Saving while you are still young, energetic and productive, is a smart financial move. If you are earning an income, and are thinking about where best you can save that money, you need to consider a SACCO. The country’s famed co-operatives sector appears to be growing pretty fast with more and more Kenyans jumping into the fray.
However, there are many people who are often disappointed when they cannot secure loans, especially where they are unable to mobilize members to act as guarantors or due to restrictions on direct withdrawal from their savings.
In this article, we highlight a Sacco that will benefit you and secure your future:
Return on investment
Saccos give dividends annually to their members. Members are entitled to a dividend because they are shareholders. The dividend members get depends on the profit Saccos make. Individual member savings will determine the rate of dividend one gets.
With the Kuscco housing fund at KUSCCO, the investment projects they avail to members are an investment sure bet. The Sacco offers unbeatable mortgage scheme that will:
1. Extend loans for construction of houses/homes for SACCO members and office blocks for SACCOs;
2. Facilitate outright purchase of residential houses
The housing fund has two main products:
1. KUSCCO Home Loan ( Three bedroom homes with detached servant quarter on 1/8 of an acre plot: 120 HOMES)
2. KUSCCO House Master Loan
KUSCCO’s Tenant purchase Scheme arrangement allows a buyer pay 10% of the cost i.e. Kshs.1
million, get access to the house as he/she pays the balance in 15 years at an interest rate of 9.5%
p.a. calculated on reducing balance basis. With this, you are ensured authentic property.
Lowest interest rates on loans
While most SACCOs charge an interest rate of 12% on loans, KUSCCO goes as low as 9.5% p.a on house funding.
With that said, I hope you know the next step of action. And to help you get started, here is how to apply to join KUSCCO. Hop on board and start investing in your future today.