Chai sacco forms 2025

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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.
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.
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).
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.
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.
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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.
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.
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.

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