Frequently Asked Questions
Have the same question? Well, Worry no more, Find Answers Here..
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.
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.
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.
Who decides on what interest to charge?
Interests on loans are reviewed from time to time by the BOD on recommendation of Management
What are the acceptable Securities for a loan?
Guarantors, Deposits in the SACCO, Land, Buildings or Vehicles.
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.