Kenya Bankers Sacco Membership Eligibility & Requirements

This article focuses on Kenya Bankers Sacco membership eligibility and requirements. Kenya Bankers Sacco was formed in February 1975 as a Savings and Credit Co-operative Society.

The society was formed mainly to provide affordable financial services to its members and customers for wealth creation through deposit mobilisation and prudent management.

Kenya Bankers Sacco Membership Eligibility

The Sacco’s membership is open to all.

Kenya Bankers Sacco Membership Requirements

  • Fill the membership application form which is available on the Sacco’s website or can be obtained from its offices countrywide.
  • Copy of National ID/Passport.
  • Copy of KRA PIN certificate.
  • One passport size photograph.
  • Membership registration fee of Kshs 500, to be deposited via Mpesa paybill number 400444, with the account number being your ID number.

Upon completion of the membership form, the same should be forwarded as a hard copy to the Sacco’s office or scan to, for account opening, after which your membership number and account details will be communicated to you.

Kenya Bankers Sacco Products

Savings Products

(i). Children Savings Account

  • Minimum operating balance is Kshs 1,000.
  • Earns interest payable every 6 months.
  • Savings are withdrawable.
  • Interest is 40%.

(ii). Elimu Bora Savings Scheme

  • Minimum monthly contribution is Kshs 1,000.
  • Maximum entitlement is x3 the total savings/ deposits held in the scheme.
  • Maximum repayment period is 36 months.
  • Applicable interest rate is 1% per month on reducing balance.

(iii). Main Saving Scheme

  • Mandatory minimum monthly contribution is Kshs 3,000.
  • Non withdrawable unless termination of membership.
  • All loans except education loans are granted against this account.

(iii). Risk Management & Benevolent Scheme

  • It is an internal insurance cover for the sacco where every member contributes Kshs 400.

Loan Products

  • Karibu loan.
  • Aspire loan.
  • Elite loan.
  • Biashara loan.
  • Express loan.
  • Express loan.
  • Jibambe loan.
  • Mloan.
  • Elimu bora loan.
  • FOSA advance.
  • Boresha loan.
  • Asset finance loan.
  • Afya imara loan.
  • Loan within savings.
  • Premier loan.
  • Salo loan.
  • Business loan.
  • Overdraft facility.

Kenya Bankers Sacco Contacts

Head Office: Kenya Bankers Centre, Along 3rd Ngong Avenue, Off Ngong Road, Upperhill, Nairobi.

Contact: 0205 146 500.

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