DEPOSIT QUERIES

What is minimum contribution? The minimum contribution is Ksh 1,600 per month. What is the difference between deposits and shares? Deposits are the monthly contributions a member pay towards the Sacco. This can be used as either security to members loans or guarantee six other members. Interest is earned on deposit and calculated on pro [...]

MEMBERSHIP QUERIES

Who is legible to join the Sacco? Members of ICPAK and employees of practicing accountants A registered ICPAK member with non-practicing certificate Fully qualified accountants who are not members of ICPAK Employees of institutions that offer accountancy training Members of ICSK and their employees Spouses and children of Mhasibu members Students pursuing finance and accountancy[.....]

GUARANTORSHIP AND LOAN SECURITY QUERIES

Do I need a guarantor if my loan application is equivalent to my deposits? No, you do not need a guarantor. If the loan applied does not exceed your deposits. If your deposits are not attached to any loan. How many guarantors do I need? The Sacco has no minimum or maximum guarantors. It all[.....]

LOAN QUERIES

When do I qualify to take a loan? You qualify to take a loan after six months of consistent contribution of the monthly minimum requirement of KES 1,600 per month What is the maximum loan limit I am entitled to? You are entitled to a maximum loan equivalent to four times your total savings (shares[.....]