This article focuses on Strategic DT Sacco membership eligibility and requirements. Strategic DT Sacco was formed in May 2007 to serve all the employees of Strategic Industries Limited from where it drew its members.
Since then, the Sacco has opened bond and accommodates many employees of the business community. It was mainly formed to create a pool of savings from which the members could borrow at affordable interest rates.
Strategic DT Sacco Membership Eligibility
Membership is open to all persons from different segments of the market, not less than 18 years of age.
Strategic DT Sacco Membership Requirements
- A duly filled membership application form is available on the Sacco’s website.
- Registration fee of Kshs 1,000.
- Copy of ID and KRA PIN.
- Minimum monthly contribution of Kshs 1,500.
- Minimum shareholding by a member is Kshs 10,000.
Strategic DT Sacco Products
(a). Savings Products
(i). Sacco Junior Account
- Minimum monthly saving is Kshs 200.
- Withdrawal from the account is done once every year.
- Withdrawal before the year is over may be permitted at a charge of Kshs 500 per withdrawal.
- Minimum interest earning balance is Kshs 3,000.
- The account attracts no monthly charges.
- Children will receive birthday wishes every year.
(ii). Holiday Saving
- Allows you to save for a minimum of 6 months.
- You can withdraw all your savings and start afresh.
- Minimum monthly deposit is Kshs 200.
(iii). Member Deposits
- Is a solution that enables members to save securely at a rate.
- Minimum monthly contribution of Kshs 1,500.
(b). Credit Products
(i). Development Loan
- Loan processing fee is Kshs 500.
- Maximum repayment period of 36 months.
- Low interest rates of 1% per month on reducing balance.
(ii). Business Loan
- Multiplier is 3 times member’s savings.
- Savings up to 6 months.
- Flexible repayment period of up to 48 months.
- Low interest rate of 2% per month.
(iii). Emergency Loan
- Multiplier is 3 times members savings.
- Maximum repayment period is 12 months.
- Loan processing fee of Kshs 300.
- Low interest rate of 1.25% per month on reducing balance.
- Payment is done within 24 hours.
(iv). Asset Finance
- Multiplier rule applies.
- Up to 50% financing.
- Maximum repayment period of up to 36 months.
(v). School Fees Loan
- Multiplier is 3 times members savings.
- Savings up to 6 months.
- Maximum repayment period is 12 months.
- Low interest rate of 1.25% per month on reducing balance.
- Loan processing fee of Kshs 300.
(vi). Refinancing Loan
- It is a top up facility for members on development loan.
- A 5% charge on outstanding loan balance.
- To facilitate top up, a member must have paid the current up to at least 2/3 of the principal.
- A member should have cleared all outstanding sacco loans except development loan to be refinanced.
(vii). Express Loan
- Maximum loan amount of Kshs 20,000.
- Minimum savings of one month.
- Maximum repayment period is 5 months.
- Low interest rate of 5% on reducing balance per month.
- Loan processing fee of Kshs 100.
(viii). Golden Loan
- Maximum loan amount of up to a member’s savings.
- Savings up to 3 months.
- Maximum repayment period is 10 months.
- Low interest rate of 4% on reducing balance per month.
- Loan processing fee of Kshs 300.
(ix). Instant Loan
- Maximum loan amount is Kshs 10,000.
- Maximum repayment period of up to 3 months.
- Interest rate of 10% on reducing balance.
- Loan processing fee of Kshs 100.
(x). Product Loan
- Loan is multiplied 3 times your deposits less any outstanding loan balance.
- No processing fee is required.
- Maximum repayment period of 6 months.
- Low interest rate of 2% per month on reducing balance of the product value.
Strategic DT Sacco Contacts
Location: 3rd Floor, Lunga Lunga Square, Along Lunga Lunga Road, Industrial Area, Nairobi.
Contacts: 0799 213 432/ 0799 848 832.
