Kimisitu Sacco Paybill Number 911 200

Kimisitu Sacco was formed in March 1985 by a group of Staff from ICRAF. Kimisitu Sacco Paybill Number 911 200

Kimisutu Sacco members can make deposits and repay loans comfortably from the comform of their homes through Mpesa Paybill number 911 200.

Here are the easy steps to follow.

1.      Go to Mpesa menu

2.      Select Lipa na Mpesa

3.      Select Paybill

4.      Enter Kimisitu Sacco Paybill No. 911 200

5.      *For account number, Enter your National ID number, followed by the transaction code-see table on codes below

6.      Enter the amount to send

7.      Enter Mpes pin.

8.      Confirm details and send.      ** Example 1:

•         Monthly deposit KSh. 3,000
•         Reference (ID NO. and Transaction code-12345678D)
•         Amount to enter for the transfer KSh. 3,033

     **Example 2:

•         Loan Repayment for development loan of KSh. 36,500
•        Reference (ID NO. and Transaction code – 12345678NL)
•        Amount to enter for the transfer KSh. 36,694

The society was formed mainly to promote thrift among its members by affording them an opportunity for accumulating their savings;

And to thereby create a source of funds from which loans can be made to them exclusively for provident and productive purposes, at fair and reasonable rates of interest;

Thereby enabling them to use and control their money for their mutual benefit.

Kimisitu Sacco Loan Products

1     1. Instant Loan:

     Features include

• The Maximum Limit is Kshs. 400,000
• Security: 1 guarantor
• Deposits Requirement:  None
• Limit based on salary Double net pay
• Interest Rate: 10% per month on reducing balance
• Repayment Period: 6 months
• Turn Around Time:  12 hours for amounts up to Kes. 400,000 the office to authorize fully
• Repayment Mode: Postdated cheques, Direct Debit,  Standing order or check off
• Default notice and recovery: Recovered from deposits 2 months of non-payment. Member blacklisted for 6 months from getting such a facility Member pays back his deposits

2    2.      Motor vehicle and machinery loan

       Features of the loan include:

• Member deposits not considered.
• Loan repayment period up to 60 months
• Financing up to 100% car value
• Loan open to bridging by mega loan
• Interest at 1.35% per month on reducing balance.
• Guaranteed by 60% value of the car & 40% guarantors/ collateral.

      3.     Premier loan

       Features of the loan facility are:

• Loan repayment period up to 60 months
• Borrow up to KSH. 15,000,000.
• Interest at 1.3% per month on reducing balance.
• Option to offset other Sacco loans.
• Bridge Sacco loans at 5% commission

4.      Mega Loan:

Mega Loan is a loan product with the following features:

·        Loan repayment period up to seventy two (72) months. ·

·        Can be taken as a stand-alone loan. ·

·        Can be used bridge Development, Home Development and Mavuko loans. ·

·        Can be used to buy loans from other financial institutions. ·

·        A one off charge of 3.5% of loans being bridged or bought will be charged. ·

·        Can be secured through guarantors and/or collateral. ·

·        Interest at 1.2% per month on reducing balance. ·

·        2/3 rule applies where applicable.

·        Loan will be given up to three times a member’s deposits. ·

·        Proof of other sources of income apart from payroll applies.

5.      Bridging LoanThe bridging loans provides members with the opportunity to consolidate their short term loans into one loan and spread out the repayment over a longer period of time. Features include:

• 5% interest charged as a one-off payment on loan balances being cleared.
• Maximum repayment period is 24 months
• Two thirds rule will apply
• Must be fully guaranteed
• Granted within 2 weeks.
• No maximum set limit and granted once a week
• Interest rate is 1% per month on reducing balance

6     6.   Masaa Loan

      The features of the loan are:

• Loan to be applied and processed within 24 hours
• It should be guaranteed and has to be within three times shares limit
• Repayable within 12 months
• Interest rate is 1.25% per month on reducing balance.
• Processing fee of 1 %( minimum Kshs 1,000) of the loan applied can be charged to cater for bank and administration charges.

7.      Motor Vehicle Insurance loan

The loan provides an avenue for obtaining hassle free, affordable, motor vehicle insurance financing.
Features:

• Maximum repayment period is 12 months.
• Two thirds rule will apply.
• Must be fully guaranteed.
• Granted three times of members deposits.
• Interest rate is 1% per month on reducing balance.
• Available immediately and granted once a week.
• Maximum set limit is one year’s premium payable.

