List Of IG (Invest & Grow) Sacco Products And Branches

In this article, we have listed all products offered by IG (Invest & Grow) Sacco and their branches in Kenya. IG Sacco, formerly Kakamega Teachers Sacco, is a deposit-taking Sacco that has been operational since 1977.

IG Sacco’s initial membership came from the teaching fraternity i.e. primary and secondary schools. Today, the Sacco attracts members across all sectors; civil servants, self-employed persons, and corporate entities. Currently, IG Sacco has a membership of more than 44,180. With an asset base of over 12.96 billion, IG Sacco is one of the largest deposit-taking SACCOs in Kenya.

IG (Invest & Grow) Sacco Products

a) FOSA Products

1. FOSA Loan

Features

The maximum repayment period is 24 months.
Processing Period: within 4 hours.
Qualifications: Ability to Repay Subject to 30% of net monthly salary from the employer.
Requirements: Latest Payslip, Duly filled and signed loan application form.
Security: Non-withdrawable Deposits, Salary, Savings, Guarantors and Sacco acceptable tangible securities.
Multiplier: 10 times your non-withdrawable Deposits.
Salary should have been paid through FOSA for at least 3 Consecutive months.

2. FOSA Plus Loan

Features

Repayment Period: 12 Months
Processing period: Within 4 Hours
Qualifications: Ability to Repay Subject to 30% of net monthly salary from the employer
Documents: Latest Payslip, Duly filled and signed Loan Application Form
Security: Non-withdrawable Deposits, Salary, Savings, Guarantors and Sacco acceptable tangible securities.
Multiplier: 10 times your non-withdrawable Deposits.
Salary should have been paid through FOSA for at least 3 Consecutive months.

3. Akiba Loan

Features

Repayment Period: 24 Months.
Qualifications: Ability to Repay Subject to 30% of net monthly salary from the employer.
Security: Non-withdrawable Deposits, Salary, Savings, Akiba Savings, Guarantors and Sacco acceptable tangible securities.
Processing Period: Within 4 Hours.
Requirements: Latest Payslip, Duly filled and signed Loan application Form.
Multiplier: 2 times your Akiba Savings.

4. Empowerment Loan

Features

Repayment Period: 72 Months
Processing Time: Within 1 Month
Qualifications: Ability to Repay Subject to 30% of net monthly salary from employer
Requirements: Latest Payslip, Duly filled and signed Loan application Form
Security: Non-withdrawable Deposits, Salary, Savings, Guarantors and Sacco acceptable tangible securities.
Multiplier: 10 times your non-withdrawable Deposits.
Salary Earners with a Maximum monthly gross Salary of KES 28,000. The Salary should have been paid through FOSA for atleast 3 Consecutive months.

5. Progressive Loan

Features

Repayment Period: 48 Months
Processing Period: Within 1 month
Qualifications: Ability to Repay Subject to 30% of net monthly salary from the employer
Requirements: Latest Payslip, Duly filled and signed Loan application Form
Security: Non-withdrawable Deposits, Salary, Savings, Guarantors and Sacco acceptable tangible securities.
Multiplier: 10 times your non-withdrawable Deposits.
Salary should have been paid through FOSA for at least 3 Consecutive months.

b) BOSA Products

1. Normal Loan

Features

Repayment Period: 48 Months
Processing period: Within 1 Month
Qualifications: 48 Months Subject to the ability to Repay
Documents: Latest Payslip, Duly filled and signed Loan Application Form
Security: Non-withdrawable Deposits, Salary, Savings, Guarantors and Sacco acceptable tangible securities.
Multiplier: 4 times your Non-withdrawable Deposits.

2. Automobile Loan

Features

Repayment Period: 60 Months.
Qualifications: Subject to the ability to Repay
Security: Non-withdrawable Deposits, Salary, Savings, Guarantors and Sacco acceptable tangible securities.
Processing Period: Within 1 Month.
Requirements: Latest Payslip, Duly filled and signed Loan Application Form.
Multiplier: 4 times your non-withdrawable Deposits capped at KES 900,000 Maximum.

3. Haraka Loan

Features

Qualifications: Subject to the ability to repay.
Maximum Repayment Period: 12 Months
Requirements: Latest Payslip, Duly filled and signed Loan Application Form
Security: Non-withdrawable Deposits, Salary, Savings and Guarantors
Processing Period: Within 4 hours.
Multiplier: N/A
One can apply for Haraka Loan as many times as one can repay.

4. Jipange loan

Features

Repayment Period: 24 months.
Processing Time: Within 4 hours.
Qualifications: Subject to the ability to repay.
Requirements: Certified copy of retirement letter and Duly filled and signed Loan application form.
Security: Non-withdrawable deposits, Savings, Commitment Letter from Pensions Department and at least 3 guarantors.
Multiplier: 1.5 times your non-withdrawable Deposits.

5. Prime Loan

Features

Repayment Period: 72 Months
Processing Time: Within 1 Month
Qualifications: Subject to the ability to Repay
Requirements: Latest Payslip, Duly filled and signed Loan application Form
Security: Non-withdrawable Deposits, Salary, Savings, Guarantors and Sacco acceptable tangible securities.
Multiplier: 5 times your Non-withdrawable Deposits.
Must capitalize dividend annually for the period the loan will be under repayment.