List Of Tembo Sacco Products And Contacts

In this article, we will look at various Tembo Sacco products. Tembo Sacco is a deposit-taking Sacco that’s been around since 1972.

The Sacco was initially formed to serve employees of East Africa Breweries Limited. Membership is now open to all industries. The Sacco has enjoyed great financial development since its inception. It currently has over $3.61 billion in assets and serves over 4,000 members.

List Of Tembo Sacco Products

a) BOSA Products

Back Office Savings Activities (BOSA) allow members to contribute to savings products while also having access to credit facilities.

Share Capital

It represents SACCO’s membership ownership. This product is non-refundable, although it can be transferred to another Sacco member if one leaves.

Ksh.20,000 is the minimum share capital per member. (1000 ksh.20 shares). Tembo Sacco offers attractive returns on this commodity, with an average rate of 20%.

Sacco Deposits Contribution

Deposits indicate money that a member can get back if they quit the Sacco and give enough notice.

The monthly minimum contribution is Ksh.1000. They serve as multipliers when a member applies for a loan and can be used to guarantee loans for other members. Deposits are refundable to members who give 60 days’ notice and have not been used to guarantee a loan.

Tembo Sacco deposits can earn up to 11.5% per year in interest.

BOSA Special Savings

This product is intended for long-term goals such as vacations, construction, school tuition, weddings, and special projects. Its monthly minimum contribution is Ksh.500.

It pays 10% interest semiannually, in July and January. BOSA A special withdrawal can be made once a year with 30 days’ notice.

Benevolent Fund

This is a member insurance policy that protects the member and close family members against death. To access this product, one must be a member with the required Share Capital of Ksh. 20,000.
Junior Savings
It is a savings account available for parents or guardians to save for their children. The money can be used in the future to pay bills for the children including school fees.
Photo/Courtesy

BOSA Credit Products

Loan Products

 a) Long-term Loans

Jumbo Plus Loan

  • Only available to employees who are on a permanent basis and whose salaries are routed through Tembo Sacco
  • Savings are multiplied by 5 times.
  • The interest rate is 1.25% per month.
  • 84-month (7-year) repayment period
  • Top-ups are permitted.
  • It must be completely guaranteed.