or cover unexpected expenses.
Tailor your retirement savings plan to your comfort with our flexible monthly contribution options. Adapt your savings strategy to align with your lifestyle and financial goals, providing you with control over your Staafu Savings Account.
Diaspora Account
This account also offers cost-effective loan facilities for development, travel, and holidays. All savings and credit terms that apply to local members are extended to our diaspora members.
Kijana Account
As a Kijana Account holder, you gain access to invaluable mentorship, financial and business management guidance – all provided for free.
Holiday Savings Account
Benefit from our extensive network of tour agents for seamless holiday facilitation. Get access to exciting travel packages, exclusive deals, and personalized assistance in planning your dream vacation.
Choose your preferred savings method – standing order, check-off system, or direct deposits – and experience a hassle-free journey to your dream holiday.
Embark on a journey to your dream holiday with a manageable monthly contribution of Ksh. 2000, for a minimum of 12 months
Unlock the door to unforgettable vacations with Bandari Sacco’s Holiday Savings Account. Start saving, start traveling, and make every holiday a memory worth cherishing!
Bima (Insurance) Account
Members can save effortlessly on a monthly basis through standing orders facilitated by our FOSA, ensuring seamless and consistent contribution towards your insurance coverage.
Our Bima Account is interest-bearing, allowing you to earn returns on your contributions. Enjoy the peace of mind that comes with timely settlement, ensuring continuous and uninterrupted protection for your valued assets.
Fixed Deposit Account
Enjoy the flexibility of renewing your fixed deposit upon maturity, ensuring your savings continue to work for you.
Choose a renewal period that aligns with your evolving financial objectives. Use your fixed deposit as security for loans and advances, unlocking additional financial opportunities. Leverage your savings to meet your diverse financial needs with confidence.
Maximize your savings with Bandari Sacco’s fixed deposit account, offering attractive returns and negotiable interest rates ranging from 5% to 10%. Watch your money thrive with rates tailored to meet your financial goals.
Biashara Club Savings and Loans
Benefit from personalized appraisal and capacity evaluation, ensuring that you receive financial support tailored to your unique business needs.
Experience the convenience of a one-stop shop for all your financial needs. From LPO financing to cheque payments and market linkages, the Biashara Club provides a comprehensive suite of services to fuel your business growth.
Join our education and business symposiums for networking and skills acquisition. Engage with industry experts, fellow entrepreneurs, and gain insights to propel your business to new heights.
Chama Club Savings and Loans (welfare group savings and credit facility)
Your invested savings, deposits, and share capital earn competitive interest, paving the way for financial prosperity.
When seeking a loan, present your vision through a business plan and group meeting minutes. Join us in building a strong financial future together!
Mombasa Office
Bandari Sacco Building, Moi Avenue
P.O. BOX 95011-80104,
Mombasa – Kenya.
Phone: (+254)-724-002525
Email: info@bandarisacco.co.ke
Nairobi Office
KPA Inland Container Depot,
Embakasi off Mombasa road,
Nairobi – Kenya.
Phone: (+254)-700-192355
Email : info@bandarisacco.co.ke
Kisumu Office
Swan Centre Building,
Kisumu.
Phone: (+254) 114 927 495
Email: info@bandarisacco.co.ke
Bandari DT Sacco
Phone:+254 724 002 525
Email:info@bandarisacco.co.ke
Working Hours:Mon – Fri: 9am – 4pm Sat: 9am – 12pm
Location:Bandari Sacco Building, Moi Avenue, Mombasa
- Be 18 years and above
- Present your National ID/Military ID and passport colored Passport photograph.
• Fully completed loan application form
• Guarantors (depends on loan type).
• Employee’s pay slips (past 3 months).
• A copy of National ID.
• Proof of active membership for at least six months
Asset Finance
- As a fully paid-up member, you can leverage your saved and contributed deposits over a minimum of six months to secure financing for assets like land, motor vehicles, and machinery.
- Demonstrate your commitment by raising 30% of the total purchase price, and enjoy repayment terms tailored to your needs.
- For movable assets, the repayment period spans 60 months based on the asset’s useful life, while immovable assets come with a generous 120-month term.
