Ndege Chai Paybill number 637 637

BusinessNdege Chai Paybill number 637 637
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Ndege Chai saving & credit co-operation society was established and registered in the year 1978. Ndege Chai Paybill number 637 637.

Membership is drawn from employees of Finlays countrywide, Kericho, Nairobi, Mombasa, homegrown in Naivasha and Lemotit farm in Londiani, Kericho County.

Other members come from Schools, hospitals, recreational clubs and churches in Kericho, business community and spouses of members, farmers and out growers.

Ndege Chai Sacco Loan products.

1. Normal Loan

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This loan product and the loan facility is meant to assist a member initiate and finance development projects.


•             Repayment period is 60 months,

•             Interest rate is 14% Per Annum on reducing balance,

•             It is based on 3 times non withdrawable deposits,

•             The loan must be fully guaranteed by 6 members of the Sacco

•             Loan is processed within a month.

2.      Maziwa Loan

The Procedures and Features of the products

·        The applicant must have been a member for the last six months and a member to a dairy cooperative society.

·        Expected income from sale of milk must be channeled through FOSA

·        The Loan amount is 3 times the deposits.

·        The interest rate will be at 17% per annum on a reducing balance.

·        Maximum loan amount will be Kshs. 150,000.

·        The repayment period will be 12 months.

·        At least 4 guarantors who must be Sacco members

·        All applications must be supported by a proposal on how the funds will be utilized

·        Payment of milk throughout the entire loan repayment period must not be changed

·        Direct payments to the suppliers (source of breed) is encouraged

·        Cows bought will have to be  insured and will form part of the collateral for the loan

3.      Jipange Loan

Jipange loan features include:

·        Maximum loan amount- Kshs 250,000.

·        Minimum loan amount- Kshs 5,000.

·        Repayment period- 6 Months.

·        Interest rate- 14% per annum (1.66% per month)- on reducing balance.

·        Guarantors- At least 3 guarantors who are Fosa salary based.

·        Security- 6 months postdated personal Cheques/PRDs.

·        Recover from mid-month.

·        Processed within a day.

·        2/3 Rule mid-month advance.

·        One must have been channeling salary through FOSA account for the past 6 months.

·        Guarantors-liability will be transferred to guarantors if no payments are received within 2 months.

·        No offsetting of Jipange – i.e. must be repaid within stipulated period of 6 months..      Emergency Loan


·        Maximum repayment period is 12 months.

·        The loan has to be guaranteed by 6 guarantors who should be members of the Sacco,

·        The loan is processed within a day and maximum processing period is 1 week,

·        Interest rate is 14% per annum on reducing balance.

5.      Additional Loan

This is a refinancing loan product.

This loan facility is like a top up that facilitates completion of an ongoing project/investment or can start a new project altogether.


·        The loan has to be guaranteed by 6 guarantors who should be members of the Sacco,

·        Maximum repayment period is 48 months,

·        Interest rate is at 14% per annum on reducing balance.

·        It is based on 3 times non withdrawable deposits

·        Loan is processed within a month.

6.     Salary Advance


·        Salary advance is processed and paid in a day and attract an interest rate of 6.5%.

·        50% rule is also taken into consideration in offsetting salary advance.

This is a new product where members have an option of off-setting their existing salary advance at the rate enjoyed by members..     Special Advance

This is a product which facilitates the payment of salary advances when a member presents a postdated Cheque.      Seasonal advance

The Procedures and Features of the products

·        The applicant must attach a certified copy of the contract document as a proof of engagement indicating the remaining term.

·        Expected income must be channeled through FOSA.

·        The Loan amount is 2 times the deposits. The interest rate will be at 8% per month on a reducing balance

·        Loan amount will be determined by appraisal subject to a maximum of Kshs 20,000.

·        The repayment period will be 5 months or the remaining term of the contract.

·        The loan to be guaranteed by at least 3 permanent employees.

9.      Boda boda loan

The features of the product are:

·        Product to be insured

·        Repayment period is 18 months

·        Interest rate is 16% p.a.

·        Has to be guaranteed by 4 guarantors

·        Logbook to be retained by the financier until clearance of the loan

·        Loan to be classified as asset finance

·        Member to contribute Kshs 15,000 of the cost of the motorcycle.

