Home business kenya IMARISHA SACCO LOANS INTEREST, JOBS, BRANCHES, CONTACTS, SHORT CODES AND DIVIDENDS

IMARISHA SACCO LOANS INTEREST, JOBS, BRANCHES, CONTACTS, SHORT CODES AND DIVIDENDS

Imarisha Cooperative Savings & Credit Society Limited, also known as Imarisha Sacco Limited, but often referred to as Imarisha Sacco.

Imarisha sacco was established in 1978, under the name: Kipsigis Teachers Sacco, with the support of two teachers’ unions, namely (a) Kenya National Union of Teachers (KNUT) and (b) Kenya Union of Post Primary Education Teachers (KUPPET). With an initial membership of 100 teachers, the objective was to meet the financial needs of teachers, using funds mobilized from the members. In 2014, the society re-branded to its current name and began to accept members outside the teaching profession

IMARISHA SACCO LOANS INTERESTS

Loan Products

Normal/development loan

Open to all members
Amount eligible: 3 times the value of shares held
Repayment period: 48 months
Interest rate: 1% on reducing balance

Emergency Loan

Designed to cater for unforeseen circumstances
Amount eligible: 3 times the value of shares held
Repayment period: 12 months
Interest rate: 1% on reducing balance
Member must have serviced all other loans

Education Loan

Meant to help members pay school/college fees
Amount eligible: 3 times the value of shares held
Repayment period: 12 months
Interest rate: 1% on reducing balance

Premium Loan

Amount eligible: 3 times the value of shares held
Repayment period: 60 months
Interest rate: 1% on reducing balance as well as a 1,5 premium interest recovered upfront.

Re-Finance Loan

Meant for members wishing to re-finance their existing loans
Amount eligible: 3 times the value of shares held
Repayment period: 48 months
Interest rate: 1% on reducing balance

Introductory Loan

Available to new members who are on a salary
Amount eligible: Maximum of Ksh 200,000
Repayment period: 12 months
Interest rate: 1% on reducing balance
One-third (1/3) of the loan given will be capitalised to shares

Pepea Loan

Designed for members awaiting pension payments
Amount eligible: Ksh 10,000 per month for up to 12 months
Interest rate:
Loan and interest will be recovered from pension payments

Sacco has introduced new loan products among them Pamoja, Chapchap, Soko, muwa , Kilimo, Chama, Binafsi, Daraja loans.

IMARISHA SACCO SHORT CODES

HORT CODE	PRODUCT NAME
DE	SHARES
EL	EMERGENCY LOAN
FD	FOSA DEPOSIT
IL	INUA LOAN
LT	LONG TERM ADVANCE
MF	MICRO – LOAN
MS	MICRO- SAVINGS
NL	NORMAL LOAN
PL	PREMIUM LOAN
RL	REFINANCE LOAN
SA	FOSA SAVINGS
SL	SCHOOL FEES
ST	SHORT TERM ADVANCE
WL	WOMEN LOAN
CH	CO-OP HOUSE

Guidelines

MPESA MENU
LIPA NA M-P ESA
GO TO PAY B ILL
Enter Business No. 982 100
Enter Account No. Short CODE plus your ID NO. De133402 00
Enter Amo unt 1 000
PIN No. 1 234

IMARISHA SACCO MOBILE BANKING

By Dialling *882# (Safaricom line) on your phone,
you are prompted with a step-by-step guideline:

Welcome to M-Imarisha1. Bank to M-Pesa
2. My Account
3. Utilities
4. Mobile Loan
5. Other Services
6. Change PIN
7. Exit

Select option e.g. No.1 to withdraw from account to M-Pesa

IMARISHA SACCO DIVIDENDS

it is one of the best SACCO’s in Kenya with high dividends of around 10-13%

IMARISHA SACCO NEWS

Technology
The society has also adopted modern technology which includes the introduction of E-loan dubbed M-Ima loan, Agency banking, Digital Cyber centre, E-guarantors and Biometric system to improve on efficiency and service delivery to its members.

Fosa Senior citizen’s account
The Sacco at the same time launched a savings account that will enable its members save while still in service. This savings will cushion them as they wait for their pension which normally takes long after retirement

Marketing outlets
To increase its market base, Ruto announced, the society will soon open new outlets in Nairobi,Nakuru,Narok,Kilgoris and other target areas.
The delegates in the meeting adopted the chair report and the financial statements.