Kenya Police Sacco Loans, Membership
Kenya Police Sacco strives to provide diversified, reliable, accessible and affordable financial products and services to its members
Its operation officially began in 1973 with an aim of mobilizing savings and providing affordable credit facilities to all its members. It has elected 12; 9 from the board of directors and 3 the supervisory committee.
Kenya Police Sacco Portal
The Kenya Police Sacco portal can be accessed here whereby all information related to Sacco loans and savings can be accessed.
Kenya Police PayBill Number
The PayBill Number for Kenya Police Sacco is 4027903
How to Make a Deposit to Your Kenya Police Sacco via PayBill Number
- Go to the M-Pesa menu and select the lipa na M-PESA option
- Select the Pay Bill option
- Enter Kenya Police Sacco Business Number 4027903 (PayBill Number)
- Input Your FOSA Account 502****00 as the account name.
- Enter the amount you wish to send and press Ok
- Enter your M-Pesa pin
- Confirm if the details are correct then press Ok
- After successful submission, you will receive a confirmation SMS from M-pesa
Kenya Police Sacco Membership
The society revised its by-laws to open the common bond. All genders can apply or the membership as long as they have the following qualifications:-
- Serving and retired Regular Police Officers
- Serving and retired Administration Police Officers
- Civilian in the employment of the Kenya Police Service
- Employee of the Kenya National Police DT Sacco
- Permanent employee of the Utumishi Investment Limited
- Permanent employee of Ruaraka Housing Estate Limited
- Employee of civil services
- Employee from corporate entities operating in Kenya
- Business community
- Spouse ,son, daughter of the above members
BENEFITS OF MEMBERSHIP
- Low interest on loans
- High annual dividends and interest on deposits
- Instant M-Tawi FOSA loans
- Loan clearance on behalf of members
- Affordable property with investment co-operative
PRODUCT AND SERVICES.
The Sacco offers 5 products;-
- CREDIT PRODUCTS
- SAVINGS PRODUCTS
- M-TAWI
- MICRO CREDIT
- HOME LOAN
- OTHER SERVICES
CREDIT LOANS
The Sacco offers Back Office Service Activity (BOSA) a wide range of products. This where the members Personal accounts are maintained. Monthly deposits are pegged at 12% of basic salary. All loans are dispersed through POFOSA. Products at BOSA include:-
Premier Loan
- Salary must pass through FOSA
- 84 months repayment period
- 4 times members deposits
- Interest 15% p.a on reducing balance
- Monthly deposit contribution of 12% of basic salary.
Mega Loan
- Repayment period is 72 months
- 3 times members deposits
- Interest rate is 14.7% on reducing balance
- Salary must pass through POFOA
- Minimum deposit contribution of KES 300,000
- Monthly deposit contribution of 12% of basic salary
Super Loan
- Repayment period is 60 months
- 3 times members deposits
- Interest is 14% on reducing balance
Normal Loan
- Repayment period of 48 months
- 3 times members deposits
- interest rate is 12% on reducing balance
Refinancing Loans
- Repayment period of 48months
- 3 times members deposits
- Interest rate is 12% on reducing balance
Emergency Loans
- Repayment period is 12 months
- 3 times members deposits
- Interest rate is 12% on reducing balance
School Fees
- Repayment period is 12 months
- 3 times members deposits
- Interest rate 12% on reducing balance.
Muslim Loan
This is available to all Muslim members
- 2 times members deposits
- Repayment period is 48 months
- No interest is charged on the loan
- One of commission of 2.5% of the applied amount is charged
- The members who applies for this loan is not eligible to get dividends
Muslim Emergency Loan
Available to all Muslim Members
- 2 times members deposits
- Repayment period is 12 months
- No interest is charged on the loans
- One of the commission of 12% of the applied amount is charged
- The member who applies for this loan is not eligible to get dividends
Asset Financing Loan
The Sacco has partnered with various providers to help members purchase water tanks, solar panels and household electronic appliances.
- Repayment period is 24 months
- 3 times members deposits
- Interest rate is 12% on reducing balance
Salary Advance
Salary advices are available to members whose salary is processed through the POFOSA. There are 3 salary is advance products and they include:
- M-Sasa : This product is repayable in 3 months duration and at interest rate of 2% per month
- FOSA Flex: Is a product repayable in 6 months and at an interest rate of 3% per month
- FOSA Golden: This is a newly introduced product, it is repayable within 9 months at an interest of 4% on reducing balance.
SAVINGS PRODUCTS
Here members are given chances to open an account where they can make deposits and accrue savings, which shall be available at their convenience;
- Holiday account
- Junior account
- Group/corporate account
- Business account
- Fixed deposit account
Q-CASH
A maximum of 20,000 is available to all members who have deposits of 15000kes and above repayable in a month and 5% is charged on disbursement.
Kenya Police Sacco Dividends
DIVIDEND ADVANCE
This advance is available to all members who received dividends the previous year. They can access up to 50% of their dividends. The Sacco charges 10% on the amount advanced.
Kenya Police Sacco Contacts
Kenya police Sacco has its offices as follows:-
Kenya Police Sacco has its main headquarters in Nairobi;-
Ngara Road, off Muranga Road, P.O Box 51042-00200, Nairobi
Its sub-branches are all over the country; these are
- MOMBASA BRANCH
Jubilee arcade Moi Avenue near Pombe Za Ndovu
Tell- 0709825505
- ELDORET BRANCH
Zion Mall, Ground Floor, Eldoret- Uganda Road, opposite kenal
Tell – 0709825530
- KAKAMEGA BRANCH
Daaron Foundation Trust building, Ground Floor, off Mumias Road opposite Nala Hospital
Tell -0709825560
- MERU BRANCH
Solco Plaza, Ground Floor, Moi Avenue
Tell -0709825590
- NYERI BRANCH
Kasturi Plaza, 1st Floor, Kimathi Street
Tell – 0709825570
- KISII BRANCH
Mocha Place, 2nd Floor, opposite Tuskeys
Tell – 0709825551
- NAKURU BRANCH
SAILEE HSE on the Ground Floor .Kenyatta Avenue, opposite Nyayo Gardens
Tell 0709825600
