Below are the loan products, saving products, contacts and other details about K-Unity Sacco:
Agri Loans
Kilimo (Unsecured)
• Available to Agri based businesses
• Loans are up to Kshs 500,000/=
Below Kshs 300,000, 24months
Above Kshs 300,000, 36 months
• Maximum repayment period of up to 24 months
• Attractive Interest rate is at a reducing balance (15%)
• 2/3 rule must apply
• Minimum monthly savings to Jijenge of Kshs 500.
• Minimum deduction at the point of deduction of 2% of the loan
• No security
Kilimo (Secured)
• Available to Agri-based business operations
• Loans are up to Kshs 50,000,000/=
• Jijenge monthly minimum contribution of Kshs 1,000
• Maximum repayment period of up to 84 months
• Attractive Interest rate is at a reducing balance
• First 5million-3% appraisal fee, Anything above Kshs 5million -2% appraisal fee
• 2/3 rule must apply
• Security: title deed, motor vehicle or fixed deposit with the Sacco
Mifugo
• Available to all farmers based in livestock raring areas
• Loans available after months of operations
• Loans are up to Kshs 500,000/=
• Loans above Kshs 500,000/=
must be secured by a title deed, motor vehicle or fixed deposit
• Jijenge deductions of at least Kshs 500 per month.
• Attractive Interest rate.
Kilimo Advance
• Available to dairy and tea farmers
• Maximum repayment period of up to 3 months
• Advance up to 2/3 of he expected monthly net payment
• Loans are up to Kshs 300,000/=
Tea Bonus Advance
• Available to tea farmers
• Maximum repayment period of up to 24 months (2 years)
• 120% of the previous tea bonus payment-2 years
• 85% of the previous tea bonus payment-1year
SME Loans
SME (Unsecured)
• Available to Business enterprises
• Must have operated the account for at least 6 months.
• Jijenge deposits to be Kshs 500 minimum per month.
• Loan up to Kshs 500,000/=
• Maximum repayment period of up to 36 months
• No security
• Attractive Interest rate is on a reducing balance
SME (Secured)
• Available to business enterprises
• Must have operated the account for at least 6 months
• Maximum repayment period of up to 84 months
• Security: Title deed, logbook
• Attractive Interest rate is on a reducing balance
• Loans up to a maximum of 50Million.
Salary Loans
Salary (Unsecured)
• Available to salaried employees,
• Loan are up to Kshs 500,000/=
• Maximum repayment period:
Below Kshs 300,000, 24months
Above Kshs 300,000, 36 months
• Attractive Interest rate in reducing balance.
• 2/3 rule must apply.
• No security.
• Monthly Jijenge contribution of Kshs 500.
• Jijenge deduction 2% one off on loan issue
• For borrowers of Kshs 500,000, they must have at least Kshs 50,000 in Jijenge.
Salary (Advance)
• Available to salaried employees and pensioners
• Maximum repayment period of up to 3 months
• Advance up to 2/3 of he expected monthly net payment
• Loan are up to Kshs 300,000/=
Salary (Secured)
• Available to salaried employees,
• Loans are up to Kshs 10,000,000/=
• Jijenge monthly deduction of Kshs 2,000 for check off loans.
• For the other non-check off, Jijenge monthly contributions of Kshs 1,000.
• Maximum repayment period of up to 84 months
• 2/3 rule must apply
• Must be secured by either title deed, motor vehicle or fixed deposit
• Interest Rate on reducing balance.
Group Loans
Micro Finance Loans
• Available to all registered organized group members
• Loans available after 6 weeks of operations
• Monthly savings of not less than Kshs 1,500 per month or Kshs 300 per week.
• Loans are 4 times the savings balance
• Interest Rate on reducing balance.
• Repayment Period of up to 36 Months.
Chama loans
• Available to organized registered groups for asset acquisition
• Loans available after 6 months of operation
• Security: Title deed, logbook
• Minimum members of a chama should be at least 5 members
• Consider 90% of contributions during lending.
• Interest Rate on reducing balance.
