Home Home
Welcome to the Frontpage
Loan Queries PDF Print E-mail
Written by Administrator   
Saturday, 20 July 2013 13:55

1.  When do I qualify to take a loan?

  • You qualify to take a loan after six months of consistent contribution to the Sacco.

2.  Whats the maximum loan am entitled to?

  • You are entitled to maximum loan equal to four times your total savings (shares capital plus deposits * four) Lump sum deposit

3.   Do I have to wait for six month to get a loan after making a lump sum deposits?

  • No, the Sacco has introduced a 10% commission of lump sum deposit utilized on entitlement for those who want to borrow immediately based on lump sum deposits.

4. Can I have more than one loan at the same time?

  • Yes, you can have several concurrent loans so long as they don’t exceed your maximum loan entitlement of four times and you have ability to pay for all of them.

5. What do I require to take a loan??

A duly filled loan application form supported by;

ID/ passport Copy

3 month certified pay slips  or 6 month bank statement

Guarantors ID or passports

PIN Certificate

Utility bill

For business members:

A statement of income and expenditure

Certified 6 month bank statement

Business registration certificate

6.   What is the maximum loan repayment period?

  • The maximum loan repayment period is 48 months for all loans apart from short term and school fees which are repaid in 6 and 12 months respectively.

7.   Why is the reason of rejecting my loan?

A loan can be rejected on the following grounds;
  • Inconsistency in deposit contributions
  • Inadequate guarantors
  • The form is not duly completed
  • Key documents like ID, certified pay slips, PIN, direct debit/standing order instructions etc have not been attached
  • The member deposits are insufficient to support an additional loan.

8.  Can i reduce my loan installment due cash flow constraints?

No, you cannot adjust or reduce loan installment unless you had previously overpaid your installments as this will result in your loan going in arrears leading to closure after three months arrears.

9.   How long does it take before a loan is processed?

  • Normal loans repurchase loan, refinance loan and asset loans are processed within two week so loans you application has been submitted by 10th of the month and all requirement have been met.
  • Emergency loan as processed within 2 working days if all requirements are met.
  • School fees and short term loans are processed within four working days so long all requirements are met.

end faq

Last Updated on Thursday, 15 August 2013 17:23
Deposit Querries PDF Print E-mail
Written by Administrator   
Saturday, 20 July 2013 13:54

1. What is the minimum contribution?

  • The minimum contribution is KES 1,600 per month.

2. What is the difference between deposits and shares?

  • Deposits are withdraw-able members’ savings while shares or share capital is the permanent member contribution toward the Sacco capital and forms part of Sacco equity.
  • Shares cannot be withdrawn even on exit from the Sacco but can be transferred to another willing member.
  • Each member must have a minimum of Ksh 10,000 in share capital unlike deposits which have no minimum amount.
  • Deposits earn interest while share or share capital earn dividends
  • Deposits can be used as loan security while share cannot be used loan security.

end faq

Last Updated on Tuesday, 25 July 2017 12:02
Membership Querries PDF Print E-mail
Written by Administrator   
Saturday, 20 July 2013 13:51

1. What are the membership requirements?

  • Members of ICPAK and their employees.
  • Fully qualified accountants who are not members of ICPAK.
  • Accountancy training institutions and accountants in training.
  • Mhasibu members’ spouses and their children under the age of 18.
  • Registered KASNEB students.

2. How do I become a member?

You need to fill in a membership application form and pay a membership fee of Kshs. 1,000. Then submit the fully completed form to Sacco office for registration.

3. Is my spouse/children eligible to join the Sacco?

Yes, both the spouse and children of an already registered member are eligible to join the Sacco even if they are not accountants or don’t meet the other joining criteria.

4. Do I need to pay registration fees to patronize another product say the holiday and Mhasibu housing plots?

No, once you paid your initial membership registration fees, you are free to patronize any Sacco or Sacco subsidiary product with an additional fee.

end faq

Last Updated on Thursday, 13 March 2014 12:37
Withdrawal From the Sacco PDF Print E-mail
Written by Administrator   
Saturday, 20 July 2013 13:52

1.  What is the procedure of withdrawing from the Sacco ?

  • You need to write a formal letter and sign it, giving the Sacco sixty days notice in line with Sacco by laws. The letter should be accompanied by your ID copy. You are also required to provide your bank details.

2.  Can I partially withdraw my deposits?


  • No, no member will be allowed to partially withdraw part of his /her deposits or offset part of the deposits against an outstanding loan unless he/she ceases to be a member.


3. Can I withdraw my deposits from the Sacco instantly?


  • Yes you can withdraw your deposits instantly but the Sacco will charge you a commission 10% of current deposit amount in lieu of withdrawal notice of 60 days.


4. Can i Withdraw my deposits when I have guaranteed another member?


  • A member cannot withdraw his /her deposits that have been pledged towards another member loan unless that member has cleared that loan or has submitted a substitute guarantor to replace you.


end faq


Last Updated on Tuesday, 22 March 2016 19:36
Downloads Section PDF Print E-mail
Written by Administrator   
Thursday, 18 July 2013 08:48

Registration Form
Child Saving Schemehild Saving Scheme

Loan Application Form

Short Term Loan Application Form

Instant (Okoa) Application Form

Mhasibu Direct Debits Form

Gurantorship Substitution Form



2018 Jan - Mar Newsletter

Mhasibu's 30th AGM 24/03/2018
Mhasibu Mobile App - How to Video

MSacco - How to Powerpoint Powerpoint

Mhasibu Sacco By-Laws
2017 Apr - Jun Newsletter

2017 Jan-Mar Newsletter


2016 - 2020 Strategic Plan 

Strategic Plan Extract for the Year 2011-2015

Final Audited Accounts 31st Dec 2017
Final Audited Accounts 31st Dec 2016

Final Audited Accounts 31st Dec 2015

Financial Report and Consolidated Financial Statement 31st Dec 2014

Final Audited Accounts 31st Dec 2014

Final Audited Accounts 31st Dec 2013

Final Audited Accounts 31st Dec 2012

Budget Proposals For the Year 2015/2016

Budget Proposals For the year 2014/2015

2015 Mhasibu Dividend & Interest Computation Template
2014 Mhasibu Dividend & Interest Computation Template

2013 Mhasibu Dividend & Interest Computation Template

2012 Mhasibu Dividend & Interest Computation Template
















This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Last Updated on Tuesday, 08 May 2018 11:22
More Articles...

Page 2 of 3