List Of Qwetu Sacco Branches And Contacts

This is a list of Qwetu Sacco branches and contacts. Qwetu Sacco, formerly Taita Taveta Teachers Sacco, is a deposit-taking Sacco headquartered in Wundanyi, Taita-Taveta county. With an asset base of more than 3.22 billion, Qwetu Sacco is one of the largest Saccos in Kenya.

Since its establishment in 1968, Qwetu Sacco has seen tremendous growth. The Sacco boast of a membership of more than 40,000. These members are mainly from the teaching fraternity, government ministries, businesses, and the county government.

List Of Qwetu Sacco Products

a)Front Office Service Activity (FOSA) Products

FOSA Savings Accounts

1. Ordinary Savings Account

Features

  • Minimum operating balance Kshs. 1,000
  • Salary & pension processing
  • Access to FOSA advances and FOSA loans

2. Qwetu Farmers Account

Features

  • Minimum Operating Balance Kshs. 500
  • Farmers payout processing
  • Access to Agri-business Loans

3. Qwetu Chama Account

Features & Requirements

  • Group registration certificate
  • Minutes and Copy of group constitution
  • Members list, at least 7 members
  • Minimum opening & operating balance Kshs. 1,000
  • Access to microcredit loans
  • Access up to 75% LPO Financing

4. Qwetu Association Account

Features & Requirements

  • Certificate of Registration
  • Minutes & copy of constitution / by-laws
  • Minimum operating balance Kshs. 1,000

5. Qwetu Jibambe Account

Features

  • Earns 6% p.a interest
  • No Minimum Operating Balance
  • Minimum Opening balance Kshs. 1,000
  • Maximum withdrawal twice per year
  • Organized & discounted holiday rates
  • Holiday/Gift shopping vouchers/withdrawals

6. Toto was Qwetu Account

Features & Requirements

  • Children’s Account
  • Must be below 18 Years
  • Produce child’s birth certificate
  • Earns 6% p.a interest
  • Free branded Piggy Bank
  • Annual fun day
  • Minimum operating balance Kshs. 1,000
  • Maximum withdrawal three times per year

7. Qwetu Super Deposits

Features

  • Earns 10% p.a interest
  • Interest payable after 90 days
  • Redeemable anytime
  • Minimum opening balance Kshs. 2,000
8. Retirement Savings Plan
Features & Requirements
  • Must be employed or self-employed.
  • A minimum contribution of Kshs. 500/= per month.
  • Earns 10.5% interest p.a
  • Interest payable in full upon retirement
  • Redeemable upon retirement

9. Fixed Deposits

Features & Requirements

  • Minimum Amount Kshs. 10,000
  • Minimum Period 3months
  • Earns up to 9.5% p.a interest
  • Redeemable anytime

10. Emergency Funds

  • Savings for unforeseen eventualities
  • Redeemable anytime

11. FOSA Advances

Features & Requirements

  • Processed & disbursed immediately
  • Processing fee Kshs.200
  • Must operate FOSA Salary account
  • Must channel salary through FOSA for at least 1 month
  • Must contribute to Member Protection Scheme
  • Must contribute Share Capital

12. FOSA Personal Loans

Features & Requirements

  • Must operate FOSA Salary account
  • Must channel salary through FOSA for at least 1
  • month
  • Must contribute to Member Protection Scheme
  • (MPS)
  • Must contribute minimum Share Capital
  • No BOSA shares are required during an appraisal
  • Minimum Amount Kshs.10, 000.
  • Interest as low as 1% per month
  • Processing fee 2.5% of the loan amount
  • Repayment period 6-48 months
  • At least 3 guarantors
  • Processed & disbursed immediately
  • Must retain minimum net take home of Kshs. 3,000/=for 12 months & Kshs. 5,000 for loans above 12 months
  • Must operate FOSA Salary account
  • Must channel salary through FOSA for at least 1 month
  • Must contribute to Member Protection Scheme
  • Must contribute Share Capital

b) Back Office Service Activity (BOSA) Products

1. BOSA Personal Loans

Features

  • Loan Processing Fee 2%
  • Low-interest rates of 1% per month (6.5%p.a)
  • Interest charged on Reducing Balance basis
  • Loans are deducted using a fully Amortization Method
  • Loan repayment period 6 – 84 months (7 years)
  • Fully paid up minimum Share Capital
  • Up-to-date MPS contribution
  • Loan multiplier up to 5 times of long-term deposits/spif shares

2. SPIF Loan

Features

  • Interest 1% on reducing balance
  • Repayment: up to 36 months
  • Processed immediately
  • Must have SPIF share

3. Qwetu Smart Loan

Features

  • Interest 1% on reducing balance
  • Repayment period 12 – 36 months

4. School Fees Loan

Features

  • Interest: 1% on reducing balance
  • Repayment Period 6 – 12 months
  • Processed immediately

