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Loan Application Requirements PDF Print E-mail
Written by Administrator   
Wednesday, 29 January 2014 12:11

All Loan Applications: Normal / Short Term/ Re-Purchase/Refinancing/ School Fees, Should be accompanied With;


  1. copy of Applicant’s ID
  2. copy of the referee’s ID
  3. copy of Applicant’s PIN certificate
  4. all guarantors’ ID copies
  5. 3 months’ certified pay slips
  6. 3 months’ bank statements
  7. utility bill (not more than 3 months old)


  1. Certified 12 month’s bank statements
  2. Personal financial/ Income statement supported and certified by a practising auditor
    1. average gross/ Income per month
    2. Less expenditure
    3. Net income



Please comply with the above requirements to help us serve you better..

Last Updated on Tuesday, 03 January 2017 13:09
MHCL Queries PDF Print E-mail
Written by Administrator   
Wednesday, 24 July 2013 12:00

1. Is Mhasibu Housing Company Limited (MHCL) and Mhasibu Sacco the same thing??

  • No, MHCL is fully owned subsidiary of Mhasibu Sacco which operates independently from the Sacco. MHCL is involved in mobilizing Sacco members and other stakeholders who are interested in acquiring prime plots among other things. On the other hand Mhasibu Sacco is primarily involved in offering saving and credit products to its members

2. Where are MHCL offices?

  • MHCL offices are currently located together with those of the Mhasibu Sacco at View Park Towers 6th floor along Uhuru Highway, but the two organisations remain independent.


3.  Do I have to register to buy a plot through MHCL?

  • No, Sacco members automatically qualify to participate in MHCL plots at a discount and without any registration fees.


4.  Can I use Mhasibu Housing Company plot to guarantee a loan in the Sacco?

  • Yes, once the title deed is out and one is willing to have the charge on the title registered. Please note that at the time of paying for MHCL plot, you cannot use the same plot as loan security until the title deed is ready.


5.  Where can I get more information about Mhasibu Housing Company Limited (MHCL)?

  • Please visit MHCL website http://www.mhasibuhousing.co.ke/, for more information on its activities and projects.


end faq

Last Updated on Wednesday, 26 March 2014 10:24
Payment Queries PDF Print E-mail
Written by Administrator   
Saturday, 20 July 2013 14:05

1. How can i make payments to the Sacco?

The Sacco offers the following modes of payments;
  • Mpesa via pay bill number 540700- the a/c number is your membership number.
  • Standing orders – please indicate your membership number on the instruction form
  • Deposit slips- make payments to our bank accounts then present the banking slips
  • Cheque payment done at Sacco offices
NB: Please note that Sacco does not accept cash payments

2.  What are your bank details?

The Sacco operates two main current accounts as follows;

  • Commercial Bank of Africa (CBA)
  • Mama Ngina Branch
  • A/C 6435220015


  • Co-operative Bank of Kenya
  • University Way Branch
  • A/C 01120040136100


end faq

Last Updated on Friday, 06 June 2014 11:44
Dividend Querries PDF Print E-mail
Written by Administrator   
Saturday, 20 July 2013 14:06

1. Am I entitled to Dividend?

  • Yes, the Sacco pays dividend (Interest on deposit and dividend on share capital) every year to all the members who had balances in deposits or share capital for the financial year ended. Deposit earns interest on deposit on pro rata basis which means you don’t have to hold dividend for full year to earn interest. On the hand any balance on share capital as at close of financial year is entitled to dividend at rate to be recommended by the management committee.

2.  What do I need to do to get my Dividend?

  • You need to ensure that the Sacco has your current bank details since all dividend payments are paid via EFTs Bank transfers

3.  When are the dividend paid?


  • The Sacco pays for dividend after approval by the Annual General Meeting which is done each year in April. The dividends are usually paid a two weeks      after.


4. How are Dividend computed?


  • Dividend is made up to two components that interest on deposits and dividend on share capital.
  • Interest on deposit is computed on pro rata and compound basis at a rate to be recommended by management committee and approved by Annual General Meeting (AGM). The Sacco has uploaded a template on the website (On this link) to assist members who would wish to confirm/ compute their interest on deposits.
  • Dividend on share capital is computed based on closing balance at the end financial year at a rate recommended by management committee and approved by the Annual General Meeting.


end faq

Last Updated on Tuesday, 23 July 2013 13:28
Guarantorship Loan Security PDF Print E-mail
Written by Administrator   
Saturday, 20 July 2013 14:00

1.  Do I need a guarantor if my loan application is equivalent to my deposits?

  • No, you don’t need a guarantor long as the loan applied does not exceed your deposits.

2.  How many guarantors do I need?


  • The Sacco has no minimum or maximum guarantors. It all depends on you and the loan amount applied for. Ideally ones deposits and guarantor’s deposits must be equal to or more than loan amount subject to risk exposure.


3.  What other collateral or loan security can I use??

The Sacco allows use of other loan securities namely;

Log books (50% of valuation)

Vehicles asset financing loan (75% or 90% of car valuation for used and new cars respectively)

Stocks listed in NSE (50% of valuation)

Title deeds for Mhasibu Housing plots (75% of Market valuation)

MICL Shares (100% of cost)

Life insurance policies with a surrender value

Unit trust deposits

4.  How many members I have guaranteed??


  • You can confirm how many people you have guaranteed at any time anywhere using the Mhasibu Online User Account.


end faq

Last Updated on Monday, 29 July 2013 14:44

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