Poverty is an immediate issue in some regions of Kenya where borrowers may not have access to traditional banks. Stigma Sacco loans help address this need by providing loans to individuals who meet up the minimum criteria.
There are literally a variety of financing options available to Stima Sacco members regardless of whether they hold alpha deposits or prime accounts.
About Stima sacco loans
They founded STIMA SACCO DT in 1974 with the sole aim of uplifting the social and economic welfare of its members. Sacco has nine branches in Nairobi (Parklands), Mombasa, Kisumu, Nakuru, Olkaria, Eldoret, Nairobi CBD, Embu and Kawi Centre (South C).
Kenyans often consider Sacco loans to be the best because they usually offer lower interest rates, lower insurance premiums, and partner discounts. Besides offering high returns on deposits, they also provide investment opportunities and the opportunity to build a cash reserve more quickly than most banks.
Stima Sacco loans, as stated, have a much lower interest rate, a flexible repayment schedule, and a higher credit limit.
How to apply for a Stima Sacco loan
Depending on how much credit you have, you have the following options: visit Stima Sacco office to process your loan and you are recommended to follow these steps:
- Download, print, and fill out the Stima Sacco application form.
- Input your personal information, such as employment details, loan details, and security information, and agree to the terms and conditions.
- Visit any branch and present a duly filled copy, along with supporting original and photocopied documents, such as a national ID and payslip.
- Be patient while your credit request is verified.
Stima Sacco app
The lending app is best suited to short-term personal emergencies. The Stima Sacco app is called ‘M-Pawa app’. Go to Google play store to download the app. The features of the app include:
- Easy to navigate through
- Has a very blue catchy colour
- 521 reviews on Google Play store.
- Memory space of 3.3MB
- Over 100k+ downloads
- 2.5/5 star rating
- Content of the app with its rating is suitable for everyone.
Stima DT Sacco financing types
You can choose from a variety of lending plans tailored to meet your needs at this institution. Below is a list of the credits available.
- Long term personal loan products: As the name suggests, they require payments to be made over an extended period of time. The loan amount is generally higher in this case. Options available include:
- Normal loan 1 and 2: The interest rate for this is 12% for both and maximum loan amount is 3 and 2 times your member’s alpha deposits. Repayment is between 48 and 60 months.
- Super loan interest rate: Has 14% interest rate with maximum loan amount of 4 times your Stima Sacco savings account alpha deposits. Repayment is within 60 months and nothing more.
- Mwangaza loans 1 and 2 Interest rate: Have 14% and 18% interest rate respectively, with a maximum loan amount of Ksh. 3 million. Your repayment is between 48 and 60 months, respectively. Additionally, the minimum deposit contribution is Ksh. 10,000 per month.
- Premium loan Interest rate: Goes with 14% interest and a minimum deposit amount of Ksh. 1 million with repayment done within 72 months.
Stima sacco branches in Kenya
Head Office
At Stima Sacco Plaza Mushembi Road, Parklands in Nairobi, Kenya.
P.O. Box 75629-00200,Nairobi.
Tel: 0703024000
Email: info@stima-sacco.com
Nairobi Branch
Located at Stima Sacco Plaza Mushembi Road, Parklands in Nairobi, Kenya.
Tel: 0703024000
Email: nairobibranch@stima-sacco.com
Mombasa Branch
Go to Electricity House, Ground Floor, Nkumah Road.
Tel: 0703024401/2/3/4/5
Email: msafosa@stima-sacco.com
Kisumu Branch
Visit Westend Mall, Achieng Oneko Road, Kisumu.
Tel: 0703024507/513
Email: kisumubranch@stima-sacco.com
Nakuru Branch
Search for Meems Building, Kenyatta Avenue Nakuru.
Tel: 0703024601/2/3
Email: nkrbranch@stima-sacco.com
Olkaria Branch
Suited at Geothermal Complex, Olkaria, Naivasha.
Tel: 0703024701/2/3
Email: olkariabranch@stima-sacco.com
Eldoret Branch
Locate Zion Mall, Malaba Road.
Tel: 0703024801/2/3/4/5
Email:eldoretbranch@stima-sacco.com
Kawi Branch- Nairobi
Found at Kawi Complex, South C Bellevue, Off Mombasa Road, Off Red Cross Road .
Tel: 0703 024 852/3
Email: kawibranch@stima-sacco.com
Embu Branch
Embu Pearl Center in Embu Town.
Tel: 0703024955/959
Email: embubranch@stima-sacco.com
CBD Branch – Nairobi
Victor House, Along Kimathi Street, Nairobi.
P.O. Box 75629-00200. Nairobi
Tel: 0703024908/914
Email: cbdbranch@stima-sacco.com
Customer Care Centre
Located at Stima Sacco Plaza Mushembi Road, Parklands in Nairobi.
P.O. Box 75629-00200, Nairobi.
Tel: 0703024000
Email: customercare@stima-sacco.com
Conclusion
Stima Sacco is a credit facility offering loans to those who do not qualify for formal credit. This micro-credit facility aims to provide low interest loans and equip clients with savings and financial literacy skills.
If you meet the eligibility criteria and live in Kenya, visit any of their office listed in this article and apply for a loan. See also Nyati Sacco loan
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