AFYA Sacco is a Deposit Taking (DT) SACCO and is Licensed and regulated by SACCO Societies Regulatory Authority (SASRA).
Membership is open to Citizens of Kenya as follows
The Sacco does not have a 24/7 customer service center. However, you can reach us on 0715 331 111 during the official working hours
The following documents are required:
THREE – Shares Capital Account, Non-withdrawable Deposits Account and FOSA Account
YES – You may continue with your membership as a private member while making minimum monthly contributions of Kes. 5,000 together with the monthly welfare fund contribution of Kes.300. The monthly contributions can be done through PAYBILL No. 570200 , deposits to AFYA SACCO bank account or over the counter at any of our FOSAs. You can also use AFYA SACCO FOSA as your pension pay point and continue enjoying a variety of our products. Members who have received retirement letters are allowed partial withdrawal of up to 50% of their deposits, while continuing to be
members.
Member’s deposits are refunded after 60 days of receiving written membership withdrawal instructions subject to terms and conditions which 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.
Shares continue earning dividends and can also be transferred/sold to another member subject to the
SACCO terms and conditions.
With the approval of the board, a member who wishes to resign from AFYA SACCO may at any time
transfer shares to another member but not to a non-member. Such transfers must be in writing by
both the member exiting and the member buying the shares.
“A nominee” means a person appointed by a member to inherit the shares, deposits, and other interests in the Sacco society upon their death.
A member becomes eligible after meeting the minimum share capital requirement and a membership period of six months.
Ordinarily members qualify for a loan after Six (6) months of active membership. Some loans are accessible from the second month after receiving first deduction for check off members. Loans are advanced at multiple times of a member’s deposits depending on the loan products subject to ability to pay. A member’s ability to pay is determined through the pay slip and/or certified bank statements for the past six months. Members can access the loan calculator through the online
portal.
The maximum loan a member can be given at any one time is subject to a member’s ability to repay the applied loan while continuing to maintain their membership. A member must take home at least 1/3 of his/her pay after all deductions for check-off loans.
While granting loans, the members’ Gross Salary in our case (Basic plus Fixed Allowances) is considered and the Sacco is expected to utilize a maximum of 2/3rd of the gross salary after the
deduction of statutory deductions such as PAYE, NSSF, SHIF, HELB etc. thereby leaving the member with a take home pay of not less than 1/3rd
A loan can be rejected on account of the following reasons
YES – A member can have more than one loan of different product types, subject to the member’s deposits and ability to pay.
Depending on a loan product and type of interest application, Interest is applied monthly on the principle loan balance or runs as per the loan schedule.
Loans advanced to members must be fully secured. Security for loans can be in form of guarantors or other perfected collateral such as land, motor vehicle or fixed deposits. Members taking loans less than their deposits can guarantee their loans (self-guarantee) using their deposits but only if they have not guaranteed other members.
Loans are disbursed according to schedule on FIFO basis.
To make payments through MPESA, Go to Lipa na MPESA, Use the PAYBILL option, Enter business number 570200, Enter the account number plus the code representing the specific product that you are paying for. e.g. 12345678NORL for Normal Loans
A member is only allowed to offset his/her deposits against any loans if he is ceasing to be a member. He must then pay off the loan balance immediately if any. Offsets are only done when a member has asked those, he has guaranteed to seek guarantor replacements.
No interest or penalty is charged for clearing a loan earlier than the contracted period.
FOSA (Front Office Services Activity) is a SACCO product that offers basic banking services similar
to those offered by commercial banks. However, FOSA is not a clearing agent with Central Bank of
Kenya (CBK) and therefore some services are conveyed via our partner commercial banks.
All active members who are eligible open accounts with AFYA SACCO.
Some of the benefits include:
The Sacco offers the following modes of payment.
You withdraw funds by dialing *667*2# or downloading the AFYA SACCO App from Google Play Store. A member must have filled in the mobile banking application form to access mobile banking
services.
