Financial Solutions
From savings to loans, we offer a complete range of financial services designed to help you achieve your goals at every stage of life.
KAFOVA Sacco Holiday Savings Account is designed to offer members a savings facility towards a vacation plan.
Features:
- Minimum monthly saving is Ksh. 1,000 with no maximum limit.
- One withdrawal per year.
- Members can choose to withdraw their savings or roll the savings over to the following year.
- Reduces loan burden on members for purposes of holiday and other celebrations.
This is an all-purpose loan product tailored to meet a member’s personal and business needs & objectives.
Features:
- Maximum repayment period of 48 months.
- Interest rate of 12% p.a. on reducing balance.
- Maximum loan of up to 3 times member deposits but subject to a lending limit of Kshs 4 million.
- Flexible loan security such as guarantors.
Share Capital is the shareholding that every member hold in the Sacco. It is a long-term investment a member puts in the Sacco for higher returns in form of dividends.
Features:
- Minimum Share Capital is Ksh. 10,000 per member i.e. 100 shares @ Ksh.100
- It earns members dividends.
- Can be transferred to another member upon termination of membership.
Savings Products
Grow your money with our comprehensive savings products designed for every financial goal.
Member Savings
Long term non-withdrawable savings contributed monthly by the member.
Features:
- Minimum monthly contribution of Kshs 1,500.
- No minimum balance
- Monthly statements
- Higher deposits give a member higher borrowing power.
- Can be used as security against a loan.
- Non-withdrawable however is refundable upon termination of membership as per the Sacco by-laws.
Holiday Savings
KAFOVA Sacco Holiday Savings Account is designed to offer members a savings facility towards a vacation plan.
Features:
- Minimum monthly saving is Ksh. 1,000 with no maximum limit.
- One withdrawal per year.
- Members can choose to withdraw their savings or roll the savings over to the following year.
- Reduces loan burden on members for purposes of holiday and other celebrations.
Loans Products
Access affordable financing options with competitive rates and flexible terms.
Normal/ Development Loans
This is an all-purpose loan product tailored to meet a member’s personal and business needs & objectives.
Features:
- Maximum repayment period of 48 months.
- Interest rate of 12% p.a. on reducing balance.
- Maximum loan of up to 3 times member deposits but subject to a lending limit of Kshs 4 million.
- Flexible loan security such as guarantors.
Emergency Loans
This is a fast-disbursed loan product designed to help members address urgent and unforeseen financial needs.
Features:
- Maximum repayment period of 12 months.
- Interest rate of 1% p.m. on reducing balance.
- Granted at maximum rate of three times the members deposits but not exceeding a maximum loan amount of Kshs 500,000.
Short Loans
This is a flexible loan designed to cover a member’s immediate risk and expenses.
Features:
- Maximum Loan limit of Kshs.150, 000
- Interest rate of 9% monthly.
- Maximum repayment period of 6 months.
Holiday Loans
This is a loan product specifically for financing holiday related expenses.
Features:
- Maximum repayment period of 12 months.
- Interest rate of 13% p.a. on reducing balance.
- Maximum loan of up to 3 times the member’s holiday savings deposits. The loan can be self-guaranteed or have guarantors who are holiday savers.
24 Hour Loans
This is a quick loan designed to meet urgent daily needs.
Features:
- Maximum Loan limit of Kshs.15,000/=.
- Loan repayment period is 30 days.
- Monthly Interest rate is 7.5%.
- The Loan is processed within 24hours and disbursement done through M-pesa.
Share Capital
- Minimum individual Share Capital is Kshs. 10,000 i.e. 100 shares @ Ksh.100
- Maximum individual Share capital is Kshs.50,000 i.e. 500 shares @ Ksh.100
- Minimum corporate Share Capital is Kshs. 100,000 i.e. 1000 shares @ Ksh.100
- Maximum corporate Share capital is Kshs.500,000 i.e. 5000 shares @ Ksh.100
- It earns members dividends.
- Can be transferred to another member upon termination of membership.
Why Choose Kafova?
We exist for our members, not for profits. Every decision we make is guided by your financial needs, ensuring personalized support and fair services.
Ready to Join Our Community?
Start your journey with KAFOVA today and discover the benefits of cooperative banking.