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.

BOSA transfer

Members can transfer money from their POFOSA accounts to their BOSA deposits.

Loan Request

Members can apply for FOSA salary advances and dividends advance.

Change Pin

Members can change their Pin numbers as they wish.

Balance enquiry

Members can enquire their account balances for Loans, Shares, Deposits and other POFOSA accounts.

Loan Repayment

This service allows members to repay their BOSA and FOSA loans.

Mini statement

Members can get a mini-statement for the last 5 transactions

Deposit

This service is not available on this menu. Kindly use the following steps:-

  1. Go to M-Pesa
  2. Lipa Na M-Pesa
  3. Paybill
  4. Paybill number is: 169500
  5. Account number: 502-0xxxxx-00 (for savings) or 508-0xxxxx-00 (for investment)

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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