Washa Sacco was established on 8th January 1981 to provide members with a platform to save funds and access loans for productive purposes. The Sacco currently boasts over 1,600 members from diverse institutions.
Membership Eligibility
Washa Sacco draws its members from:
- Employees of Aga Khan and affiliated companies.
- County employees.
- Employees of private companies.
- Business communities (SMEs).
- Registered groups.
- Welfares and chamas.
Membership Requirements
To join Washa Sacco, you need:
- A duly filled entrance form.
- A copy of your National ID.
- A copy of your KRA PIN.
- An entrance fee of Kshs 1,000.
Products and Services
(a) FOSA Loans
- IDD/Christmas Loan
- Processing time: 24 hours.
- Repayment: 6 months.
- Maximum amount: Kshs 20,000.
- Express Loan
- Processing time: 7 days.
- Repayment: 18 months.
- Maximum amount: Kshs 200,000.
- Special Express Loan
- Processing time: 7 days.
- Repayment: 12 months.
- Maximum amount: Kshs 100,000.
- Salary Advance
- Processed instantly.
- Repayment: End of the month.
- Maximum amount: 50% of net salary.
- SOS Loan
- Processing time: 24 hours.
- Repayment: 3 months.
- Amount based on net salary.
- Development Loan
- Processing time: 7 days.
- Repayment: 30 months.
- Amount: Kshs 100,000–500,000.
- Major Loan
- Processing time: 7 days.
- Repayment: 36 months.
- Amount: Kshs 500,000–1,000,000.
- Bebabeba Loan
- Processing time: 7 days.
- Repayment: 6 months.
- Maximum amount: Kshs 100,000.
- Overdraft
- Repayment: End of the month.
- Amount: Based on net salary.
- Biashara Loan
- Processing time: 7 days.
- Repayment: 12 months.
- Maximum amount: Kshs 200,000.
(b) BOSA Loans
- Instant Loan
- Processing time: 24 hours.
- Repayment: 3 months.
- Maximum amount: Kshs 20,000.
- Special Instant Loan
- Processing time: 24 hours.
- Repayment: 4 months.
- Maximum amount: Kshs 50,000.
- Emergency Loan
- Processing time: 24 hours.
- Repayment: 12 months.
- Maximum amount: Kshs 500,000.
- School Fees Loan
- Processing time: 48 hours.
- Repayment: 12 months.
- Maximum amount: Kshs 500,000.
- Normal Loan
- Processing time: 14 days.
- Repayment: 60–72 months.
- Maximum amount: 3 times member deposits.
- Inua Loan
- Processing time: 24 hours.
- Repayment: 6 months.
- Maximum amount: Kshs 100,000.
- Fanikisha Loan
- Processing time: 24 hours.
- Repayment: 24 months.
- Maximum amount: Kshs 500,000.
(c) Savings Products
- Ordinary Savings Account
- No ledger fees.
- No minimum balance.
- Access to all credit facilities.
- Fanikisha Savings Account
- No ledger fees.
- No minimum balance.
- Access via mobile banking and ATM.
- Group/Welfare/Chama Savings Account
- No ledger fees.
- No minimum balance.
- Withdrawals by group officials only.
- Junior Savings Account
- No ledger fees.
- Minimum balance: Kshs 500.
- Fixed Deposit Account
- Minimum deposit: Kshs 40,000.
- Duration: 3, 6, 9, and 12 months.
- Interest rate: 9% per annum.
Contacts
- Location: Ralli House, 3rd Floor, Nyerere Avenue, Opposite Biashara Building, Mombasa.
- Phone: 0797 690 900 / 0732 525 224.
