Imarisha Sacco is one of the leading Saccos in Kenya. Below we review the company’s products to help you easily get access to information about the Sacco.Our main content is about membership requirements, loans and payment methods.
- Complete membership application form and attach:
- Copy of national ID
- Copy of KRA pin certificate.
- Copy of pay slip/paystub.
There are two types of membership: Joint Membership and Individual Membership.
Members Welfare Kitty
- Console the family in case of a member’s demise. The family of the deceased is given Kshs. 150,000 (Kenya shillings one hundred and fifty thousand).
- Write off the deceased member’s loans.
- Double the deceased member’s deposits due for refund to the beneficiaries.
- Enrollment process: requirements, forms, fees and charges (tariff guide).
Pongea Medical Kitty
Assist members to pay their medical bills after exhausting their personal health insurance and government managed health insurance allotment up to a tune of kes 1.2 Million. The welfare support members who are referred for specialized treatment. Members who are diagnosed with cancer are given an upkeep of Kshs. 300,000.
Savings Accounts
- Savings, where deposits & withdrawals are made at any time. Interest on savings is paid annually at market rates.
- To channel other payments as from farm proceeds hence qualify to apply for proceeds loans and advances.
- Salaries can be channeled through this account thus; one can apply for Salary advances, Inua loan and Daraja loan.
- Payment of BOSA & FOSA loans applied by members is done through this account.
- Personal Cheque book can be issued upon request.
Requirements
- National Identity Card.
- Passport size photo taken free on opening of the account.
- KRA Pin Certificate.
Fixed Deposit Account
- This is an account where deposit is made for a fixed period/term to earn an interest.
- The Minimum balance is. Ksh.20,000 and minimum period is 1 month.
- The interest is competitive and negotiable.
Parrot Account
- Open for children aged between 1-18 years.
- Minimum opening balance is Kshs.1,000.
- Earns interest with a balance above Kshs.5,000.
- Withdrawals limited to 3 times annually.
- Accounts operation by parents or guardians.
- No ledger fee.
FOSA Senior Citizen Account
This product is meant to cushion a member against the period when one has stopped receiving salary upon retirement.
- One must have opened a FOSA account.
- Monthly minimum contribution of Ksh.500.
- Non-withdrawable deposit until retirement.
- Earns an annual attractive interest rate.
The Sacco pays dividends of 13%-18% of the share amount invested. If you invest Ksh 10 million, you will earn Ksh 1.3 million to Ksh 1.8 million per year.
- Ughaibuni Loan, Homeland Loan, Nguvu Loan, Diaspo Loan, Asset Finance & Mortgage.
- Do all the loan products require cosigner?
- Most loan products require an active member to cosign, however, there are some products that only require collateral or cosigner and chattels. 19. How do I send monies to my account in IMARISHA?
- Sendwave, Worldremit etc, bank transfer, standing orders, direct debits or any other diaspora remitting channels.
- Savings/Deposits are refundable while Share Capital is nonrefundable but transferrable to a nominee or another member.
- Share capital earn dividends while savings/deposits earn interest.
- Shares are never used as a loan security while deposits may be used as loan security.
- Members are not permitted to borrow against share capital as Shares are never used as a loan security while deposits may be used as loan security.
- 1, 600/= is the minimum monthly contribution which is made up of Kshs.1, 200/= shares/deposits & Kshs.400/= that goes to the members welfare.
Short term Advances (1 month)
This credit facility allows members to solve problems that involve small money such as rent and school fees. It targets individuals whose salaries are channeled through FOSA Accounts.
- Eligibility: 90% of the net salary.
- Repayment: 1 Month.
- Interest Rate: 10%.
Long term Advances (6 months)
This credit facility enables our members to meet the financial obligations, which require money, which is more than one’s salary. It target individuals whose salaries are channeled through FOSA Accounts.
- Eligibility: 4 Times one’s net salary.
- Repayment: 6 Months.
- Interest Rate: 14%.
