Strategic DT Sacco is a financial cooperative formed in May 2007, originally established to serve employees of Strategic Industries Limited. Since its inception, the Sacco has expanded its membership to include employees across various industries and the broader business community. The Sacco was created with a clear mission: to pool savings from members, enabling them to access affordable loans and grow their financial potential.
In this article, we’ll explore the membership eligibility, requirements, and the range of products offered by Strategic DT Sacco.
Membership Eligibility
Strategic DT Sacco offers membership to individuals from diverse market segments. To be eligible, one must:
- Be at least 18 years of age.
- Show commitment to regular savings and participation in the Sacco’s activities.
Membership Requirements
To join Strategic DT Sacco, interested individuals must meet the following requirements:
- Application Form: Complete a membership application form available on the Sacco’s official website.
- Registration Fee: Pay a registration fee of Kshs 1,000.
- Identification: Provide a copy of your ID and KRA PIN.
- Monthly Contribution: Make a minimum monthly contribution of Kshs 1,500.
- Shareholding: A member must hold a minimum of Kshs 10,000 in shares.
Savings Products
Strategic DT Sacco offers various savings products to cater to its members’ financial goals:
- Sacco Junior Account:
- Minimum monthly saving of Kshs 200.
- Withdrawals allowed once a year (earlier withdrawals incur a Kshs 500 charge).
- Minimum interest-earning balance of Kshs 3,000.
- No monthly charges, and children receive annual birthday wishes.
- Holiday Saving Account:
- Allows members to save for at least six months.
- Minimum monthly deposit of Kshs 200.
- Members can withdraw their full savings at the end of the period and start afresh.
- Member Deposits:
- A general savings solution for members, requiring a minimum monthly contribution of Kshs 1,500.
Credit Products
Strategic DT Sacco provides a range of loan products tailored to meet the needs of its members:
- Development Loan:
- Loan processing fee of Kshs 500.
- Repayment period of up to 36 months.
- Low interest rate of 1% per month on a reducing balance.
- Business Loan:
- Loan amount is 3 times the member’s savings.
- Maximum repayment period of 48 months.
- Interest rate of 2% per month.
- Emergency Loan:
- Multiplier of 3 times member’s savings.
- Maximum repayment period of 12 months.
- Processing fee of Kshs 300, with an interest rate of 1.25% per month.
- Asset Finance:
- Up to 50% financing.
- Maximum repayment period of 36 months.
- School Fees Loan:
- Multiplier of 3 times member’s savings.
- Repayment period of up to 12 months.
- Low interest rate of 1.25% per month.
- Refinancing Loan:
- A top-up facility for members with a development loan.
- Requires repayment of at least two-thirds of the principal before top-up.
- Express Loan:
- Maximum loan amount of Kshs 20,000.
- Repayment period of up to 5 months.
- Interest rate of 5% per month on a reducing balance.
- Golden Loan:
- Maximum loan amount based on member’s savings.
- Repayment period of up to 10 months.
- Low interest rate of 4% per month.
- Instant Loan:
- Maximum loan amount of Kshs 10,000.
- Repayment period of up to 3 months.
- Interest rate of 10% on a reducing balance.
- Product Loan:
- Loan amount is 3 times the member’s deposits minus any outstanding loan balance.
- No processing fee.
- Repayment period of up to 6 months.
Strategic DT Sacco Contacts
- Location: 3rd Floor, Lunga Lunga Square, Lunga Lunga Road, Industrial Area, Nairobi.
- Contacts: 0799 213 432 / 0799 848 832
Strategic DT Sacco stands as a robust institution for individuals looking to save and access affordable loans. With diverse products ranging from savings accounts to development loans, it provides a pathway for financial stability and growth for its members.
