highest dividend paying sacco in kenya - stima sacco

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Top Stima Sacco member got Sh6.5m dividend payout for the year ending December 31, 2018

1. Hazina Sacco

It was registered as a savings and credit co-operative society in 1971 and after years of success, the Sacco finally became a deposit taking Sacco after they were registered by SARSA.

Hazina Sacco has over 15,000 active members who are mainly from private sector employees, government employees as well as organized youth and women’s group. Their membership is open to everyone.

The Sacco gives loans of up to 3 1/2 times the value of the savings you have with a repayment plan of 72 months with 1% per month interest.

2. One of the Credible Sacco’s In Kenya, is the Kenya Police Sacco

This Sacco boasts of over 52K members and was formed in 1972 by the Kenya Police Staff. Initially, the members were security forces only but nowadays membership is open to all.

Last year it received an award for being the Sacco with the Highest Dividend / Interest Rate in the Government Sector.

When it comes to loans, the organization offers loans of up to 3 times the amount of savings you have and they allow you to pay it back in 48 months with an interest of 13.5% per year.

3. Stima Sacco

Stima Sacco was established in 1974 and has since then experienced steady growth. They have 5 branches in Nairobi, Mombasa, Kisumu, Nakuru and Olkaria.

Their membership is open to everyone and one can borrow up to 2 times the amount of savings they have and pay it back within 60 months. It has an interest rate of 1% per month.

4. Unaitas

It was registered as a Savings and Credit cooperative Society in 1993 by a group of farmers who wanted a place they could save and get loans at affordable rates. It was known as Murang’a Tea Growers.

In 2007 it changed its name to Muramati Sacco after it expanded outside Murang’a and opened its membership to medium sized business people and salaried employees.

It rebranded to Unaitas in 2012 in line with its growth strategy to include members from all walks of life.

The Sacco offers loans of up to 3 times your savings with a payment period of 72 months at interest rates of between 1 – 1.5% per month.

5. Maisha Bora SACCO is also one of the Credible Sacco’s In Kenya

As one of the best Sacco’s in Kenya, it was started by a group of Unilever factory workers in 1974. Membership for this Sacco is open to all.

The Sacco allows members to borrow up to 3 times their savings and pay it back in a period of 72 months with an interest rate of 1% per month.

When choosing a Sacco it is important to remember to pick one that best suits your needs and ensure it is a credible one so as to avoid loss of your hard earned money.

6. Sheria Sacco 

Sheria SACCO Society Ltd is a Savings and credit cooperative society formally registered in 1972 with a growing membership of over 10,000 members pooled from the Judiciary, AG chambers, various Government Ministries, Business persons and anyone above the age of 18 years with an income.

HIGH-DIVIDEND AND INTEREST PAYING SACCO

High-dividend and interest paying sacco

There are numerous saccos in Kenya that claim to offer high dividends on members’ investments. However, if you are looking for the ultimate high-dividend and interest paying sacco in Kenya, you have come to the right place. Sheria Sacco is easily Kenya’s best bet as far as reduced interest rates are concerned.

Anyone who wants to join a sacco for judicial staff in Kenya needs to see real returns on his or her investment. Nobody understands this better than Sheria Sacco. Read on to understand the reasons why Sheria Sacco is the high returns on savings sacco.

Has best saving facilities

If you require a financial institution with the best sacco savings products, it is time to join Sheria Sacco. As long as you are at least 18 years old and have a steady source of income, you can join.

Once a member, you can determine how much you want to contribute to the sacco in a typical month. You could either deposit to your account personally through one of the sacco’s electronic transfer option or ask the sacco to deduct the funds directly from your account. In addition, you could make impromptu deposits outside your regular payments.

Your shares are calculated from the sacco’s core or equity capital. This means that you will own more of the sacco if you make more deposits to your account. Just like any other sacco savings products, your dividends will be higher if you have more shares in the sacco. The following are different savings accounts operated by Sheria Sacco

  1. Ordinary Deposits Account – Requires Ksh.2,000 as minimum contribution per month.
  2. Shewisa Account –Requires a minimum of Ksh.500 as monthly contribution
  3. Childa Account- Members are required to pay Ksh.500 monthly as contribution
  4. Burial Benevolent Fund- You will need to contribute Ksh.200 every month.

Has best loan facilities

Sacco loan products are usually the most important facets of any sacco. The interest that you will pay is calculated on a weighted average approach. It therefore depends on the society’s income at the end of every financial year. The following are examples of the loan facilities at Sheria Sacco.

  1. Bosa Credit Products- Includes Shamba Loan, Bima Loan, Jipange Loan and Emergency Loan.
  2. Fosa Loan Products- Includes Business Loan and Salary Advance

Additional benefits for members

You know you save in a good sacco if it operates a Burial Benevolent Fund (BBF). BBF is a sacco insurance scheme where the dependants of a member benefit if he or she passes away. Your child who is aged below 25 years are paid Ksh.40,000 while your spouse gets Ksh. 50,000.

One additional benefit that you can expect from Sheria Sacco is in the real estate industry. Unlike other saccos in Kenya, Sheria Sacco has a registered housing society. This entity can buy land on behalf of members at a fair price. Having known the high dividend and interest paying sacco, you no longer have an excuse for failing to join Sheria Sacco.

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