Home
Blog
Services Offered In Mwalimu National Sacco Kenya

Services Offered In Mwalimu National Sacco Kenya

August 1, 2023 2:06 pm

Ekai Kaoo

0 comments

Mwalimu Sacco Nairobi Branch is located in Co-operative house along Tom Mboya Street. The Sacco was started in the year 1974. It was formed under cooperatives Societies Act as a Sacco society with an objective of mobilizing savings to customers and providing credit services. The Sacco mainly targets TSC secretaries, TSC teachers in Secondary and other tertiary institutions and the staff of the Sacco. The Sacco has the vision of to become a World Class Co- operative financial Institution. The Sacco’s mission is to mobilize funds, Provide Credit and other financial Services to the customers at competitive terms.

Emergency Loans

The loan is granted for in any circumstance.
Repayment period is 12 months.
Only one Emergency loan can be granted at a time.
The loans are given within a member’s entitlement.
The limit amount is a members deposits X 6 (subject to 1/3 rule).
The interest rate is 1% per month on reducing balance
Principle loan repayment to be done separate from interest repayment

Fees Loan

The loan is granted for educational reasons.
Repayment period is 12 months.
Only one loan is granted at a time.
The loan is given according to member’s entitlement.
Maximum loan amount is a members deposits X 6 (subject to 1/3 rule).
The interest rate is 1% per month on reducing balance.
Principle loan repayment is done separate from Interest charges repayment.

Normal Loan

Normal loans shall be granted as short-term loans for investment purposes.
Repayable in 36 months.
Only one normal loan shall be granted at a time.
Maximum loan granted is a members deposits X3 (subject to 1/3 rule).
The interest rate is 1% per month on reducing balance.
Principle loan repayment is done separate from interest charges.

Development Loan

Development loans are granted for medium-term loans for investment reasons.
Repayment period is 48 months.
Only one loan is granted at a time.
Maximum loan amount is a members deposits X 3 (subject to 1/3 rule).
The interest rate is 1.1% per month on reducing balance.
Recovery is done at a monthly flat rate which combines principle amount and interest repayment.

Super Loan

The loans are granted as long term loans for investment reasons.
Repayment period is 60 months.
Only one loan can be granted at a time.
Maximum loan amount granted is a members deposits X 4 (subject to 1/3 rule).
The interest rate is 1.2% per month on reducing balance.
Recovery is done at a monthly flat rate which combines principle amount and interest repayment.

Vision Loan

Vision 72

Vision loans are granted as long-term loan for investment reasons.
Repayment period is 72 months.
Only one loan is granted at a time.
Maximum loan granted is a members deposits X 6 (subject to 1/3 rule).
The interest rate is 1.4% per month on reducing balance.
Recovery is done at a monthly flat rate which combines principle and interest.

Vision 60

It is granted as long-term loan for investment reasons.
Repayment period is 60 months.
Only one loan is granted at a time.
Maximum loan granted is a members deposits X 6 (subject to 1/3 rule).
The interest rate is 1.3% per month on reducing balance.
Recovery of the loan is done at a monthly flat rate which combines principle and interest repayment.

About the Author

Ekai Kaoo

Follow me

Emerging from the athletic heartland of Rift Valley, Eka Kaoo was destined to have a relationship with sports. However, instead of lacing up running shoes, Eka picked up a pen, weaving narratives around the athletes who brought pride to Kenya.

Growing up, Eka was deeply inspired by the marathoners and middle-distance runners from his region, often finding himself amidst training camps and local races, absorbing stories of dedication, sweat, and sheer willpower.

Eka pursued his passion academically at a renowned university in Kenya, specializing in Sports Journalism. This formal education, combined with his intrinsic understanding of the Kenyan sporting ethos, allowed him to produce articles that resonated deeply with readers. His pieces, rich with local anecdotes and broad insights, began to get attention both within the university and in the national press.

Upon graduation, Eka became a sought-after name in sports journalism. His writings, spanning across various sports but with a soft corner for track and field, offered a fresh perspective, blending personal athlete stories with technical analyses.

Eka Kaoo's articles soon began appearing in international sports magazines and journals, elevating him to the status of an ambassador for Kenyan sports on the global stage. He covered major events like the Olympics and the World Championships, consistently providing readers with unique, Kenya-centric viewpoints.

Beyond his journalistic endeavors, Eka has been instrumental in organizing grassroots sports events in Kenya, aiming to unearth hidden talents and provide them with a platform to shine.

Today, as one of the leading voices in sports journalism in Africa, Eka Kaoo continues to champion the stories of athletes, always reminding the world of the heart, soul, and spirit of Kenyan sports.