Below are important details you need to know about Kingdom Sacco.The Sacco pays dividends 13%-16% per year.The Paybill number for the Sacco is 521000
Kingdom Sacco offers the following savings solutions:
- Monthly Non-withdrawable Deposits.
- Mustard Junior Account
Monthly non-withdrawable deposits
This is a non withdrawable account where members deposits are accumulated through monthly savings. The deposits may be used as collateral for various loan products offered by the society. The deposits are only refundable when a member terminates his membership with the SACCO. The minimum monthly contribution is Ksh 1,000
Mustard Junior Account
This is an account for young savers and is intended to promote a savings culture among children and youth below 14 years. The account holder will get a “Piggy Bank”. This account is opened and managed by the parent on behalf of the Child. Cash withdrawals are limited to once in 3 months. the account earns attractive interest rate on deposit
Account Opening Requirements
To qualify for a savings account in the Sacco you need to be a shareholder. Our minimum shareholding is 300 shares of Ksh 20 each making it a total of Ksh 6,000. This amount is not required during account opening. Some of the common requirements while opening a savings account include:
- A duly completed registration form.
- A copy of the National ID.
- A copy of your KRA PIN. (Optional)
- Payment of a non refundable registration fee of Ksh 550.
BOSA Individual Requirements
- Duly completed Nominee Form.
- Fully paid up share capital of 300 shares of Ksh.20 each amounting to Ksh.6,000. Share capital can be paid at once or in installments.
- Minimum monthly contribution of Ksh.1,000.
BOSA Corporate Requirements
- Copies of IDs for the Director’s/ Proprietor’s
- Copies of KRA Pin’s for the Director’s/ Proprietor’s
- Copy of business registration certificate
- Copy of business KRA pin
- Resolutions/minutes authorizing opening of the account
- Copy of Memorandum and Articles of Association/Partnership Deed
- Pay non-refundable registration fee of Ksh.1,100
- Minimum monthly contribution of Ksh.2,000.
- Fully paid up share capital of 300 shares of Ksh.20 each amounting to Ksh.6, 000.Share capital can be paid at once or in installments.
BOSA Chama/CBO Requirements
- Duly completed registration form
- One (1) passport size photographs for each office bearer
- Copies of IDs for the office bearer
- Copy of the registration certificate
- Resolutions/minutes authorizing opening of the account with clear operating instructions
- Copy of the Constitution signed by the officials and stamped
- Account opening letter from the relevant Government Ministry
- Provide a list of all members of the group, their telephone numbers and ID numbers
- Pay non-refundable registration fee of Ksh.1,100
- Minimum monthly contribution of Ksh.2,000.
- Fully paid up share capital of 300 shares of Ksh.20 each amounting to Ksh.6,000.Share capital can be paid at once or in installments.
Mustard Junior Account Requirements
- Completed accounts opening form
- Copies of IDs of the Guardian/Parent
- 1 passport photo for the child
- 1 passport photo for the Guardian/ Parent
- Copy of Birth certificate
Kingdom SACCO Limited,
Empower House,
Thika Road, Githurai 45
+254 720 838422
+254 705 344094
+254 20 2089715
Email:info@kingdomsacco.com
Kingdom SACCO has a wide range of banking/front office services that including the following:
- Transactional Accounts
- Cheque Clearance
- Funds Transfer
- Cheque Book Services
- Salary Processing
Front Office Savings Account (FOSA)
This is a transactional account for individual and corporate members of Kingdom SACCO. This account brings to our customers a load of transactional capabilities making our SACCO a one stop shop for all things banking.
Salary Account
This is an account for members of Kingdom SACCO who are on a regular salary. We also offer upto 50% salary advance to our members whose salaries are processed through Kingdom SACCO. We do not charge any processing fees for salaries.
Youth Heritage Account
This is a savings account designed for the youth between the ages of 14 – 26. The account encourages young people to begin saving for their future growth in personal development or business. The account has unlimited cash withdrawals and at least three cash deposits per year. This account earns interest on deposits.
Key features of front Office Savings Accounts
Some of the key features of our front office savings accounts include:
- No account opening fee
- Free monthly bank e-statement
- No notice on withdrawals
- Unlimited withdrawals
- No minimum Deposit
- Attractive interest rate on deposit
- Free internal standing order
- Cash held on this account can be used as security for a loan
- ATM and mobile banking service available for these accounts
FOSA Individual Requirements
- Completed accounts opening form
- Copy of IDs and PIN Certificate
- 1 passport photo
FOSA Corporate Requirements
- Completed accounts opening form
- Copy of business registration certificate/ Incorporation Certificate
- Copy of Business PIN
- Copy of Memorandum and Article of Association if the business is a limited liability
- Board Resolution to open an account with KSACCO if the business is a limited liability ( resolution to clearly state the signatories and mandate)
- Copies of IDs and PINs for the Signatories
- 1 passport photo for every signatory
Salary Account Requirements
- Completed accounts opening form
- Copy of IDs and PIN Certificate
- 1 passport photo
- Introduction letter from the employer
Youth Heritage Account Requirements
- Completed accounts opening form
- National ID for individuals over 18,Birth Certificate for under 18, National ID for the guardian
- 1 passport photo
Business Loan
This is a tailor-made loan facility suitable for business working capital and shorter financing requirements of a business. The facility has the following features:
- Have maintained an active account with KSACCO for at least three Months
- Wide range of securities are acceptable ( Motor Vehicles, Properties, Term Deposits, Guarantors)
- Facility is repaid within a period of 36 months.
