Who We Are.........
KEMRI SACCO is a Savings and Credit Co-operative Society registered under the Co-operative Societies Act (Cap. 490), Laws of Kenya. It was founded in 1980 by members working at KEMRI. Later, membership was opened to staff outside the common bond, as the primary aim of the Society is to provide members with an avenue to save and access credit for productive purposes.
Mission, Vision & Core Values
Type of Loan, Terms & Conditions
Processing: Processed monthly
Repayment Period: Up to 48 months
Interest Rate: 12% per annum on a reducing balance
Maximum Loan: Up to two (2) times the member’s deposits
- Processing period: 10 working days
- Repayment period: Up to 36 months
- Interest: 16% charged upfront
- Maximum loan amount: Up to three (3) times the member’s deposits
- Interest rate: 12% per annum on a reducing balance
Product: Mobile loan for extreme emergencies
Cost: Cheaper than all other mobile loan products
Processing Time: Issued within 24 hours, based on repayment capacity
Repayment Period: 6 months
Loan Limit: Up to three (3) times the member’s savings
Repayment Period: Maximum of 36 months
Eligibility: Existing loan must be fully cleared before applying for a new loan
Interest Rate: 12% per annum
Interest Rate: 14% per annum on a reducing balance
Repayment Period: Payable within a maximum of 12 months
Loan Limit: Only one loan may be granted at a time
Existing Loans: Members may apply for a loan to clear an existing school fees loan; if approved, it will attract an interest rate of 10% on the outstanding loan balance
Application Limit: A maximum of three (3) school fees loan applications may be made
Interest Rate: 12% per annum on a reducing balance
Repayment Period: Payable within a maximum of 12 months
Loan Limit: Only one loan may be granted at a time
Existing Loans: Members may apply for a loan to clear an existing emergency loan; if approved, the cleared loan will attract an interest rate of 10% on the outstanding loan balance
Application Limit: A maximum of three (3) school fees loan applications may be made within a 12-month period
BENEVOLENT BENEFITS TO MEMBERS
Pays the beneficiaries Ksh 20,000 for nuclear family members who pass on to cover funeral expenses.
Pays the beneficiaries Ksh 50,000 for memberswho pass on to cover funeral expenses.
Used for offsetting any loan balances for members who pass on.
KEMRI Sacco Products
This scheme gives the member the opportunity to save monthly and build a deposit which is non-redrawable unless on termination of membership. The benefits include: 1.
GENERAL REQUIREMENTS
- All loans subject to 1/3 take home rule
- Total loans granted must not exceed three times (x3) of the members savings
- All loans shall be processed on first come basis
Members Deposits
Members’ deposits provide a secure saving option while enabling members to earn dividends at competitive rates. These deposits also allow members to access the SACCO’s affordable credit products by serving as loan guarantees.
The scheme offers members an opportunity to save monthly and build a deposit that is non-withdrawable, except upon termination of membership. Membership deposits are mandatory for all registered members.
Eligibility Requirements
Salaried Members: Minimum monthly contribution of 10% of basic pay
Non-Common Bond Members: Minimum monthly contribution of KES 2,000
Plan for your next holiday in advance with minimal struggle through our Holiday Savings Scheme. This scheme is easy to open, offers competitive rates of interest and has no ledger fees. GENERAL REQUIREMENTS
- Allows you to save for a minimum of 12 months
- You can withdraw all your savings and start afresh
- No ledger fees.
- Attractive interest rate paid on withdrawal
Eligibility
- One has to register as a KEMRI SACCO member.
- An interested member fills a holiday savings application form
- Produce a copy of the National Identity Card (ID)
Every member shall be required to contribute a minimum of Ksh. 4000 as a share contribution upon joining. This amount is mandatory for all members and can be transferable, but not withdrawable.
Education Savings Scheme
- Minimum monthly of contribution kSH.1000.
- Attractive interest.
- Payable after 12 months
INSURANCE AGENCY – The Sacco acts as an insurance agency for member’s policy covers against, motor vehicle, property, retirement benefits among others.
SCHOLARSHIPS SCHEME – The SACCO proactively shops for members’ children scholarships. Currently the SACCO is facilitating an education product by Co-operative Bank of Keny
Payments
For more details contact the office on 0713629194 or info@kemrisacco.com,kemrisacco@yahoo.com
Dear Member, Kemri sacco paybill is : 4080767. In order to serve you better, for M-pesa transactions, use the following procedure.
- Mpesa Paybill – Business Number 4080767 – Account Number: your name/Mno/pno Code (E.G. Jose Mourihno***DEP) Amount – PIN.
- The following are the codes: DEP- Deposit, NOR- Normal Loan, EM – Emergency loan , EDU – School fees loan, INST- Instant loan Hol – Holiday savings SHR – Share Capital.
Get In Touch
Any questions or enquiries? We are looking forward to hear from you!
- +254713629194
- info@kemrisacco.com
- Off Raila Odinga Way. Nairobi, Kenya.
- KEMRI SACCO P. O . BOX 19643 Nairobi,Kenya