Other Loans
Jijenge Loan
• Available to all Jijenge account holders
• Amounts are 4 to 5 times the balance of the Jijenge savings
• Maximum repayment period is up to 84 months
• Security: guarantors, title deed and logbook
Society Development Loan
• Available to cooperative societies
• Loans are up to Kshs 50,000,000/=
• Maximum repayment period of up to 60 months
• Interest rate is at a reducing balance
• 2/3 rule must apply
• Security: Title deed, logbook, and fixed deposit
Asset Finance Loan
• Available to all members
• Loan is from 80% of the total purchase price.
Customer to meet the balance of 20%
• Maximum repayment period of up to 60 months
• Interest rate is at a reducing balance.
• The vehicle must be comprehensively insured under MAPA insurance agency.
• 2/3 rule must apply
• Security: Title deed, logbook
• On tracking, for high value vehicles e.g. 3million and above, to be installed with 2 trackers.
• In case of a motor vehicle, joint registration must be done, and logbook will be held by the Sacco until loan id fully paid.
• The motor vehicle should be less than 8 years of age.
Overdrafts Loan
• Available to all business enterprises
• Accounts with deposit turnover more than Kshs 100,000 per month
• Security: Title deed, logbook
Trade Financing
(LPO/Invoice Discounting/Performance Bonds)
• Available to all our customers
• Maximum 2/3 of the LPO with a maximum of Kshs 500,000/=
• Invoice discounting is also incorporated.
• Amounts above Kshs 500,000/-
must be secured by either Motor Vehicle, title deed or fixed deposit.
Insurance Premium Financing
• Available to all ourcustomers
• Loan for insurance premium payment
• Maximum period is up to 10 months.
Akiba Savings Account
- This account is open to all and operates like a current account
- Minimum balance of 500ksh
- Monthly ledger fees of 50ksh
- You can access ATM card, Unicash, Pay bill, Personal cheque, in house payment voucher
Boresha Account
- Minimum operating balance is kshs.2,000/=
- No monthly ledger fees.
- Have an annual maintenance fee of Kshs 100.
- The customer can apply for ATM card, Unicash, Personal Cheque, pay bill
- Withdrawal charges apply.
Jijenge Deposits
• Minimum monthly deposit of kshs.300/-
• No monthly ledger fees.
• One qualifies loan 4 to 5 times the deposits saved in the account.
• Withdrawal upon giving a notice within 60days and free from co-guarantee.
• Deposits withdrawn during the year will not earn interest.
• Minimum monthly contributions to be Kshs 300 for customers.
• Interest rates to be as follows;
* Below 1million – 7.5% p.a
* Above 1million-2million 8%-p.a
* Above 2million- 9%p.a
• Withdrawal charges apply
Shirika Savings Account
This account is ideal for societies
• Minimum balance kshs.500/=
• Monthly ledger fees of kshs.300/=
• The society management can apply for a personal cheque
• Withdrawal charges apply.
Watoto Account
• This account will instill your child the culture of saving at an early age.
• Minimum operating balance kshs.500/=
• No monthly ledger fees.
• The account is withdrawable three times a year
• The parent or guardian can operate the account until the child reaches age of majority.
School Fees Account
• This account helps parents/ guardians.
• Minimum operating balance is 500/=
• Withdraw is restricted to three times in a year at back-to-school periods.
• Three free bankers’ cheques per year to be given to customers.
• No monthly ledger fees.
• Withdrawal charges apply.
• The parent or guardian can operate the account until the child attains the age of majority
Holiday Savings
Are you a Holiday lover?
- The account is open to all customers
- Minimum weekly savings kshs.250
- Minimum operating balance is kshs.110/=
- Negotiated holiday packages.
- No monthly ledger fees.
- Withdrawal charges apply
Benevolent Fund
• No minimum operating balance.
• Kshs 600 Contribution per annum for one individual and Kshs 1,200 for a couple per annum.
• No monthly ledger fees.
Imarisha Savings
This account is for entrepreneurs and salaried employees (Small Scale)
• A minimum balance of kshs.110.
