Here is a list of Dimkes Sacco branches and their contacts. The Diocese of Mount Kenya South (Dimkes) Sacco is a deposit-taking Sacco that has been operational since 1999. With an asset base of more than 2.46 billion, Dimkes is one of the largest SACCOs in Kenya.
List Of Dimkes Sacco Products
a) Loan Products
1. Asset Finance
This product is granted to customers to purchase capital assets i.e motor vehicles, construction equipment, industrial plant & machinery, agricultural equipment and land.
Features
- The Sacco will finance the cost of the asset from between 50% to 80% of the total cost with the client funding the balance.
- Finance periods range from 12 to 48 months with the duration being fixed at the beginning of the facility.
- Interest rates are charged on a reducing balance at between 1.33 – 1.5% pm reducing balance.
- Assets will be jointly registered in the names of the client and Dimkes SACCO until the loan is fully repaid.
2. School Fees loan
The Sacco finances school fees payments on application for a period of 12 months at 12% p.a
3. Mkulima Loan
Qualifications:
- The member is required to be an active member for a period of not less than six months.
- For the expansion of farming e.g. buying more cows (a site visit by the credit officer is necessary.)
- One can only borrow up to three times their normal shares.
Benefits
- Attractive interest rates.
- A variety of securities can be considered e.g. guarantors, log books, farm machinery and title deeds.
- The loan can also be secured by the orders given to the farmers from reputable institutions.
- Up to 36 months repayment period.
4. Salary Advance
Features
- The salary account must have been credited for not less than three months
- The client should not commit more than 2/3 of the salary and or allowances.
- Interest is 5% p.m. reducing balance
- All other loans must be performing
- The maximum repayment period is 3 months
5. Loan Purchase Product
Qualification
- The member is required to be an active member for a period of not less than six months.
- The loan being purchased should be a performing loan, proof of which should be given to the credit officer for evaluation.
- Members are required to give security for the loan.
- A 5% charge on the outstanding loan amount to be purchased will be charged as a processing fee.
Benefits
- Ability to trade expensive loans for cheaper loans.
- No hidden charges as our credit officers will discuss all applicable fees.
- Up to 60 months repayment period on loans.
6. LPO
This product enables customers to acquire local purchase orders with ease.
Requirements
- Verifiable LPOs and tenders from trusted clients/firms only.
- Can only finance short term (1-6) months depending on the term of the product pegged to the LPO delivery timelines.
- LPO issue must execute a supplier credit MOU with the SACCO.
- Most recent audited account where applicable.
- List of past contracts completed dates, amounts etc.
- Amount: We will finance up to a maximum of 75% of the L.P.O
- Interest rate: 2.5% p.m. on reducing balance.
- The loan will attract a 2.5% processing fee plus an excise duty and loan insurance cost.
- Securities must be provided for amounts above Kshs. 200,000
7. Medical Loan
This is an emergency loan based on members’ normal shares and thus a member can qualify for up to 3 times their shares.
- Supporting documents must be attached.
- Benefits
- An interest rate of 12% P.A
- Quick loan processing
- Loan repayable for up to 24 months
- Security is guarantors
8. Biashara Loan
This product is designed to enable members to start/expand businesses with ease.
Requirements
-The member must be operating a current account. If not, they must be having normal shares, a minimum of a third of the loan amount applied.
-For the operating current accounts, their monthly deposits average will determine how much they can be able to repay the loan, hence the amount they qualify for.
-Business assessment report by a credit officer.
-The loan must be secured by either: guarantors, Chattels mortgage on business assets or any other collateral for example log book, a title deed, or salary.
9. Chama Loan
Chama loans are designed to enable registered self-help groups, welfare and investment groups to acquire loans for the wealth creation of its members.
Features & Requirements
