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    • This is the main deposit savings scheme where all the fully paid up members will make their monthly savings. A fully paid-up member of the Scholar Sacco must have paid entrance fees of Kshs 5000 and purchased a minimum of 100 shares @ Kshs100
    • This scheme gives the member an opportunity to save monthly for a minimum of six months before qualifying for a loan.
    • The mandatory minimum monthly contribution is Kshs 3,000/= which is non-withdrawable unless on termination of membership and must be maintained throughout the course of membership. Regardless of whether you are servicing a loan or not. A member is at liberty to save more than the minimum Kshs 3000.
    • The savings constitute the member’s deposits out of which loans will be granted.
    • Members will be granted loans at 3 times their total amount of deposits
    • The repayment period for loans under this scheme will be 48 months.
    • The interest rate on loans will be 1.5% per month on reducing balance


  • The contributor must be a fully paid up member of the Scholar Sacco having paid entrance fees of Kshs 5000 and purchased a minimum of 100 shares @ Kshs100
  • The minimum monthly contribution is Kshs 2,000
  • Maximum entitlement is 3 times the total savings/deposits held in the scheme.
  • Maximum repayment period is 36 months
  • The applicable rate of interest on loan is 1% p.m. reducing balance.
Deadlines for submitting applications are on the 20th and disbursements made not later than 30th of the same month.
  • This savings scheme will be operated by members who would like to make savings for the future and earn interest out of it just like people make savings in the money markets and unit trusts
  • The minimum balance is Kshs 30,000
  • Monthly contributions into the account is Kshs 5000
  • The Savings will earn an interest of 8% credited on a quarterly basis.
  • This savings account is designed to serve as security for the member and his/her family for the future.
  • A member can access all or part of the Interest earned on a quarterly basis
When applying for a super loan or asset financing, the balance in this account will be considered as part of the security for the super Loan or Asset Financing loan
  • Minimum Balance of Kshs 2,000
  • Monthly contribution is Kshs 500
  • Birth Certificate
  • Parents /Guardian ID card
  • Maximum withdrawal of 3 times per year
  • Free Scholar Sacco Branded Piggy banks
Earns 6% interest p. a
  • Retired Citizens may operate a retirees savings account with Scholar Sacco by depositing their retirement benefits in the account.
  • The retired citizen to make a minimum monthly contribution of Ksh.2000
  • Earns Interest 7.5% p.a
  • Interest paid 100% annually
The deposits in the account be considered as security for a loan under this account which will not be more than ¾ of the savings in the account
  • This is a mandatory internal insurance cover for the Sacco where every member will contribute Kshs 500 monthly to provide a cover for outstanding loans and main savings scheme deposits.
The money contributed will be used for following purposes;
  • Liquidate loans for the deceased members thereby discharging the guarantors from the liability of the deceased member.
  • Defray in-patient hospital bills for a member. The Sacco reimburse a member Ksh 500.00 per day for up to 60 days
In case of death of a member, claims will be made and paid as follows;
  • Claims will be made within three months of the death occurrence
DEATH CLAIMS
  • Death of a contributor – Kshs. 60,000
  • Death of a contributor’s spouse – Kshs. 50,000
  • Death of a contributor’s child (below 25 years) – Kshs. 35,000 (up to 4 children).
  • Death of contributor’s parents & parents in –law Kshs. 25,000 per a parent
  • Simultaneous death of contributor and spouse – Kes.100,000
  • Members should submit risk claim forms within three (3) months upon occurrence of the deaths.
  • Nominated next of kin should submit risk claim forms for death of a member within six (6) months upon occurrence of the death