Laika Sacco Society LTD

To improve the living standard of members through provision of high quality financial products at affordable rates.

Our Products

Core Business

Improve members’ social –economic status through; mobilizing of savings and offer credit at affordable interest rates.

Common Bond

Members are drawn from Del Monte Kenya, Other related organizations/individuals and the informal sector.

Membership

Completion of membership form Application fee of Kshs.1000/= Copy of the National Identity Card

SAVING PRODUCTS

Shares/deposit account/withdrawable deposits.

Share Capital

Each member shall purchase at least 300 shares of Kshs.20/= each. Shares shall not be refundable or assignable as collateral for loan, but are transferable to other members upon exit from the society.

Deposits

This are monies deposited with the Sacco either through Check off system/Mpesa or Cash. Can be used as collateral for loans. Refundable after 60 days upon withdrawal of membership and clearance of pending debts & free from guarantee. Minimum Deposit of Kshs.1500/= monthly.

Withdrawable Deposits – JIBEBE

Members are allowed to save and withdraw at the end of twelve months plus interest of 5%.

Junior Account/Mtoto Mpendwa

Designed to provide a savings facility for parents to save for their children who have not reached majority age. Earns of 5%.

CREDIT FACILITIES

Loans provided ranging from 1 month to 48 months or as shall be determined by the BOD.

Developement Loans

Given 3 times your deposit
Payable in 48 months
Interest rate @ 1% per month reducing balance
Four Guarantors

Emergency Loan

Applied in the event of urgent unexpected occurrences
Processed in 24 hours
Payable in 12 months
Interest rate @ 1.75% per month fixed rate

School Fee Loan

Given alongside other loans
3 times member’s deposits
Payable 12 months
Interest rate @ 1% reducing balance

Instant Loan

Processed as you wait
Payable in 12 months
Paid through M-PESA
Interest rate @ 2% per month paid up front

Okoa Siku Loan

Processed as you wait
Payable in 2 months
Paid through M-PESA
Interest rate @ 10% per month paid up front

Holiday Loan

Processed as you wait
Payable in 3 months
Paid through M-PESA
Interest rate @ 10% per month paid up front

Karibu Loan

Applicable to new check off members
1/3 rd of amount retained as share capital and deposits.
Processed in 48 hours
Payable in 12 months
Interest rate @ 1.5% per month reducing balance

INSURANCE

This is a scheme for all Sacco members.Members who are granted loans pay 1.25% per Kshs.1000/= for loan taken. This fund is used to pay for insurance premium and in the event of a member's death it pays off the outstanding loan and deposit is refunded two times. Funeral expenses payment kshs.30,000/=

About Us

We Are
Laika Sacco Society LTD

Laika was initially registered on 9th July 1997 as Chania Nursing Home Sacco, to serve Delmonte members, Chania nursing home and other related organizations/ individuals in the informal sector under a common bond.The society changed its name from Chania Nursing Home Sacco to Laika Sacco Society in the month of September 2014.

Become a member by downloading the form here

Sacco Motto

Saving today for a better tomorrow.

Vision Statement

The leading Sacco in the region.

Mission Statement

to improve living standards of members through provision of high quality financial products at affordable rates.