stima sacco mortgage facilities

YOU CAN NOW BUY YOUR residential house or purchase land for construction at competitive rates.

KMRC MORTGAGE

This is a mortgage loan product under the Kenya Mortgage Refinance Company (KMRC) refinancing program. The KMRC Mortgage loan will enable Stima Sacco Members to buy a residential house or purchase land for construction at competitive rates

Security for the property is the title for the property being bought or under construction. An additional tangible security may be required where the property is not sufficient to cover the loan.
Product Benefits
• Enable members access funds at competitive rates.
• Flexible security requirements

The mortgage facility is available to
1. Individuals in permanent employment or on contract.
2. Individuals in Business or those who have rental income.

Eligibility

• Must be a member of Stima Sacco.
• Must be salaried.
• Must have made uninterrupted 6 months regular contributions prior to application date.
• Must have ability to pay. (Loan repayment not exceeding 2/3 of their basic pay)
• Within the retirement age 
• Applicant should have been in work/employment for at least 12 months and in current employment for at least 6 months.
• First time homeowners only

Product Feature

• Interest rate: 9%
• Method of calculation: Reducing Balance.
• Loan insurance fund and seed loan: 1.5%
• No bridging of other loans.

•Disbursement can be done in tranches for a maximum period of 6 months for construction loans.
• No grace periods.
• Loan Tenor: Up to 25 Years (Subject to remaining contract period).
• Mode of Repayment:
       • Check off.
       • Direct Debit- Frequency of repayment: Monthly.
• Mode of Loan Disbursement:Direct credit to Prime Account.
• Loan Amount: max. Kes 4 Million.
• Deposit. Minimum alpha deposits of Kes 200,000/= and minimum shares of Kes 25,000/=
• Contractual monthly deposit: Kes 1,000/=
• Property insurance cover- To be done annually by M-Pawa Insurance Agency.

Apply for a KMRC Mortgage

Fill in the details below and one of our representatives will get back to you

MAKAAZI POA

The Makaazi Poa is a Micro Mortgage loan product that is dependent on the purpose and duration as follows.

SUBCATEGORY
LAND PURCHASE
WHOLE HOUSE CONSTRUCTION/ PURCHASE -1
WHOLE HOUSE CONSTRUCTION/ PURCHASE -2
HOME IMPROVEMENT
AMOUNT RANGE (Ksh)
Upto 3,000,000
Upto 4,000,000
4,000,001- 15,000,000
Upto 500,000
PURPOSE
Land Acquisition
WHOLE HOUSE CONSTRUCTION/ PURCHASE
Home Improvement
INTEREST RATE % (Reducing Balance)
14.5%
14.5%
15.5%
14.5%
SEED LOAN
1.25%
1.25%
1.25%
1.25%
INSURANCE FUND
0.75%
0.75%
0.75%
0.75%
REPAYMENT PERIOD
60 Months
60-120 Months
144 Months
24 Months
LEVERAGING ON DEPOSIT
*5
*5
*5
*5

Apply for a Makaazi Poa Mortgage

Fill in the details below and one of our representatives will get back to you

remittance options

A.

  • Customer downloads app pesadirect or visits www.pesadirect.com
  • https://play.google.com/store/apps/details?id=com.pesadirect.app
  • https://apps.apple.com/us/app/pesadirect/id1544980130
  • After installing the app, enter the amount to Send and click “continue”
  • Click “Sign Up” or login if you had previously registered on Pesadirect.com
  • Sign up as a new user
  • Select Receive Method as “Bank or Sacco Deposit”. Click “Add new Bank or Sacco”
  • Select Stima Sacco from the list
  • Enter your Stima Sacco Account Number 802*******00, and click “Add Bank or Sacco”
  • Add your method of payment (Debit Card preferred)
  • Review order information, and if OK, click “confirm”
  • Your Transaction is Complete! You may download the receipt for your records

B.

Bank details to use

  • Account name: Stima Sacco Society
  • Account number: 01120069062600
  • Bank: Cooperative Bank
  • Branch: Stima Plaza Branch
  • Swift Code: KCOOKENA
  • Branch Code: 11035

C.

Members with mpesa access can send directly using the Paybill options below.

Deposit using Mpesa

  • You need to be an M-PESA registered customer
  • Go to M-PESA on your phone menu
  • Select Payment Services/ Lipa na M-Pesa
  • Select Pay Bill Enter 823244

For Monthly Deposit, enter 802xxxxxxx00, where xxxxxxx is your member number.

For shares Capital, enter 800xxxxxxx00, where xxxxxxx is your Member number.

For Deposit into Prime a/c enter 801xxxxxxx00, where xxxxxxx is your member number.

NB: Your membership number ought to be seven digits.

  • Enter the amount you wish to pay
  • Enter your M-PESA PIN, confirm details are correct and press OK