Metropolitan National Sacco is a licensed deposit-taking Sacco regulated by the Sacco Societies Regulatory Authority (SASRA). With an asset base exceeding 10.02 billion, it is among the largest deposit-taking Saccos in Kenya.
Membership Eligibility
Membership is open to all, with the Sacco mainly drawing members from:
- Teachers Service Commission (TSC).
- Kenya Defense Forces (KDF).
- Government ministries.
- Parastatals.
- National Police Service.
- Business entities.
- Academic institutions.
Membership Requirements
To join Metropolitan National Sacco, you need:
- A passport-size photograph.
- A copy of your National ID.
- Membership registration fee of Kshs 1,000.
- A recent payslip (for employed individuals).
Metropolitan National Sacco Products
(a) Banking (Front Office)
- M-Metro Cash
- Supports members with salaries channelled through FOSA.
- Interest rate: 10% per month.
- Maximum repayment period: 1 month.
- Salary Account
- Designed for employed individuals who wish to channel their salaries through the Sacco.
- FOSA Personal Loan
- For ongoing personal projects with salaries passing through FOSA.
- Interest rate: 1.5% per month.
- FOSA School Fees Loan
- Assists in paying school fees.
- Interest rate: 1.5% per month.
- Maximum repayment period: 12 months.
- Salary/Pension Advance Loan
- Caters to immediate cash needs for members with salaries or pensions passing through FOSA.
- Interest rate: 10% per month.
- Maximum repayment period: 6 months.
(b) Savings & Loans (Back Office)
- Fixed Deposit Account
- Suitable for short-term investments.
- Offers negotiable interest rates.
- Group Chama Account
- Tailored for groups aiming to grow their savings.
- FOSA Junior Account
- A savings account for children of members with no levied charges.
- Dhahabu Investment Plan
- A hybrid fixed deposit account.
- Negotiable interest rates based on deposit amount.
- Normal Loan
- For development projects.
- Effective interest rate: 6.5%.
- Maximum repayment period: 36 months.
- Emergency Loan
- Provides emergency financial support.
- Effective interest rate: 6.5%.
- Maximum repayment period: 12 months.
- Biashara Account
- Dedicated to entrepreneurs and business owners within the Sacco.
Metropolitan National Sacco Contacts
- Head Office: Ground Floor, Chai House, Koinange Street, Nairobi.
- Contacts: 0709 641 000 / 0736 086 295
