Frequently Asked Questions
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How can I Become a Lainisha Sacco Member?
Sacco Membership is by Registration. Simply open an Account with us to start Saving and enjoy other benefits!
Note:For Registration, Applicant must provide their Original National ID Card for identification.
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What are the benefits of Being a Lainisha Sacco Member?
Once a member you will enjoy;
- Opportunity to build Savings
- Access to Low Interest Loans.
- Yearly Interests.
- Efficient Customer Service.
- Timely Support.
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When does a member become eligible for a loan?
A member becomes eligible after a minimum Membership Period of three months and on fulfilling all requirements of a specific Loan product.
Members who transfer their deposits from another Sacco are exempted from the waiting period. -
How is a loan application made?
A loan Application can either be done in writing on prescribed forms or via Our Member Portal Accessible from our Website. Note:
Forms must be fully filled. The applicant must attach all relevant documents.
Alteration will not be allowed. -
Does interest charged by the Sacco fluctuate during the term of the loan?
No. Any amendments on interest will affect new applications only.
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Who decides on what interest to charge?
Interests on loans are reviewed from time to time by the BOD on recommendation of Management
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What are the acceptable Securities for a loan?
Guarantors, Deposits in the SACCO, Land, Buildings or Vehicles.
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Who is eligible to guarantee me on my Loan?
Any active member in good standing is allowed to be a guarantor provided that one has not over guaranteed.
A guarantor must be willing and able to repay the loan guaranteed if the loanee fails to pay. -
What are the available disbursement channels?
Members can Access their Lainisha Account in the below convinient manners;
Cash withdrawal from the Tellers, M-Lainisha mobile Banking, Agency Banking Outlets, Internet Banking and ATM.