NO – Members can access their statements through the online member portal found on the SACCO website. Once on the portal, new users are required to click on REGISTER NEW MEMBERSHIP and follow the prompts to receive a start key. The start key will be sent to the member’s mobile phone number and email that are in our records. Click here to access Member Portal
The welfare amount is mandatory for all members. The contribution pools into a sinking fund that assists in the following ways:
The next of kin is required to submit a letter from the employer, area chief or delegate confirming the occurrence of the case and relationship to the member and a stamped burial permit. The following additional documents are required:
The insurance benefits are as below:
In the unfortunate death of a member the insurance covers the following:
When a member has total and permanently disability:
If you have any questions that are not covered in the FAQs, please reach out to us. Our team is always ready to assist and provide the information you need. You can contact us through our customer care lines, email support, or by visiting your nearest Afya SACCO branch.
Frequently asked questions about our membership.
Afya SACCO is a member-owned financial cooperative that provides savings, loan, and investment solutions to help individuals and groups achieve financial stability and growth.
Afya SACCO is a member-owned financial cooperative that provides savings, loan, and investment solutions to help individuals and groups achieve financial stability and growth.
Afya SACCO is a member-owned financial cooperative that provides savings, loan, and investment solutions to help individuals and groups achieve financial stability and growth.
Afya SACCO is a member-owned financial cooperative that provides savings, loan, and investment solutions to help individuals and groups achieve financial stability and growth.
Frequently asked questions about our savings products.
Afya SACCO is a member-owned financial cooperative that provides savings, loan, and investment solutions to help individuals and groups achieve financial stability and growth.
Afya SACCO is a member-owned financial cooperative that provides savings, loan, and investment solutions to help individuals and groups achieve financial stability and growth.
Afya SACCO is a member-owned financial cooperative that provides savings, loan, and investment solutions to help individuals and groups achieve financial stability and growth.
Afya SACCO is a member-owned financial cooperative that provides savings, loan, and investment solutions to help individuals and groups achieve financial stability and growth.
Frequently asked questions about our loan products.
Afya SACCO is a member-owned financial cooperative that provides savings, loan, and investment solutions to help individuals and groups achieve financial stability and growth.
Afya SACCO is a member-owned financial cooperative that provides savings, loan, and investment solutions to help individuals and groups achieve financial stability and growth.
Afya SACCO is a member-owned financial cooperative that provides savings, loan, and investment solutions to help individuals and groups achieve financial stability and growth.
Afya SACCO is a member-owned financial cooperative that provides savings, loan, and investment solutions to help individuals and groups achieve financial stability and growth.
AFYA SACCO is a member-driven financial cooperative dedicated to empowering Kenya’s health community through reliable savings, affordable credit, and sustainable financial solutions.
Supports long-term savings and access to affordable loans for personal, business, and investment growth.
Provides convenient day-to-day banking services including savings, withdrawals, payments, and salary processing.
Features
Features
Features
These accumulated savings serve as essential collateral for credit facilities and earn competitive annual interest (rebates) for the duration of the membership. Funds are refundable only upon formal withdrawal from the Sacco, contingent on the full settlement of all outstanding liabilities and guarantee obligations
Representing a member’s permanent ownership stake, these non-withdrawable units are transferable instruments that earn annual dividends based on institutional profitability. Members must maintain a minimum threshold of KES 20,000, which can be achieved through lump-sum payments or structured periodic contributions.
This specialized product supports retirees whose pensions are processed through FOSA, offering credit within their existing deposit limits for medical or development needs. It features a preferential low interest rate of 0.5% on a reducing balance with a 36-month repayment cycle.
Features
A long-term financing solution for business expansion or development, providing up to four times member deposits with a tenure of up to 84 months. It features a 15% amortized interest rate and accepts diverse collateral, including logbooks and title deeds.
Features
Features
This product targets medium-term projects and educational funding for consistent contributors of at least six months, offering up to three times their savings. It is fully secured by guarantors and deposits, with a 48-month repayment period at 1.17% monthly interest on a reducing balance.
Features
Features
Features
