by Ksacco

1. How do I become a member?

Membership into Kingdom Sacco is open to duly registered individuals and corporates. One will be required to fill out a registration form and provide a copy of the ID, one passport and a copy of PIN certificate. Individual membership registration is Ksh.550/= while Corporate registration is Ksh1,100/=

2. How do I access a loan and how long does it take to get a loan as an individual and corporate? and who is eligible for a loan, what is the time frame for a loan?

Eligibility for a loan is dependent on the account type to a minimum of 3 – 6 months after buildup of minimum share capital and deposits required to qualify for the amount required.

One can access a loan through individual guarantee with a valid collateral or guarantors within a house structure.

The time frame for a loan disbursement is dependent on the loan amount and collateral being offered.

3. How do I qualify for a fourth and fifth multiplier?

Qualification of a fourth multiplier is based on the following 4th conditions having been met.

  1. 4th Multiplier for members with BOSA deposits of Kshs. 100,000 saved consistently, Minimum Share Capital of Ksh.6,000 and membership for at least 4 years.
  2. 4th multiplier for members with BOSA deposits of Kshs. 100,000 saved consistently, Share Capital of Ksh.50,000/= and membership for at least 2 years.

Qualification for a fifth multiplier is as follows:

  1. 5th multiplier for members with BOSA deposits of Kshs. 250,000 saved consistently, Share Capital of Ksh.100,000/= and membership for at least two (2) years.
  2. 5th multiplier for members who, despite having the minimum share capital of Kshs. 6,000, have demonstrated consistent membership and BOSA savings for at least seven (7) years.

4. What is the cost of the loan?

The cost of a loan is subject to the following:

  1. a) Amount being advanced which determines the loan processing fee of 1% value of disbursed amount and insurance therein
  2. b) Loan repayment period
  3. c) Loan product being offered to any particular member.
  4. d) Security perfection fees based on the asset being used to secure the loan

5. How do I buy additional shares and what is the benefit or gains

Increase or buildup of additional shares can be done by filling out a form and indicating the amount for buildup which can be done on a monthly basis. This ensure that the institutions’ capital base is strong, the member earns dividends annually, and it builds up the borrowing power of the individual member because it builds the institutional lending base.

6. How does the delegate system work?

The delegate system is stemmed at ensuring that all the members’ of Kingdom Sacco are represented in the Annual members’ meeting which takes place once a year. The delegates are sourced from existing active house leaders who have served as leaders for two years and maintained a good track record in Kingdom Sacco.


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