Safaricom Sacco: Loans, Dividends and How to Join

Safaricon Sacco (SAFCOMSACCO) is one of the best Sacco’s in Kenya. They have great products for individuals and groups. Their loans are easily accessible at low interest. Also, their dividends are enticing and desired by many. If you are looking for a Sacco to invest and grow, try out Safaricom Sacco.

Who can Join?

Membership for the Safaricom Sacco is open to the following people;

  • Employees of Safaricom PLC.
  • Spouses of the Sacco members.
  • Children (above 18 years) of members.
  • Individuals who are introduced by employees or Sacco members.

Requirements to Join?

Eligible Individuals can join Safaricom Sacco (Alpha) as per the membership policy. However, they have to meet the following requirements to be admitted.

  • Registration fee of Kshs 1,000
  • Minimum monthly deposit of Kshs 3,000.
  • Purchase the minimum share capital – 400 shares at Ksh 100 equal each.
  • CRB report

How to join Safaricom Sacco

After meeting the requirements, you can join Sacco by applying Online through their iConnect online portal or physically.

  • Go to Safaricom Sacco Downloads Page.
  • Download the Member Registration form.
  • Attach your passport photo.
  • Attach copies of your ID and KRA Pin.
  • Submit your Application at the Sacco Offices

You can also join via USSD *345#

Safaricom Sacco Loans

To qualify for a loan (up to 3 times), a member should have either 6 months or 3 months of consistent saving. The former being for long-term loans and the latter for short-term loans.

To apply for a loan, go to their online portal and follow the steps. You can also make your application via iConnect App or USSD *345#.

Safaricom Sacco offices and contacts

Their offices are located at the Safaricom Care Centre in Westlands, Nairobi. You can also reach them using the contacts below.

Mobile: 0111 222 226 or 0111 222 227

How to deposit money in Safaricom Sacco using Mpesa?

You can make your contribution through a bank, M-Pesa Paybill, or automatic employer check-off. To deposit using Mpesa Paybill follow the following steps;

  • Go to the Mpesa Menu.
  • Select Lipa Na M-Pesa and then Paybill.
  • Enter Safaricom Sacco Business number 505100.
  • Enter your Account Number (Members ID) – For Example – 26858052D (where ‘D’ stands for deposit).
  • Confirm your details.
  • Enter Amount and your Mpesa Pin.
  • Wait for a confirmation from Sacco.

List of 15 Best Saccos in Kenya

Besides Safaricom Sacco, there are other best SACCOs in Kenya. They are ranked on top based on their loan facilities, interest rates, and share dividends. If you would like to invest in one, here is a list of the top 15 SACCOs in Kenya.

  1. Stima Sacco
  2. Harambee Sacco
  3. Unaitas Sacco
  4. Kenya Police Sacco
  5. New Forties Sacco
  6. Biashara Sacco Society
  7. K-Unity Sacco
  8. Waumini Sacco
  9. Maisha Bora Sacco
  10. Enea Sacco Society
  11. Hazina Sacco
  12. Wanandege Sacco
  13. Jamii Sacco
  14. Nanyuki Equator Sacco
  15. Imarika Sacco

Also read: Faraja Loan By Safaricom