wazua Thu, Mar 26, 2026
Welcome Guest Search | Active Topics | Log In

Bank Account
Options
Previous Topic · Next Topic
spgizzi
#1 Posted : Tuesday, January 04, 2011 11:32:52 AM
Rank: New-farer

Joined: 8/10/2010
Posts: 14
Location: Nairobi
Happy new year guys. I and a couple of ma friends are planning to start a small Sacco where we contribute and one can get a loan 3 times his/her contribution after 6 months. I was jus wondering about the banking part of it. I wanted to know which is the best bank/Account to save our money in.Like in equity bank i hear there is a jijenge savings account,which is the best account for a small and starting sacco like ours??
Back to top
  |
bird_man
#2 Posted : Tuesday, January 04, 2011 11:53:23 AM
Rank: Veteran

Joined: 11/2/2006
Posts: 1,206
Location: Nairobi
@spgizzi, also talk to Coop Bank.Also take note that if you are to register your organization as a Sacco, you will have to be registered by the new Sacco Regulatory Authority (SASRA). They have several litmus tests you have to pass before getting registered.
Formally employed people often live their employers' dream & forget about their own.
Back to top
  |
groupielove
#3 Posted : Wednesday, January 05, 2011 12:15:33 PM
Rank: Member

Joined: 6/21/2010
Posts: 119
Location: Nairobi
Try Barclays bank. I have a sacco ac there (can't rem the name) but they issue you with free cheque, no minimum but you earn interest per month on anything above 5k. No monthly charges and so many more.
Back to top
  |
Gordon Gekko
#4 Posted : Wednesday, January 05, 2011 12:26:35 PM
Rank: Elder

Joined: 5/27/2008
Posts: 3,760
groupielove wrote:
Try Barclays bank. I have a sacco ac there (can't rem the name) but they issue you with free cheque, no minimum but you earn interest per month on anything above 5k. No monthly charges and so many more.


Uwezo account, my group has one, but the interest rates are a bad joke.
Back to top
  |
bendi3
#5 Posted : Wednesday, January 05, 2011 3:35:34 PM
Rank: Member

Joined: 9/14/2010
Posts: 106
bird_man wrote:
@spgizzi, also talk to Coop Bank.Also take note that if you are to register your organization as a Sacco, you will have to be registered by the new Sacco Regulatory Authority (SASRA). They have several litmus tests you have to pass before getting registered.



I am interested in starting a sacco with a few of my friends.I am interested in finding out the requirments in starting one.Pray Pray Pray Pray Pray
The early worm, is the one caught by the early bird.........
Back to top
  |
spgizzi
#6 Posted : Thursday, January 06, 2011 10:53:58 AM
Rank: New-farer

Joined: 8/10/2010
Posts: 14
Location: Nairobi
@Bird-man We want to start off as just a group then later when we get enough capital we can register with the authorities,right now we will jus run as a group with a sacco platform
Back to top
  |
spgizzi
#7 Posted : Thursday, January 06, 2011 10:57:02 AM
Rank: New-farer

Joined: 8/10/2010
Posts: 14
Location: Nairobi
@Groupielove Thanks alot..r go there and find out.
@Elder how bad are the interest rates? Ave you tried investing with an insurance company??
Back to top
  |
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Wazua Market Theme
Powered by YAF | YAF © 2003-2009, Yet Another Forum.NET
Copyright © 2026 Wazua.co.ke. All Rights Reserved.