How to get a loan from Kenya Police Sacco, MSacco Mobile Banking
About the Kenya Police SACCO
Kenya Police SACCO Limited was registered on 20th November 1972 and was issued with a registration certificate number CS/2092. The Society started with a membership of 690 and has since grown to 63,450 members. It has 12 elected members; 9 form the Board of Directors and 3 the Supervisory Committee.
About MSacco
M-Sacco is a mobile banking platform which enables our members to transact through their mobile phones at the comfort of their workplaces/homes. This solution was launched on 17th February 2011 and has since become a channel of choice. Members fill an M-Sacco application form and submit to the Sacco for processing. Registration applies to M-Pesa registered Safaricom lines only. By dialing *346# members get the following services.
Withdrawal
Allows member to make withdrawals from their POFOSA accounts.
How to get a loan from Kenya Police Sacco, MSacco Mobile Banking
Kenya Police SACCO is pleased to inform its members that short term loans can now be
accessed on a mobile phone. The procedure to access these services is as follows:-
1.Dialing *346# and entering your PIN
2.Choose option 3. Loans by entering 3
3. Choose option 1 by entering 1
4. Choose an option that you need 1,2,3, and 4
5.Conditions for option 1. Three (3) Months Advance
- MUST process salary through POFOSA
- MUST not be a defaulter
- Interest rate is 2% on reducing balance
- System will appraise and advise you on the amount you qualify for as soon as
you enter 1
6.Conditions for option 2. Three (6) Months Advance
- MUST process salary through POFOSA
- MUST not be a defaulter
- Interest rate is 3% on reducing balance
- System will appraise and advise you on the amount you qualify for as soon as
you enter 2
7. Conditions for option 1. Three (9) Months Advance
- MUST process salary through POFOSA
- MUST not be a defaulter
- Interest rate is 4% on reducing balance
- System will ask for mobile numbers of 2 guarantors.
- The guarantor MUST be a registered MSACCO user
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