Bandari SACCO, one of Kenya’s top deposit-taking cooperative societies, was founded in 1975 to serve employees of the Kenya Ports Authority, Kenya Maritime Authority, and Kenya Ferry Services. Over the years, it has expanded to accommodate members from various sectors across the country.
With a current asset base of over Ksh 12 billion and a growing membership of more than 16,000 individuals, Bandari SACCO continues to offer a wide range of financial solutions tailored to meet the needs of its diverse clientele.
Bandari SACCO Products and Services
A. Credit Facilities
To qualify for a loan from Bandari SACCO, members must meet the following conditions:
- Maintain consistent savings and deposit contributions for a minimum of six months.
- Be fully paid-up members, including the required share capital.
- Have the financial capacity to repay loans, as demonstrated by their financial statements.
Loan Products Offered Include:
- Biashara Personal Loan – Designed for members operating registered small to medium-sized businesses.
- BOSA One-Month Loan – A short-term advance against an ongoing long-term loan, repayable within one month.
- Emergency Loan – Covers urgent needs like medical expenses, bereavement, disasters, or other critical situations.
- Asset Finance – Enables members to acquire tangible assets like vehicles, land, or machinery, backed by legal ownership documents.
- FOSA One-Month Loan – A salary-backed loan payable within one month.
- FOSA Advanced Loans (6 & 12 Months) – Short-term credit facilities tied to members’ salaries and account activity.
- FOSA Consumer Loan – Supports purchase of goods or services from accredited suppliers.
- FOSA Development Loan – A two-year loan for significant personal projects, assessed on deposit trends and salary inflows.
- FOSA Hybrid Loan – A short-term facility repayable in three months.
- FOSA Special Loan – Tailored for FOSA account holders, repayable over four years.
- Microfinance Loan – Supports business growth for SMEs (small and medium enterprises).
- Normal Loan – Facilitates member development such as home construction or land acquisition.
- Nyangumi Loan – Long-term loan (up to 84 months) for permanent and pensionable employees with non-withdrawable deposits exceeding Ksh 1 million. Security includes land titles, vehicle logbooks, or chattels.
- School Fees Loan – Provides short-term support for members to cater for their dependents’ education needs.
- Welfare Group Loan – Targets formally registered welfare groups with income-generating ventures.
B. Savings Products
- DAU Junior Savings Account
Encourages children to develop saving habits.- No minimum balance
- Minimum Ksh 500 to earn interest
- Quarterly withdrawals permitted
- Birthday and annual event perks
- Personal Savings Account
- Ksh 1,000 minimum opening balance
- No monthly maintenance fees
- Earns competitive interest
- Linked to ATM services and standing orders
- Holiday Savings Account
- Minimum monthly deposit: Ksh 2,000
- One withdrawal annually
- Optional credit facility
- Landlord Account
- Ksh 5,000 opening balance
- Helps track rental income
- Offers access to property development loans
- Networking opportunities within real estate
- Fixed Deposit Account
- Interest rates between 5% and 10%
- Deposit certificates accepted as security
- Renewable upon maturity
- Chama Savings Account
- Suitable for registered groups
- Minimum monthly deposit: Ksh 5,000
- Earns interest on savings and share capital
C. Share Capital
Bandari SACCO members are required to hold shares valued at Ksh 30,500. These shares are not withdrawable or used for loan guarantees, but they earn annual dividends. Members can pay the full amount upfront or contribute progressively.
Bandari SACCO Branches and Contact Information
- Head Office – Mombasa
Location: Bandari SACCO Building, Moi Avenue
Phone: +254 41-2316685, 0724-002525, 0735-336685
Email: [email protected] - Nairobi Branch
Location: KPA Inland Container Depot, Embakasi
Phone: +254 700 192355 - Kisumu Branch
Location: Swan Centre Building
Phone: +254 113 892773
Email: [email protected]
If you’re considering a reliable SACCO in Kenya for personal or group financial needs, Bandari SACCO offers flexible solutions in both savings and credit facilities with a proven track record of performance and member support.
READ MORE: How to Join Hazina SACCO