Inua Loan (24 months)
This loan product targets individuals whose salaries are channeled through a FOSA Account.
- Eligibility: 5 Times FOSA non-withdrawal deposits
- Repayment Period: 24 Months.
- Interest Rate: 14% p.a.
Daraja Loan (36 months)
This loan product targets individuals whose salaries are channeled through a FOSA Account.
- Eligibility: 3 Times FOSA non-withdrawal deposits
- Repayment Period: 36 Months
- Interest Rate: 14% p.a.
Individual (Binafsi)
This product is available for individual business people with;
- Savings for a minimum of six (6) months
- Four (4) times deposits which attracts affordable Interest rates.
- 1st loan Repayment period is 12 – 48 Months.
Kilimo Advance
- Must have an active FOSA account.
- Affordable Interest rate.
- Maximum repayment period 10 months.
- Farm payout for a minimum of 4 months.
Kilimo Loan
- Must have an active FOSA Account.
- Affordable Interest rate.
- Repayment period 12 – 24 Months.
- 5 % Net loan to FOSA account retained as Kilimo deposits.
- Must have channeled farm payout for at least 4 months.
Asset Financing
- Available to members who want to own assets i.e. tractors, pick-ups, etc.
- Members save ¼ the price of the asset to be retained as micro-savings.
- Maximum repayment period: 48 months
Purchase of Water Tanks
- Available to members who want to own water tanks.
- Members save ¼ the price to be retained as micro-savings.
- Maximum repayment period: 12 months.
Home Purchase Loan
- Available to members who wish to purchase single-dwelling units.
- Repayment period of 25 years for salaried members.
- Minimum share capital & long-term deposits of more than Kshs. 120,000.
Mortgage Loan
- Available to members who wish to build single dwelling units.
- Repayment period of 25 years for salaried members.
- Minimum share capital & long-term deposits of more than Kshs. 300,000.
- Interest is charged on disbursed amount only.
Development / Normal Loans
- This product is open to all members.
- A member can take maximum loan of 3 times deposits held.
- Repayment period: 48 months.
- Interest rate: 1% p.m on loan reducing balance.
Premium loan
- The Premium loan is open to all members.
- A member can take a loan of up to 3 times deposits held.
- Repayment Period: 60 Months.
- Interest rate: 1% p.m on loan reducing balance.
- It also attracts 1.5% premium interest recovered up-front
Re-Finance Loan
- This loan is open to all members wishing to refinance their existing loans.
- Repayment period is 48 months.
- Interest rate: 1% p.m on loan reducing balance.
Education / School Fees Loan
- This loan is meant for secondary, college or university fees.
- A member can take a loan of up to 3 times deposits held.
- Repayment period: 20 months.
- Interest rate: 1% p.m on loan reducing balance.
Emergency Loan
- This loan is meant for unforeseen circumstances like burials, natural calamities, court orders, etc.
- A member should have serviced all other loans.
- Repayment period is capped at 12 months.
- Interest rate: 1% p.m on loan reducing balance.
Introductory Loan
- This loan is available to new salaried members
- A new member is eligible to a maximum loan of Kshs.200,000 where a third (1/3) is taken to member’s deposits.
- Interest rate: 1% p.m on loan reducing balance.
- Repayment period: 48 months.
Sky Loan
- This product is open to all members.
- Annual dividends and interests are used to repay the loan.
- A member can take maximum loan of 3 times deposits held.
- Repayment period: 72 months.
- Interest rate: 1% p.m on loan reducing balance.
Sky Poa Loan
- A member earns dividends & interests
- Must have minimum BOSA deposits of Kshs.300,000
- A member can take maximum loan of 3 times deposits held.
- Repayment period: 72 months.