- With a maximum loan amount of Kshs 30 million, this product is designed to fuel your dreams without compromise.
- Our straightforward application process ensures that the loan is paid directly to the vendor upon the full perfection of the sought asset.
- Primary loan appraisal and security are based on your salary or verifiable source of income, putting your financial stability at the forefront.
- All costs related to this product are borne by the borrower, securing a transparent and accountable transaction.
- Your purchased asset serves as security for the granted loan. Payment is hassle-free, with options like check-off for salaried individuals, rental income, or direct debits.
Mortgage Financing
- Embark on your journey to home ownership with Bandari Sacco’s Mortgage Financing. This long-term product is tailored to support our members in acquiring ready-made houses or constructing their dream homes for residential purposes.
- With a commitment of at least six months of consistent contributions and full compliance with Sacco by-laws, you can unlock the door to your ideal home.
- The value of the house should exceed the purchase price, and the Sacco will fully finance it. Enjoy a comfortable repayment period of 120 monthly instalments, extending to the retirement age of 70 years.
- Your dreams are within reach, with a maximum loan amount of up to Kenya Shillings 15 Million. For ready-made houses, the loan amount is paid directly to the vendor upon the full perfection of the asset.
- If you opt for self-construction, disbursements occur in three phases: 40% for Phase 1, 30% for Phase 2, and 30% for Phase 3, as per the certificate of completion.
- Choose a payment method that suits you, with options like Check-off for salaried individuals, rental income, or Direct Debits.
- Our stringent appraisal process is pegged to your ability to repay, ensuring a personalized and sustainable financial plan based on your salary or other verifiable sources of income.
- All costs associated with this product are transparently borne by the borrower. The asset you purchase serves as security for the loan granted.
Jipange Loan
- Empower your new beginnings with Bandari Sacco’s Jipange Loan – designed exclusively for new employees from reputable institutions upon confirmation of employment. Seize the opportunity to shape your financial future with our tailored product features.
- To qualify, a member must meet specific criteria, including the submission of an introduction letter and employment letter from the employer.
- The loan amount is determined based on your ability to pay, ensuring a personalized financial solution.
Welfare/Chama Loan
- Bandari Sacco’s Chama Loan is a financial solution designed for welfare and registered groups embarking on income-generating projects that align with our approved criteria.
- To qualify, present a well-furnished business plan to the society, ensuring your group is registered with the relevant authority.
- Maintain a membership of 10 or more individuals and consistently deposit with the Sacco until the loans are cleared.
- Your group’s constitution should align with Bandari Sacco’s rules and regulations, setting the foundation for a strong financial partnership.
- The group’s commitment to financial discipline is rewarded with the opportunity to save for at least 6 months, granting eligibility for a loan amount of up to three times their deposits.
- Benefit from a competitive interest rate on a reducing balance , ensuring a manageable repayment plan of a maximum period of 48 months.
- The property being financed serves as security, and loan disbursement occurs after full perfection of the property.
BOSA-Jahazi Loan
Jahazi Loan is a long-term development loan strategically designed to empower members to undertake impactful projects and increase their monthly net take-home pay.
To qualify for the Jahazi Loan, members need a multiplier of more than 3 times their non-withdrawable deposit.
Enjoy the flexibility of a maximum loan amount of up to Ksh. 30M, tailored to your ability to repay. With a generous maximum repayment period of 120 months, this loan offers a sustainable and manageable financial solution.
Refinancing is allowed when the loan is halfway paid, ensuring stability throughout the repayment process. Members may be required to provide additional collateral to secure the loan, ensuring a secure and reliable financial arrangement.
The loan is recovered through the check-off system, streamlining the repayment process for your convenience. To qualify, applicants must be fully paid-up members who have consistently saved and contributed deposits for at least six months, aligning with our credit policy.
Trust Bandari Sacco to fully guarantee your loan, providing you with the assurance you need to pursue your development projects.
M-Hela
M-Hela is a one-off one-month loan product delivered conveniently through your mobile phone.
Designed for both salaried and non-salaried individuals with a consistent income, M-Hela is here to complement the traditional one-month advance.
Explore the features that make this product a game-changer for your financial needs.
