We will guide you through the loan process, requirements, and how to repay the loan.
About Hazina Sacco
They registered Hazina Sacco in 1971 under the cooperative societies Act (CAP 489) as a credit investment, savings, and cooperative society. The platform offers minimal interest loans to its stakeholders. Customers can also deposit cash, which helps them save
Nevertheless, the amount of money you can borrow depends on the deposit you have made and the duration you have saved with Hazina Sacco.
How long you need to save before you can get a loan with Hazina Sacco
Hazina Sacco requires you to save for at least four (4) months before you can borrow. You can borrow money for emergency situations, education, etc.
The company requires a guarantor for each loan and a logbook for car loans. As soon as your money is ready, you can receive it by cheque, transfer or M-Pesa.
Requirements for Hazina Sacco loan application
You must meet the following requirements before applying for a Hazina Sacco loan:
- Be aware of the recent Hazina Sacco loan policy
- Be prepared to provide accurate information and fill out your application correctly
- Two months’ original pay slip
- A national identification card
- Private members can self-guarantee up to 95%
Types of loans offered by Hazina Sacco
The loan platform provides a wide range of loans like:
- Hazina Sacco BOSA
- FOSA loans
- Hazina Benevolent fund
Hazina Sacco BOSA loan
This is a type of credit provided by Hazina Sacco and is enjoyed by individuals above 18years. There are also various types of BOSA products and they are:
- National or development loan
- Top up loan
- Super loan
- School fees loan
- Emergency loan
- Hisa loan
To be eligible for this type of loan, you must be guaranteed by at least two FOSA account holders. The types of loans under this category are:
- Karibu – 1.2% interest rate
- Hisa loan – 5%
- Karibu Top up – 1.2%
- HSF Okoa advance – has 1.2%
- HSF special advance loan – 1.2%
Hazina Benevolent fund
The account holder borrows this fund and is for savings. In the case of death, they give the fund to next of kin and insurance clears the loan. To be a member, you need to be paying Kshs. 100 per month.
How to join Hazina Sacco
The following groups, institutions or individuals may join Hazina Sacco:
- Government workers from the national and county levels
- Employees of parastatals and private companies
- Hazina Sacco employees
- Individuals formed groups such as women’s groups, youth groups, or chamas Public service employees Corporations
- You must first download and complete the membership form if you wish to become a member. Additionally to getting them from their website, you can obtain the forms at their offices.
- A simple application form must be completed with all of the necessary information; there are no hidden steps involved.
- It may also be necessary to fill out next of kin forms for Hazina Sacco in order to ensure your family members have access to your savings and shares if you die.
- Completed forms are reviewed by the Sacco office. You will be notified of the success of your application.
Hazina Sacco mobile banking
Account holders can only use this service. Through the use of your mobile phone, you can conduct all transactions from the comfort of your home. To access Mobile Banking, visit your nearest Sacco office and provide your details.
How to repay Hazina Sacco loans
You can repay the loan in four ways:
- By using M-Pesa paybill of 850436
- Through writing a bank standing order where you instruct the bank to deduct the loan amount weekly or monthly
- By depositing cash to the loan collector at their office and collecting evidence of repayment
- Through automatic deduction from the salary account by the employer to the Hazina Sacco account.
How to contact Hazina Sacco loans
If you would like to visit Hazina Sacco, you can find them on Kibera Road off Ngong Road, behind Shell Petrol Station. You can also call or email them through the following contacts.
- Telephone 1: 02-2719098
- Landline 2: 020-2722106
- Landline 3: 0202428634
- FOSA: 0727086480
- Loans: 0712149631
- Email: email@example.com
Investing in Hazina Sacco will provide you with attractive dividends and interest in your investments, while borrowing money will be at reasonable rates.
Using the information in this article, you can contact the organization to find out if it suits your financial goals and needs.