Other BOSA Loans
–> Karibu Loan (12 mths)
–> Ideal Loan (84 mths)
–> Superior Loan (96 mths)
–> Take-Off Loan (84 mths)
Overview
| BOSA LOANS | Duration |
| Development/Normal Loans | 48 months |
| Premium loan | 60 months |
| Re-Finance Loan | 48 months |
| Education/School Fees Loan | 20 months |
| Emergency Loan | 12 months |
| Introductory Loan | 48 months |
| Sky Loan | 72 months |
| Sky Poa Loan | 72 months |
| Karibu Loan | 12 months |
| Ideal Loan | 84 months |
| Superior Loan | 96 months |
| Take-Off Loan | 84 months |
FOSA Operating Hours
Monday to Friday (Weekdays): 8:30am – 4:00pm
Saturday: 9am- 12pm (9am – 4pm for Mulot Branch)
Closed on Sundays and Public Holidays
BOSA Operating Hours
Monday to Friday (Weekdays): 8:30am – 4:00pm
Saturday: 9am- 1pm.
Closed on Sundays and Public Holidays
Address
Tel: +254 709 578 000
Email: imarisha@imarishasacco.co.ke
Imarisha Sacco building,
P.O Box 682-20200, Kericho, Kenya.
Ughaibuni Loan
- This is a loan product designed for Diaspora members with BOSA Deposits in the Back Office
- The loan amount is based on the Bosa Deposits.
- The Maximum loan one can qualify is three times their Bosa Deposits subject to ability to repay.
- The maximum repayment period is 60 months.
- Affordable interest rates.
Homeland
- This is a loan product designed for Diaspora members with Bosa Deposits.
- The Maximum loan one can qualify is three times their Bosa Deposits subject to ability to repay.
- The maximum repayment period is 48 months.
Nguvu Loan
- This is a loan product designed for Diaspora members with Fosa Deposits in the Front Office.
- The Maximum loan one can qualify is five times their Fosa Deposits subject to ability to repay.
- The maximum repayment period is 24 months
Diaspo Loan
- This loan product is designed for active Diaspora members whose deposits exceed the loan applied or have no existing loan.
- Maximum loan of Ksh.120,000.
- Loan applied must be fully secured by Non-Withdrawable deposits.
iii.Direct Credit –RGTS
Equity Bank of Kenya
Account Number: 0280273441086
Branch: Kericho
Swift Code: EQBLKENA
Bank Code: 068
Branch Code: 028
iv.Direct Credit –RGTS
Co-operative Bank of Kenya
Account Number: 01120053000100
Branch Code: Kericho
Swift Code: KCOOKENA
Branch Code: 11024
i. Wave
Equity Bank of Kenya
Kenya Shillings: Account Number: 0280273441086
ii.M-PESA
Paybill Number: 982100
- Go to Mpesa
- Select Lipa Na Mpesa
- Select Paybill
- Enter Business Number:982100
- Enter Account Number: Imarisha Sacco Account Number
- Enter Amount
- Enter Mpesa Pin and press send.
Nairobi Branch · Nairobi · +254 709 578 000 · nairobi@imarishasacco.com.
Kericho Branch—-
Kilgoris Branch—- Kilgoris Branch · Kilgoris · +254 709 578 000 · kilgoris@imarishasacco.co.ke.
Bureti Branch
Location: Litein-Kericho Highway, next to Litein Factory
Contact: 0709578000
Mulot Branch
Location: Wastabei Building, Mulot
Contact: 0709578000
Narok Branch
Location: Ground Floor, Oltalet Mall
Contact: 0709578000
Keringet Branch
Location: Keringet Mall, Keringet
Contact: 0709578000
Eldoret Branch
Ground Floor, Zion Mall Building, Eldoret
Contact: 0709578000
Ndanai Branch
Location: Ndanai Enterprises Building, Ndanai
Contact: 0709578000
Nandi Hills Branch
Location: Kalongei Building, Nandi Hills
Contact: 0709578000
Awasi Branch
Location: Awasi – Chemilil Junction
Contact: 0709578000
Bomet Branch
Location: Imarisha Sacco Building , Bomet Town
Contact: 0709578000
Customer Experience Center
Location: 3rd floor, KEBO Plaza, Kericho Town
Contact: 0709578000