8.     Mavuko LoanThe Mavuko loan provides bridging finance for normal development and home development loans. Members can ease their financial obligations by using the Mavuko loan to combine their development loans into one loan repayable over a longer period.

Features:

• Disbursed within a month after application.
• The home and normal development loans to be bridged should have been paid for a period of not less than 2 months.
• It should be guaranteed and has to be within the three times deposits limit.
• 5% interest charged as a one-off payment on current loan balances being cleared.
• Interest rate of 1.1% on reducing balance.
• Payable within forty eight months.

        9.    Top up emergency

There is an option to top up your emergency loan through the Top Up Emergency Loan. It’s futures are:

• Loan repayment period of up to 12months
• Granted weekly
• Need not attach copies of documentary evidence
• Interest rate of up to 1% per month reducing balance

10.  Education LoanFeatures:

• Maximum repayment period is 12 months
• Granted once a week.
• Need not attach copies of documentary evidence
• Interest rate is 1% per month on reducing balance
• Granted three times the member’s deposits

11.  Emergency LoansEmergency loans enable our members to pay for emergencies such as hospital bills or  fire .There is an option to top up your emergency loan through the Top Up Emergency Loan.
Features

• Maximum repayment period is twelve months.
• Need not attach copies of documentary evidence
• Interest rate is 1% per month on reducing balance
• One must be having an existing emergency loan to qualify for a top up emergency loan.
• Granted three times the member deposits
• Applications must be received by COB every Friday to facilitate processing for payments.

12.  Refinancing LoanRefinancing Loan enables members complete their development projects.
Features

• A member must have a home development or a normal development loan to qualify for a refinancing loan
• Maximum repayment period is 18 months
• Maximum amount granted is three times a member’s shares less all outstanding loans.
• Granted once a week.
• Interest rate is 1% per month on reducing balance

13.  Home development LoanFeatures of the loan product include:

• Maximum repayment period is forty eight (48) months.
• Loan granted is three times the member’s savings less all outstanding loans provided that one third rule is not violated.
• The maximum loan granted shall be Kshs 10,000,000.
• The loan is granted once a month.
• Interest rate is 1% per month on reducing balance

14.  Normal Development LoanFeatures of the loan include:

• Maximum repayment period is sixty (60) months.
• Loan granted is three times the member’s savings less all outstanding loans provided that the one third rules, is not violated.
• Interest rate is 1% per month on reducing balance.
• Disbursed  
• within one month after application

Kimisitu Sacco Savings Product

      1.      Members’ depositsMembers Deposits provides a solution for members seeking to save securely and earn dividends at premium rates.
Members deposits also enable members access our affordable credit products by using their deposits as guarantees.
Features:

• One has to register as a Kimisitu member.
• Minimum monthly share contribution is Kshs 3,000

2.     Holiday Savings Account Plan for your stress free holiday by saving through our Holiday Savings Account. This account is easy to open, offers competitive rates of interest and has no ledger fees.
Features

• Allows you to save for a minimum of six months.
• You can withdraw all your savings and start afresh thereafter.
• Attractive interest rate paid on withdrawal.
• Statements every quarter.
• No charges.
• Minimum monthly deposit is Kshs 1,000.

Eligibility:

• One has to register as a Kimisitu member.
• An interested member fills a holiday savings application form
• Only copy of I.D. required.

3.     Little Angels Savings AccountFeatures:

• Member can open an account for children; the account will be in the name of the child/children but operated by the member.
• Opening and minimum operating balance Kshs: 500
• Minimum monthly contribution amount Kshs. 500, can be effected via check off or direct deposits to our account. Lump sums can also be made. (Upon activation of the new system members will be able to make deposits via mobile banking )
• Minimum withdrawal period after 1 year with compounded interest of 3.0 %.
• Withdrawal notice is 7 days.
• Partial withdrawal is acceptable.

Kimisitu Sacco Contacts

Kimisitu Plaza,Woodlands Road, opposite IFRC

P.O.Box 10454-00100,Nairobi,Kenya

               + 254 020 2733601/3

               + 254 0724 310 626 | 0714 611495 | 0735 000012 | 0731 000196

General Inquiries:  info@kimisitusacco.or.ke

Customer care, customercare@kimisitusacco.or.ke,

 Loans: loans@kimisitusacco.or.ke

 Finance: finance@kimisitusacco.or.ke