How to join Safaricom Sacco

Safaricom Sacco was established in the year 2001,and has grown tremendously over the years to a membership of over 12,000 members drawn from Safaricom Limited and other technology related companies.

Their main objective is to promote a savings culture among their members as well  as grant them loans  so that they may develop and improve their economic and social well being.

There are two ways you can join Safaricom Sacco;

  • Online through iconnect web portal
  • Download the registration form, fill it with your personal details, attach a passport photo, a copy of your id and KRA pin certificate and drop it at the nearest Safaricom Sacco office.

Below are the requirements you need to provide when joining Safaricom Sacco;

  • Pay an entrance fee of Ksh 1,000.
  • Purchase a minimum share capital of 400 shares of Ksh 1,000 each.
  • Contribute a minimum monthly contribution of Ksh 3,000.
  • Once you join, an SMS notification with your member number will be sent to your phone.

How to withdraw money from Fosa account to M-pesa

There are two ways you can withdraw money from your Fosa account to your M-pesa account

  • Through SAFCIRI app.
  • Through *345* USSD option.

How to withdraw money from Fosa account using SAFCIRI app

  • Download the  SAFCIRI app from Google play store and install it in your phone.
  • Open the app and you will be prompted to select two options i.e Activate and register
  • If you have used the USSD *345# or the app before select activate then jump to step 6 below
  • If it’s your first time ,select register then enter  your phone number .
  • An OTP (one time password) will be sent to your phone via SMS.
  • Enter your ID number when prompted.
  • Login to the app using the OTP and you will be prompted to change your password to your own 4 digit pin.
  • Click on activate account and select send me an activation key.
  • Enter your phone number and the pin number that you set.
  • Click OK. An activation code will be sent to your phone via SMS.
  • Finally enter your USSD pin to login to the app.
  • Select mobile money option.
  • Select withdraw and follow the prompts to finish the process.
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Safaricom Sacco Loans

Below are the type of loans that Safaricom Sacco offers to its members;

Type of loanInterest rate (p.a)Eligible AmountRepayment Period
Emergency 12%3 X shares12 months
Asset Financing12%3 X shares48 months
Faraji construction home9%5 X shares25 years
KMRC mortgage8%5 X shares25 years
Ustawi mortgage12%5 X shares15 years
Land12%3 X shares48 months
Fosa silver5% p.m4 X net salary6 months
Insurance premium12%3 X shares6 months
Business18%5 X shares24 months
Pamoja9.6%3 X shares6 months
Smart home12%3 X shares12 months
Education12%3 X shares12 months
Development 12%3 X shares72 months
Premium  12%5 X shares48 months
Car12%3 X shares48 months

All loans must be guaranteed either by guarantors or collateral such as title deed or log book.

How to pay Safaricom Sacco loans

You can repay Safaricom Sacco Loans through mobile banking. Below is the step by step process on how to do this;

  1. Go to M-Pesa  Menu
  2. Select Lipa na M-Pesa option.
  3. Enter Safaricom Sacco business number :: 505100
  4. Enter your account number in the format;Members ID Number then the Loan code e.g. 23654851PREM. Below are the codes for all the products.
  5. Enter the amount you want to repay the loan for.
  6. Enter and confirm your M-pesa pin.
  7. You will get a confirmation via SMS from SAFCOMSACCO.
Loan ProductShort Code
Advance ADV
College/education   COLL
Consolidation CON
Development DEV
Emergency EMER
Insurance INSU
Mid year MID
Premium PREM
Super premiumSUPER
Benevolent/hand of comfort  BEN
Xmass loanXMASS

Safaricom Sacco dividends 2020

The Safaricom Sacco issued a dividend rate of 12% per share and an interest rate of 7.5% on member deposits for the financial year 2020.

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Safaricom Sacco Contacts

For any enquiries, you can contact their customer care on 0111222226 or 0111222227.

You can also email them on


Safaricom Sacco is among the best sacco’s in Kenya to join, due to its high dividend and interest rate and also due to its outstanding reputation.

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