5. Emergency Loan

Features

  • Interest 1% on reducing balance
  • Repayment period 6 – 12 Months
  • Processed immediately

6. Qwetu Super Loan

Features

  • Interest 1.25% on reducing balance
  • Repayment period 37 – 72 Months

7. Qwetu Development Loan

Features

  • Interest 1.5% on reducing balance
  • Repayment period 73 – 84 Months
  • Minimum loan Kshs. 500,000

8. Preferential Loan

Features

  • Processed & disbursed immediately
  • Repayment period 6 – 84 months (7 years)
  • The interest rate for the loan is 1% per month on reducing balance.
  • 100% capitalization of long-term deposits interest for at least three years consecutively.

9.MIcro SPIF Loan

Features

  • Interest 1.5% p.m. reducing balance
  • Duration 6-48 months
  • Minimum loan Kshs. 500,000
  • Multiplier of *5 times

10. Wezesha Biashara Loan

  • Interest 1% pm flat rate
  • Duration 6-36 Months.
  • Minimum loan Kshs. 300,000/=
  • Multiplier of five* (5 times)

11. Micro Elimu Loan

Features

  • Loan multiplier of three (*3 )times
  • Interest at 1.5% p.m.
  • Repayment period 6 – 12 months.

12. Asset Financing

  • Loan multiplier three (*3) times for the new members
  • Loan multiplier five (*5)times for existing Members
  • Repayment period 6 – 36 months
  • Interest at 1.5% p.m.
  • Co-ownership
  • Asset financed becomes part of the Security of the Loan

13. Qwetu Biashara Loan

Features & Requirements

  • Loan multiplier five (*5) times
  • Loan repayment period 6 – 36 months
  • Members save more than 8 weeks.
  • Interest at 1.5% P.m

14. Kilimo Biashara Loan

  • Loan multiplier five (*5) times
  • Repayment period 6-36 months
  • Loan appraised purely on Agri-business.
  • Interest at 1.5% p.m.
  • Members of the group save for at least 8 weeks
  • Members co-guarantee each other.
  • The maximum loan amount depends on the borrowing power of an individual.

c) Micro Credit Services

1. Qwetu Micro Elimu Loan

  • Loan multiplier ar 5 times.
  • Interest at 1.5% p.m (18%p.a).
  • The maximum repayment period is 12 months.

2.Boda Boda Loans

  • Loan multiplier 3 times for the new member
  • Loan multiplier 5 times for existing members.
  • Maximum repayment period of 12 months.
  • Interest at 1.5% P.m i.e 18%p.a.
  • Bodaboda/Asset becomes part of the security of that loan.

3. Biashara Group Loan

  • Loan multiplier five times.
  • Minimum repayment period 6 months.
  • Loan appraised purely on business.
  • Members of the group save more than 8 weeks.
  • No Grace period.
  • Maximum loan amount depends on the borrowing power

4. Kilimo Biashara Loan

  • Loan multiplier five times.
  • Minimum repayment period 6 months.
  • Loan appraised purely on Agriculture.
  • Members of the group save more than 8 weeks.
  • A grace period of 2 months.
  • Maximum loan amount depends on the borrowing power

5. Group Formation

  • Must have at least 7 members
  • The group must have a constitution.
  • The group must be registered with the Ministry of Social Services and given a certificate.
  • The group must open a group account with Sacco.
  • Individual members must acquire

6. Special Investment Fund

  • Registered and contributes SPIF shares
  • Processing: Loan deposited within 1 month.
  • Interest: 1% on reducing.
  • Multiplies: 5 times your SPIF shares.
  • Repayment: Maximum 36 months.

7. Qwetu Smart Loan

  • Processing: Once every month.
  • Interest rate: 1% on reducing.
  • Repayment: 36 months.
  • Multiplies: 5 times long-term deposits.

8. School Fees Loan

  • Processing: Immediately.
  • Interest: 1% on reducing.
  • Repayment: 12 months.
  • Multiplies: 5 times long-term deposits.

9. Emergency Loan

  • Processing: Immediately. Interest: 1% on reducing rate.
  • Repayment: Maximum 12 months. Amount: KSHs 20,000.
  • Shares multiplies: 5 x long-term deposits.

List Of Qwetu Sacco Branches And Contacts

1. Qwetu Sacco Head Office

Location: Tatecoh Building, Wundanyi Town

Phone: +254 728 957 585 , +254 728 536 1 69

Email: info@qwetusacco.com

2. Voi Branch

Contact: +254 728 483 398

3. Mwatate Branch

Contact: +254 716195 625

4. Taveta Branch

Contact: +254 728 483 321

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Victor Matara

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