• WELCOME TO M-FONES SACCO


    OUR PRODUCTSABOUT US
  • SCHOOL FEES LOANS

    AT 0.83% INTEREST

  • SECURED LOANS

    UPTO 2M AT 1.33% PER MONTH

When you and I come together with our shared dreams and collective stories, we are able to achieve that which we would not otherwise accomplish on our own as individuals.

OUR PRODUCTS

  • Secured Loan

    • Security motor vehicle or share act as security
    • Maximum amount – 2 million
    • Maximum repayment period -36 months
    • Interest rate -16%p.a i.e 1.33% p.m
    • Processed within 7 days
    • Vehicle should be 10 years old and below.
  • Development Loan

    • Maximum amount – 3 million
    • Maximum period_48 months
    • Interest rate – 12% p.a, 1% per month on reducing basis
    • Processed within 3 days
  • School Fees Loan

    • 0.83% interest
    • Paid direct to school
    • Period -12 months
    • Maximum amount – Ksh 100,000
  • Jijenge Loan

    • Paid within  6 months and processed within  1 day at a flat rate of 24%
    • Maximum amount -100,000
  • Asset Financing

    • Asset purchased act as security
    • Interest rate -16%p.a i.e 1.33%p.m
    • The vehicle should be 12 years from date of manufacture
  • Instant Loan

    • Processed within the same day and repaid within a month maximum amount kshs 20,000
    • Interest Rate – 5%
  • Comfort Loan

    • Payable within 3 months at a rate of 15%
    • Maximum amount -50,000

APPLICATION FOR MEMBERSHIP

  • Fill membership application forms
  • ID copy
  • Passport size photograph
  • Registration fee Kshs. 1000
  • Ordinary share capital Kshs. 8000
  • Fill nomination benefit form

TO QUALIFY FOR A LOAN

  • A member must have saved for at least six months
  • All lump sum deposit have a maturity of six months before qualifying for a loan
  • All other loans apart from instant are approved weekly
  • All other loans apart from secured loan are secured against members share deposit and guarantors
  • A member can only borrow 3 times of his/her share for total loan

BENEVOLENT FUND

Members will be part of a benevolent fund with an annual premium of Kshs. 1500. A member will be required to fill the form and provide birth certificate of the kids and ID of the spouse or marriage certificate or affidavit. The comes with the following benefits:

  • Member’s Death – Kshs. 100,000
  • Spouse death – Kshs. 100,000
  • Death of any 2 children, each – Kshs. 50,000
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