To qualify, members must have a minimum share capital of Ksh. 500, an active ordinary savings account, and non-withdrawable deposits of at least Ksh. 1500.
Maintaining a clean financial record is essential, as applicants should not be defaulters of any outstanding loan and should not be listed with CRB for loan defaults.
Enjoy the flexibility to apply multiple times, as long as the previous loan is paid up in full. M-Hela offers transparent pricing with an upfront interest rate of 10% p.m. The outstanding amount incurs an additional interest of 10% p.m.
For non-salaried members, the recommended amount is up to 75% of the average net savings for the last 3 months, subject to other running monthly deductions.
The initial maximum recommended amount per application is capped at Kshs. 5000, with the maximum advance subject to account activity.
Salaried members can access funds up to 75% of the average net salary for the last 3 months, subject to other running monthly deductions. The recommended amount is flexible, aligning with your ability to pay.
Seize the opportunity to enhance your financial well-being with Bandari Sacco’s M-Hela. Dial *636# now or download the BandariPesa App from the Play Store to experience the convenience of accessible and affordable mobile loans. Your financial empowerment is just a click away!”
Diaspora Account
The Diaspora Account offers seamless and efficient management of diaspora remittances. Invested deposits, and share capital attract handsome interest and dividend returns of 12% and 18% respectively.
This account also offers cost-effective loan facilities for development, travel, and holidays. All savings and credit terms that apply to local members are extended to our diaspora members.
Kijana Account
This account is designed to cater to the unique needs of youthful members transitioning from the Dau Junior account to the Personal savings account, providing a stepping stone towards financial independence.
As a Kijana Account holder, you gain access to invaluable mentorship, financial and business management guidance – all provided for free.
FOSA One Month Advance
The one-month advance is your express ticket to immediate financial relief. With a commitment to efficiency and your financial well-being, our one-month advance is designed to cater to your short-term needs with unparalleled speed and convenience. The advance is designed for salaried members and can be accessed through BandariPesa App and USSD code *636#.
The advance comes with a competitive interest rate of 10% per month, is secured by the applicant’s net salary, and is accessible to all Sacco members.
FOSA 3-6 Months Advance
Bandari Sacco’s 3-6 Month Advances are meticulously designed to cater to your mid-term needs. Experience swift approvals, competitive interest rates of 1.16% per month, and a unique guarantee structure of the applicant’s own or friends’ non-withdrawable deposits.
The loan limit is pegged on one’s ability to repay.
FOSA Advance 12 Months
Elevate your financial journey with FOSA 12 months advance, tailored to meet your long-term needs.
It offers a generous loan limit based on one’s ability to pay, swift approval, flexible loan recovery, and guaranteed non-withdrawable deposits.
FOSA Development
Fuel your growth with the FOSA Development Loans. This loan is approved within 24 hours with a maximum payable amount pegged on the ability to pay with a repayment period not exceeding 24 months.
A top-up loan is granted after 12 months. It is guaranteed by non-withdrawable deposits.
FOSA Special
Discover financial empowerment like never before with Bandari Sacco’s FOSA Special.
Tailored to meet your unique needs, this special offering comes with swift approvals, a repayment period of up to 48 months, with a top-up granted after two years, and the assurance of non-withdrawable deposits as a guarantee.
FOSA Consumer Loan
Discover financial empowerment like never before with Bandari Sacco’s FOSA Special.
Tailored to meet your unique needs, this special offering comes with swift approvals, a repayment period of up to 48 months, with a top-up granted after two years, and the assurance of non-withdrawable deposits as a guarantee.
LPO Financing
LPO financing is available to members who have valid business registration and permit documents.
There must also be a valid purchase order from reputable entities such as government, ministries, parastatals and well-established companies, NGOs, or Bandari Sacco’s list of approved corporate partners.
A member must also provide a pro forma invoice or quotation from the supplier, showcasing the details of the items to be purchased and a proven track record of completed past contracts.
The interest rate is set at 10% with the Sacco financing up to 60% of the LPO amount. There is proposed collateral for borrowings above one million shillings and a valuation report and audited accounts for amounts exceeding five million shillings.
Paybill: 146320