• No monthly ledger fees.
• Withdrawal charges apply.
• One can access ATM Card,Unicash and Pay bill.
MFI Member Savings
• Weekly savings of Kshs 300
• Free financial literacy training once per year with certificates.
• No monthly ledger fees.
• One qualifies loan 4 times of the funds saved in the account.
• Withdrawal upon one leaving the group and free from co-guarantee
Chama Savings
• Minimum opening balance of kshs 2,000/=
• No monthly ledger fees.
• Maintenance fee Kshs 100 per year to be charged in December.
• Withdrawal to be Kshs 100 per transaction
Key Features of The Diaspora Account
- Full access to mobile banking for the boresha or akiba savings account.
- Free email statements upon request.
- Access to unsecured/ secured personal loans.
- Jijenge account earns an interest of 7.5 to 9% of the total savings
Requirements
- A copy of your KRA Pin
- A passport photo
- Copy of your ID/Passport which should include the page with photo
- Proof of address e.g utility bill or driving license
Can I use mobile banking
Yes, once you have registered with our mobile banking you can withdraw from your current account, deposit, view mini statement and transfer funds.
Can i get a loan when i am in diaspora
Yes, you can access both secured and unsecured loans while in the diaspora. check out our loan products
What is the procedure for remitance in the diaspora
1.The funds are deposited in to Equity bank
- Acc name: K-unity Savings and Credit Co-operative Society ltd
- Acc No: 0640280283694
- Branch code: 064
- Bank code: 680
- Swift code: EQBLKENA
2.The customer emails the transaction details to info@k-unity.co.ke
3.The customers K-unity account will be updated
Motor Insurance
SME & Corporate Insurance
Comprehensive
Scope
- Covers third party
- Covers vehicle Accident against own damage accidents.
- Covers theft of the Vehicle.
- Covers vehicle against riots and strikes.
- Covers vehicle against fire lightning, floods.
RATE FOR MOTOR PRIVATE: 6% to 3.5% depending on the vehicle.
RATE FOR MOTOR COMERCIAL:.4.5% own goods
: 5.5% General cariage
Third Party
Scope
- Covers against third party
Rate: 7,574(CIC, UAP, BRITAM)
:4580(Direct line insurance)
Motorcycle Insurance
Comprehensive:5% value of the motor bike minimum 5,000
- Motorcycle private:3,194
- Motorcycle PSV:3,651
Fire
A fire insurance policy provides comprehensive protection against any damage caused due to fire explosion, caused due to either movable or immovable property
All premiums are based on quotation
RATE 1.25%-2.5% MINIMUM 2,500
Buglary
It covers the Loss of or damage to the property Insured caused by theft following actual forcible and violent entry into or exit from the premises.
The premiums are based on quotation.
RATE: 0.0005 PER MILLE MINIMUM 2,500.
Biashara Salama
Covers for the physical lose or damage to the property as described in the schedule which is limited to Stocks in trade and business-related items as below:
- Fire & Lightning
- Theft
- Political riots & strikes
RATE:1.1%Minimum 1,547 for stock up to 5M.
Micro Insurance
Livestock insurance
Covers livestock against the below:
- event of accidental death or damage or loss to the Dairy cattle
specified in the Schedule, as caused by internal and external injury
by moving or falling objects - lightening, electrocution,
- calving down complications
- fire
- windstorm
- poisonous bites
- Diseases of terminal nature or Emergency Slaughter on a
veterinary doctor’s advice theft with use of force during the period
of this insurance.
RATE 3.5% THE VALUE OF THE ANIMAL.
Standard personal accident
Cover provides monetary payments in the event of bodily injury sustained by the insured. The injury must be caused by violent, accidental, external and visible means subject to the option selected by the insured and will compensate the affected member if injured.
The policy offers benefits under the following categories:
- Death
- Permanent and total disability
- Temporary total disability/ weekly loss of income for those in gainful employment
- Hospital cash for those in self-employment medical expenses on reimbursement basis up to a determined limit.
