What’s the use of saving in a sacco if I don’t have guarantors for the cheap loan that’s the reason I went there in the first place?
Hakuna loan cheap kwa Sacco, lenders wote kenya wanapeana pesa yao na 14% au zaidi.
Sacco ni za yule mtu kwa kawaida hawezi pata unsecured loan kwa bank.
Sacco ni mbaya zaidi kuliko bank, unakopa savings zako tu na za guarantors wako.
Sacco ziko Kenya, India, na zile country zinaendelea vibaya.
Sacco zinarudisha nchi nyuma.
Really
Hapa umenoa kaka. Credit unions ziko.mpaka kwa developed societies.
Kwa ivyo mkuu unasema tu pesa zangu afadhali nirudishe nisave Kwa bank? It’s what I did before a friend convinced me to join a sacco
Saccos offer higher loans with more flexible terms compared to banks (Deposits *3or4 ),
Most Banks will not accept payslips as a form of guarantee especially if you are not from the Top Companies, Hence the Reason Saccos are better,
Kenya is a poor country so Sacco’s are a necessary evil. They offer an avenue for the unwashed masses to accumulate capital and access credit. Watu wangapi wanaweza save 10k every month na wakue na discipline ya kukosa kwenda ATM kikiumana.
S
Shida ni ati Sina ao watu wa kuguarantee, so I can only borrow up to 95% of my savings. Doesn’t really benefit me in any way
Sacco ni ya kusave pesa kidogo kidogo ambayo unaogopa kukunywa na kisha unakopa loans kidogo kidogo za kumaintain na kurenovate your investments. Otherwise major loans tunachukua bank. Sacco ni za backward countries kama Kenya, India, Brazil, Argentina, Mexico, Uganda, Burkina Faso, Morocco, Haiti etc
Maneno ya loans/credit apana ambua…I adopted a mantra given by our SAGE @sani ‘Apana kopa,apana kopesha,kula sumni weka sumni’.
Aptly put
Am a member of two Sacco’s and in both I have access to 300% loan against my shares. If you have shares worth 10,000 you get a loan limit of 30,000.
It does, say you have a million, you borrow 950k ufanye kitu unafanya, ulipe pole pole umalize deni still utakuwa na your 1 million, suppose sasa you spend your one million unadhani ku save tena itakuwa rahisi. Kwa ufupi SACCO inakusaidia kutumia pesa yako pole pole…
Uo
Uongo, you can get some at 12% reducing balance.
So if you have 400k,you can easily get 1.2m and once done with the payment, you still have your 400k or more kama umekuwa ukilipa loan na deposit Zako.
I’m not sure if banks offer reducing balance mode of payment.
And you still earn interest on your savings , therefore reducing your net cost of borrowing
Won’t even argue. Ndo nifike mahali Niko sai it’s been an uphill task. Sante sana mzee
You can’t compare a sacco to a bank .
Benefits of saccos ;
- Back office loans are offered at a reducing balance ,very beneficial to a common employee
- It’s an avenue for saving. A watchman earning less than 30k per month can’t save cash in a bank
- Flexible for money laundering especially viongoss , you inject shares worth millions pole pole bila kuulizwa maswali kama banks
- Incase of demise some saccos refund twice your shares to your family. I know some which do that .
- The shares earn your good dividends each year.
- The more you invest in your sacco the more VIP you are treated compared to fuckin banks which before you become vip you need serious billions .
NB , invest in 3tier saccos and above with capital of over 5 billions for security.
Saccos help people save money for those without financial discipline
what if a small sacco collapses are your savings insured?
They don’t insure your shares , that’s why before joining a sacco you have to seek those with serious capital. The regulator SASRA is bought by the boards of these saccos to turn a blind eye on things which risk members deposits but nowadays saccos fear collapsing because they will loose all their members and tedious Court battles .
A small sacco can be a profitable bet provided it’s doesn’t get mismanaged. They offer competent dividends to capture a part of the market share . Business is all about risks chief .