Chai Sacco Paybill Number 544 200

Chai Sacco Society Limited was registered in 1973 to offer financial services to KTDA employees both at the factories and Head Office.In 1999, Front Office Service Activity (FOSA) was started and has evolved to a fully-fledged Deposit Taking Society with branches in Nairobi and Litein and a marketing office in Mombasa.

Here is how to use Chai Sacco Paybill Number 544 200

•         Go to Mpesa Menu
•         Select Pay Bill from your M-PESA menu
•      Enter Chai Sacco Paybill Number 544 200
•         Enter Your Member Number if paying for share or loans and if making a deposit to your account, enter your Fosa Account Number
•         Enter the amount you wish to pay
•         Enter your M-PESA PIN
•         Confirm details are correct and press OK
•        You will receive confirmation message from Safaricom

Chai Sacco Loan Products.

1.     Main/Development Loan

·       Repayment period 48 Months

·       Interest 1% per month

·       Appraisal fee 0.5%

2.     Emergency Loan

·       Repayment period 12 Months

·       Interest 1% Per Month

·       Appraisal fee 0.5%

3              .      School Fees Loan

·        Repayment period 12 Months

·        Interest 1% Per Month

         ·        Appraisal fee 0.5%

4             .      Product Loan

·        Amount above Kshs. 20,000 repayable in 24 Months

·        Amount below Kshs. 20,000 repayable in 12 Months

·        Interest 1% Per Month

·        Appraisal fee 0.5%

5              .      Super Loan

·        Repayment period 60 Months

·        Interest 1.2% Per Month

·        Appraisal Fee 1%

·        Minimum amount Kshs. 250,000

·        Minimum monthly contributions will be 2,000 +0.25% of the loan

6             .      Jeki Loan

·        For new members with low deposit

·        Maximum of Kshs. 300,000

·        34% retained as BOSA deposits

·        Interest 1.2%

·        Payable in 36 Months

7              .      College/University Loan

·        Repayment period 24 Months

·        Interest 1% Per Month

·        Appraisal Fee 1%

·        Maximum amount Kshs. 100,000

·        Minimum monthly contributions will be 2,000 +0.25% of the loan

8              .      Vision Loan

·        Payable 72 Months

·        Interest 1.25% Per Month

·        Four times the savings

·        Dividend capitalized

·        Appraisal fee 1%

9              .      Salary Advance

·        Salary pay point Chai FOSA

·        Maximum amount of Kshs. 100,000

·        Repayment Period 6 Months

·        Interest 2%

10.   FOSA Loan

·        Granted four times the amount in the deposit account

·        Repayment Period 48 Months

·        Interest 1%

·        Deposit act as part of guarantee

11.   Golden Loan

·        Maximum amount Kshs. 1.5million

·        Maximum repayment period 60 months.

·        Interest 1.33% per month

·        2/3 salary rule

12.   Group Loan

·        Three times the deposit

·        Interest 1.25%

·        Appraisal fee 2%

·        Repayment period 36 months

13.   Okoa Jahazi

·        Maximum amount – 50% of net salary

·        Interest 10%

·        Repayable in 1 month

·        Salaries pay point FOSA

Chai Sacco Loan Requirements

In order for a member of Chai Sacco to qualify for any of the above loans, they must meet the following minimum requirements as set out on the Sacco’s credit policy:

•       Active membership for a minimum of 6 Months
•      Members who transfer their deposits from other Sacco’s will be deemed as a continuing member
•       All BOSA loans should total to three times of members deposits except vision loan.
•      Duly filled loan form.
•       Two Current pay slips.
•       Good Credit history
•      All deductions not exceeding 2/3 of gross salary
•      Active accounts for all loans

Chai Sacco Savings and Deposits products.

     Savings Account

Features of this account include:

·        Minimum account balance Kshs. 500

·        Minimum savings Ksh. 500

·        No ledger fees

·        Minimum interest earning balance Kshs. 3,000

·        Salary can be processed in the account

·        Accessed by ATM/Visa card and M-Sacco

2.      Chai Premier Holiday Account

Features include the following:

·        Minimum monthly savings Kshs. 1,000

·        Attractive interest on minimum balance of Kshs. 5,000

·        Withdrawal once per year

3             .      Chai Angels Junior Account

Features of this savings account include:

·        Minimum Monthly Savings Kshs. 500

·        Operating by the guardian

·        No ledger fees

·        Attractive interest rates 2% above savings account

·        25% discount on bankers cheque

·        Withdrawal thrice per annum

4.  Fixed Deposit Account

The account the following features

·        Minimum deposit Kshs.20,000

·        Minimum period is 1 Month.

·        Negotiable and Attractive interest rates.

·        Quick FOSA loan up to 80% of savings at 1% interest per month.

5.   Group Account

Features of this account include:

·        Group of more than 5 people (including Factory Welfare Groups).

·        Account operated by officials

·        No ledger fees          .      Non withdrawable deposits

·        These are deposits contributed on a monthly basis by members and are used for borrowing from the Society. 

·        A member may top up deposits from time to time and shall only be refunded when a member withdraws from membership.  

·        These deposits are transferable from one member to another.

·        Dividends on deposits are paid annually at a rate that shall be determined by the Board of Directors and approved by delegates at the Annual Delegates Meeting (ADM).

Chai Sacco Contacts:

KTDA Plaza, 4th Floor, Moi Avenue

P.O. Box 278-00200 City Square

Nairobi Kenya

Phone: +254 20 2214406/10

Mobile: 0733 330045 / 0701 314410

Fax: +254 20 22144410

Email: info@chai-sacco.co.ke