Have a look at list of our most popular Frequently asked questions & answers. Don’t hesitate to call us if you have any other question.
1. Who owns Strategic Deposit Taking Sacco Ltd?
The owners of Strategic Deposit Taking Sacco Ltd are members of the sacco
2. Who is eligible to join the Sacco?
Membership is open to all persons from different segments of the market not less than 18 years of age.
3. What are deposits/member savings?
These are savings made to the Sacco on a monthly basis.
Deposits are withdrawable upon resignation or death of a member.
The minimum contribution per month for every member is ksh1500.
4. What is share capital?
It’s the money invested in the Sacco by members that is a long-term source of finance. Members earn dividends on share capital yearly.
The minimum shareholding by a member is Ksh 10000
5. When does a member become eligible for a loan?
A member can qualify for;
Spot cash after 1 month
Instant, Express and Golden loans after 3months
Any other loans after consecutively saving for 6months.
6. What are the acceptable securities for a loan?
Deposits/member savings
Guarantors
Acceptable Collateral
7. Can I boost my savings and apply or a loan immediately?
Yes, you can but a member will wait for a period of 2 months before using the same deposits as collateral for loan.
8. Can I continue contributing after leaving the company I am working for?
Yes. You can continue contributing to the Sacco by making deposits through Paybill no, direct deposits to our Cooperative account or by placing a standing order.
9. After resigning from the Sacco, for how long do I wait for refund of savings?
60 Days
10. Can I rejoin the Sacco if I had earlier resigned?
Yes. You can reapply to become a member again and continue with contributions.