- Affordable Interest rates
Development Loan
This is a comprehensive development finance option that focuses on providing personal and specialized services to meet our clients’ specific needs such as purchase of property and Construction. The facility has the following features:
- Have maintained an active account with KSACCO for at least three Months
- Wide range of securities are acceptable ( Motor Vehicles, Properties, Term Deposits, Guarantors)
- The Facility is payable up to a maximum period of 60 months.
- Attractive Interest rates
Personal Loan
The personal loan is advanced to members with active FOSA accounts for purposes of purchasing assets, boosting business or for other developmental purposes. The loan has the following features:
Features
- Have maintained an active FOSA account with KSACCO for at least 6 Months
- Wide range of securities are acceptable (Motor Vehicles, Properties, Term Deposits, Guarantors)
- Facility is repaid in installments of between six and twenty four months.
- Attractive Interest rates
- Response time within 36 hours
Jijenge Loan
This is a tailor-made loan facility suitable for securing business working capital and also shorter financing requirements for businesses. It is designed to finance needs such as LPO financing. The facility has the following features:
- Have maintained an active account with KSACCO for at least Six Months
- Wide range of securities are acceptable (Motor Vehicles, Properties, Term Deposits, Guarantors)
- Facility repaid as on-off within 3 months/ Also referred to as Bullet Loan
- Attractive Interest rates
- Response time within 24 hours
Emergency Loan
This facility is a short-term facility that seeks to offer solution to urgent and unexpected needs such as medical bills, funeral expenses, court fines and general response to natural calamities. The facility has the following features:
- Have maintained an active account with KSACCO for at least three Months
- Wide range of securities are acceptable (Motor Vehicles, Properties, Term Deposits, Guarantors)
- Facility is repaid within a period of 12 months
- Attractive Interest rates
- Response time within 24 hours
School Fees Loan
The school fees loan is for the purpose of payment school fees and related expenses. The facility has the following features:
- Have maintained an active account with KSACCO for at least three Months
- Wide range of securities are acceptable (Motor Vehicles, Properties, Term Deposits, Guarantors)
- Facility is repaid within a period of 12 months
- Attractive Interest rates
Asset Financing
The purpose of the loan is to finance acquisition of an asset. The facility has the following features:
- Have maintained an active account with KSACCO for at least Six Months
- To finance up to 80%
- Limit age for motor Vehicles is 9 years from year of manufacture.
- Attractive interest rates
- Security is the asset to be purchased
- Repayment period is max 36 months
Title Deed
Requirements for use of a Title Deed to secure a Loan.
1. Fill and submit the form for use of Title Deed as collateral.
2. Submit Copy of the Land Title Deed you intent to use as collateral.
3. Submit Copies of ID and PIN of the borrower and registered land owner.
4. Submit Copy of ID of the spouse of the registered land owner.
5. Undertake security perfection process which involves: Search, Valuation & Charge Registration
The Search, Valuation & Charge Registration Fees will be communicated after submission of above documents to determine the cost based on the value of the loan and land registry applicable.
The process takes approximately 30 to 60 days depending on land registry involved.
The Society shall also require to check your CRB status, hence ensure to have/deposit Ksh. 250 in your FOSA Account which is the credit referencing fee that will be charged.
Logbook
Requirements for use of a Logbook to secure a Loan.
1. Fill and submit the form for use of Logbook as collateral.
2. Submit Copy of the Logbook you intent to use as collateral.
3. Submit Copies of ID and PIN of the borrower and registered motor vehicle owner.
4. Undertake security perfection process which involves: Search, Valuation & Joint Registration.
5. Pay Search Fees of Ksh. 1,000 as specified on the attached form.
Afterwards payment will be required for Valuation Fees ranging between Ksh. 3,000 – 4,500 depending on motor vehicle type and payment for Joint Registration without transfer of Ksh. 9,000 or Joint Registration with transfer of Ksh. 11,000 inclusive of legal fees on the minimum depending also on the loan amount.
The process takes approximately 21 days once all the necessary documents are submitted.
