While many options are available when making savings and investment decisions, we at Mombo Sacco believe that we offer the best solution and financial rewards.
Mombo Sacco is a lean, efficient and fast-growing society, whose management embraces cheap, adaptable and durable strategies that are designed to reap maximum benefit for its members.
Mombo Sacco’s overarching strategy is geared towards enabling its members inculcate a culture of saving, while simultaneously allowing them access to credit based on their savings. This approach combines comfort and growth, and ensures our members financial security in a very dynamic and fast-changing economic environment.
Using the online account, members can keep track of payments, the interest they have earned on their deposits, their loan repayment balances, and they can vote on specific affairs of the Sacco or even chat with other Sacco members through an in-house chat forum.
The online account is easily accessible, either through our Mobile phone application or as a portal through our website.
Our members are entitled to a borrowing package, based on their savings, which is up to five (5) times their savings.
While borrowing, our members can also guarantee other members against their savings.
The lean operational and management strategy that we have adopted at Mombo Sacco has lowered our operational costs significantly, enabling us to offer our members very competitive interest rates.
Based on their savings, members earn an annual interest rate of six (6) percent.
Our transactions are largely paperless, which, combined with our low operational costs, enable us to free our members from the burden of multiple transaction fees.
While transacting, Mombo Sacco uses national and international money transfer services, including online bank transfers.
Mombo Sacco has partnered with Liberty Life Holdings to insure our members’ savings against death, permanent disability and critical illness. All member savings – or 100% of member savings – are insured.
In the event said calamities befall our members, the affected member or his beneficiaries will access twice the value of their savings.
NOTE: An applicant admitted into membership will only qualify for a loan after three (3) months of their membership and having contributed the minimum shares and deposits as approved by a general meeting.