·        Members must not be over committed in the current loans (66% of the salary)

·        Reconciliation account has been opened for this loan product: 5-30-000017

·        Motorbikes will be disbursed on first come first served basis.

Ndege Chai Fosa Products

1.      Personal Account

This account operates like the conventional savings account in financial institutions.

·        Minimum account operating balance is Kshs.500,

·        Makes it very convenient to process member payment and loans,

·        Personal cheques can be deposited in this account,

·        Salary can be paid through this account,

·        Enables a member to access a wide range of credit facilities,

·        ATM cards will be issued for transacting in this account,

·        Cash can be accessed at all Visa and Point Of Sales outlets or over the counter,

·        Attracts competitive interest rates

2.      Childrens account

Members are encouraged to open this account for their children. It helps instill a saving culture for kids when they are still young.

·        Minimum opening balance Kes1,000,

·        Minimum interest earning balance Kes5,000

·        Interest earned is 5% p.a.

·        Accounts operation by parents/guardians.

3.      Christmas / Holiday account

·        The Sacco encourages members to take time off work to relax and savour life.

·        To this end, a member can start a Holiday Savings Plan with the Sacco. Christmas Savings Account also gives members an opportunity to treat their selves well after year end.

·        The plan must have a minimum balance of Kshs. 5,000. Interest is paid into the account once a year.

·        To withdraw from this account a member must give a 30 days withdrawal notice       

4.      Group Savings account

This is an account opened by members of a group.


·        Minimum balance of Ksh 1,000

·        A minimum balance of Ksh 10,000 starts attracting an interest

·        Negotiable interest rates. Fixed Deposit account with negotiable interest depending on amount and period.

·        Withdrawals done on more than seven (7) days after a previous withdrawal attract no charge

·        Group members who must be account holders have access to credit facilities

·        Two passport sized colored photographs of officials/signatories

·        Registration Certificate and constitution

·        Minutes of the meeting held by the group approving the opening of the account

5.      Fixed deposit accounts

Members with liquid cash which they do not intend to use in the near future or have money for a long term project are encouraged to fix it in this account to earn an attractive interest instead of keeping it idle.

·        Minimum interest earning deposit Kes20,000 for 6 months,

·        Negotiable and attractive interest rates,

·        May be used as security against FOSA loans,

·        Free internal standing order on maturity.

6.      Medical Fund account

§  This is a savings account meant to mobilize members’ contributions towards a medical-related scenario. A member contributes a certain amount over time which is saved in this account.

§  The savings in the account attract competitive interest rates.

7.      Akiba Kuu Account

This is a savings facility that takes care of your investment plans with a conveniently short term to medium term investment arrangement.


·        Based on your (net) salary and ability to repay,

·        Savings period of up to 36 months, thereafter a member can notify the Sacco of their intention to withdraw the savings.

·        A regular deposit of any amount is allowed.

·        Interest rate is 11% per annum.

To deposit money to the account or repay a loan using Ndege Chai Paybill number 637 637, here are the steps to follow:

1.      Go to mpesa menu

2.      Click lipa na mpesa

3.      Click pay bill

4.      Enter Ndege Chai Paybill Number 637 637

5.      Enter account number which is membership number

6.      Enter amount to send

7.      Click ok and wait for confirmation message from Safaricom.

Ndege Chai Mobile Banking.

Through the use of USSD code *882#, Ndege Chai members are connected to their accounts and are able to transact from the convenience of their mobile phones.

M-NdegeChai mobile service provides mobile banking services to all members. 

Members are able to transact through their mobile phones anytime anywhere by dialing *882# and following the simple steps provided. And access sercives like;

  •         Balance enquiry,
  •         Withdrawal
  •         Funds transfer
  •         Airtime top up
  •         Change pins
  •     Transfer from account to M-Pesa,
  •     Utility payments; e.g. electricity, water, post paid services,
  •     SMS alerts e.g. Salary entry, payment/withdrawals from account
  •     Balance inquiry

It is a simple process of bringing the financial services of Ndege Chai Sacco closer to the people.

Ndege Chai Sacco contacts.                   

You can always contact Ndege Chai Sacco through the following

Head Office (Kericho Town)

Phone: (+254)052- 30121 / 20 – 155

Email: info@ndegeChaiSacco.com

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