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Click ‘Get Form’ to open the chai sacco variation application form in the editor.
Begin by filling out your personal details. Enter your name, payroll number, member number, employer's name, department, terms of service, ID number, and mobile number in the designated fields.
Specify the effective date for your application by selecting the day, month, and year from the dropdown menus provided.
For deposits (shares) contribution, input the amounts in the 'From' and 'To' fields for both deposits and savings contributions.
Next, indicate your chai angel contribution amounts in the respective fields. Repeat this process for loan repayments by selecting the loan type and entering amounts as needed.
Finally, review all entered information for accuracy before signing and dating the form at the bottom.
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The savings can be accessed through mobile banking platforms such as M-chai *645#, Chai pesa *882#, Chai Pesa and Mchai mobile App, ATM card or withdrawal via the counter. Unlimited withdrawals. The account is open to all Chai Sacco members.
How do I join Chai Sacco?
Membership requirements and application procedure: The member must be 18 years and above. Provide a copy of valid Kenyan Identity card and/or passport for Kenyans living in the diaspora. Provide a passport size photograph. Dully filled and signed membership form. Pay the required membership fees i.e. Kshs 1,000.
How long does it take to withdraw shares?
Immediate Availability (100%): As per the NSE circular dated October 4, 2024, when you sell shares from your Demat holdings, 100% of the sale amount will be available within 30 minutes for use in Stocks FnO trading. Full Withdrawal: You can withdraw the full amount after 10 AM on the next trading day (T+1 day).
How do you qualify for a chai Sacco loan?
Must have been a member of the Sacco for at least three months. Must have a regular source of income to support loan repayment (salary, business, farming etc.) Must provide security to for the loan applied for such as guarantors, logbooks, title deeds etc. All deductions should not exceed 2/3 of gross salary.
How long does it take to withdraw shares from a sacco?
Whats the withdrawal and refund of shares process? A member should write a letter requesting termination of membership and submit it to the nearest Sacco office. The process takes a minimum of 60 working days, subject to the current policy on refunds.
Share capital is the portion of equity that a member owns in the Sacco. The amount is not withdrawable, but transferrable to another member in the case of termination of membership. Member deposits are the savings that are used as eligibility for a member to get a loan.
How long does it take to withdraw from Sacco?
Members deposits are refunded after 60 days of receiving written membership withdrawal instructions. This will require that a member has cleared all liabilities to the SACCO and has been replaced as a guarantor for any loans guaranteed by the member. A member is refunded 100% of their deposits.
How long does it take to pay out shares?
You can expect to receive the money in your bank account within four to five business days after your sell order has been matched and executed.
chai sacco portal login
Savings and Credit Cooperative Organization (SACCO)
Apply for a loan: You will need to fill out the application form and submit your business plan, which the loan committee will review and approve, provide proof
Jan 23, 2015 Simba Chai Sacco Society Limited. P.O. Box 977-20200, Kericho. Siraji private entities who intend to engage in and/or undertake any form of.
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