Digital Sacco

Below is a brief about Digital Sacco also known as Digital Media Sacco Society Ltd.

We are an online SACCO whose mode of operations are based on a mobile platform This is to encourage inclusivity. We have been in operation from Oct 2015, under the regulation of the Ministry of Industry, Trade and Cooperative with Registration Number CS/18119 and Also regulated by SACCO SOCIETIES REGULATORY AUTHORITY (SASRA - a government authorized body to manage Saccos) currently as a Non-Withdrawal Deposit Taking Sacco.


We offer to our members a platform to do their savings and also issue loans depending on their savings through their mobile phones rather than visiting an office. By dialing our USSD *847# they are able to access all our services from account opening (Their phone number becomes account number) Saving and borrow, (guarantor ship if need be) and repay loans, at their comfort regardless of the time or geographical location.


Our M-pesa Pay Bill is 542431

Personal loans:
The following will apply to our personal loans

1. The minimum loan amount is KShs 500.00

2. The maximum loan amount will be determined available savings in members’ account.

3. Interest rate per annum is 12%

4. Minimum and maximum repayment period is 2months (61days) and 48 months respectively depending on the loan type.

5. The total cost of a loan will include;

a) Loan processing fee at 2.5% of the loan amount borrowed

b) Interest fee per month

Example

Loan amount borrowed Ksh 1,000.

Processing fee is Kshs 1,000*2.5% = Kshs 25.00

Interest Fee charged is Kshs 1,000*1% = Kshs 10.00

Total Loan cost is Kshs 25.00 + Kshs 10.00 = Kshs 35.00

Total repayable after 30 days Is Kshs 1,000 + Ksh 35.00 = Kshs 1,035.



Benefits of Joining Digital Sacco include and are not limited to

1. Paperless processes; account opening, saving, borrowing and loan repayment (PAPERLESS)
2. 24/7 availability. You can save and borrow at any time of the day from wherever you are (ANYTIME, ANYWHERE)
3. Accessible: Easy to operate from saving to loan application & guaranteeing to process although the phone (LOAN GUARANTEE ON PHONE)
4. Fast: 10 SECONDS DISBURSEMENT time frame.
5. Flexible: Members allowed to contribute towards saving and loan repayment in instalments & also ability to save or pay loan for another member
6. Cheap Loans: Low interest rates of between 1-5% per month reducing balance
7. Loan Variety: Diverse loan products to choose from.
8. Dividends: Earning dividends at end of ever profitable financial year
9. Open to all: Digital Sacco is open to all Kenyans (inclusive)regardless of their economic background: All they need is to be 18yrs and above, have a valid ID and a registered line with MPESA
How To Register/become a member
On your phone, Dial *847#
Select language
Enter your ID no.
Enter your full name
Enter your postal address/Email address
Enter your county
Enter pledge: how much you will be saving into your account per month
Agree to terms and condition


A member receives an SMS with One Time Pin (OTP) to enable them to get into their account and change the PIN .


Account activation

After opening an account (above process), a member must pay Ksh. 500/- membership fee which caters for 200 registration fee & purchase of 15 shares @20/-fee for their account to be activated to enable the member to start saving and access loans.


All Deposits ie membership, Savings, loan repayments are made thro’ M-pesa Pay bill 542431. With the M-Pesa Mini App, the whole process is now simplified



OUR CONTACTS



Digital Media Sacco Society Ltd

Physical Address Red Commercial Complex-2nd flr - Mombasa Rd, Nairobi, Kenya

Tel: + 254 703 012 200 / 0110934043

Email: [email protected]; Website:: www.digitalsacco.com