- Funeral expenses
- Professional trauma counseling
- Physiotherapy expenses
Jilinde personal accident
The policy will provide monetary payments in the event of bodily injury sustained by the insured. It covers injury caused by violent, accidental, external, and visible means, subject to the option selected by the insured.
Cover is available under the following benefits:
- Death
- Permanent total disability
- Hospitalization cash payout
- Medical expenses
Domestic package
Indemnity to the insured in respect of loss or damage caused by fire, lightning, thunderbolt, earthquake, volcanic eruption, subterranean fire, explosion, riots and strikes, malicious damage, and special perils as per policy.
It covers the below section:
- Buildings
- Contents
- All risk
- W.I.B.A(Work Injury Benefit Act)
- Owners Liability
- Occupiers Liability
Premiums are based on Quotations.
All Risk
The policy covers any movable items against Fire, Burglary, Theft, Loss and accidental breakage
Premiums are based on Quotations.
W.I.B.A(Work Injury Benefit Act)
This is an insurance cover that protects employers, should their employees incur injuries or die in the course of their work.
Premiums are based on Quotations.
Travel Insurance
This is an insurance that covers the costs and losses associated with unexpected events incurred while traveling.
Premium: number of days your travelling*the dollar rate
Bond Insurance
This insurance covers is a type of insurance policy that a bond issuer purchases that guarantees the repayment of the principal and all associated interest.
Premium: based on quotation according to the value of the bond.
Health Insurance
- Covers inpatient, outpatient dental optical maternity and personal accident.
From the age of 18years-65years
Seniors From 70years -85years
F.A.Q.
How i do get a quote?
Call our call center on 066 2022816/+254 707 424 774 and get your quote processed in 24 hrs and will be valid for 30days.
Can I pay in installments?
Exactly! This is what is great about mapa you can pay your premium in an easy and flexible 3 month’s installments.
How do i pay?
We have two payment options
- M-pesa deposit
- Bank account deposit at any of our branches.
How do i make a claim?
Our claim process is very simple call us on 066 2022260 / 0793255856 and we will take you through
Kiambu
- Location : K-Unity Building, Ground floor, Biashara Street, Kiambu Town
- Contact: 0711 535 753
Githurai
- Location : K-Unity Building, next to Post Office, Githunguri Town
- Contact: 0701 929 807
Kagwe
- Location : Gichombo’s Building, next to Total Petrol Station, Kagwe Town
- Contact: 0701 929 791
Kiriita
- Location : K-Unity Building, Ground floor, Kimende Town
- Contact: 0701 920 687
Wakimbo
- Location : Prime House Building, Thika-Flyover Junction, Wakimbo
- Contact: 0701 922 862
Suswa
- Location : Eagle Plaza, next to Mara Gateway, Suswa Town
- Contact: 0792 245 885
Mai-Mahiu
- Location : Flomic Building, Opp. Narok-Maai Mahiu junction, Maai Mahiu Town
- Contact: 0701 920 282
Ruaka
- Location : Land Mark Plaza, Ground floor, Limuru road, Ruaka
- Contact: 0741 899 867
Nairagie Enkare
- Location : Kesier Building, Nairagie Enkare Town
- Contact: 0701 931 219
Gikomba
- Location : Cambodia Building, next to Business Arcade Plaza, Gikomba
- Contact: 0701 923 899
Kikuyu
- Location : K-Unity Building, Opp. Able God wholesellers, Kikuyu Town
- Contact: 0701 928 720
Gikambura
- Location : Gikambura Dairy Building, Gikambura Town
- Contact: 0792 245 231
Limuru
- Location : K-Unity Building, Ground floor, next to BATA shoe Co, Limuru Town
- Contact: 0711 535 837
Wangige
- Location : K-Unity Building, next to the Market/Wamakumi Building, Wangige Town
- Contact: 0701 848 809
Banana
- Location : Summer Building, next to Family Bank, Banana Town
- Contact: 0704 531 044
Kamwangi
Contact: 0701 846 821
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