Dear Member,

We are pleased to announce that MJisort loan is now available. Mjisort loan is a mobile credit product that allows you to borrow and repay a loan through the mobile phone.   FEATURES OF MJISORT LOAN 

To qualify one must have been an active member for at least 1 (one) month A member qualifies for mobile loan of up to 80% of his/her deposits subject to a maximum of Kes 50,000. However, to qualify for an amount higher than 20,000, a member should have free deposits equivalent to the amount applied for. In case of default in repayment, interest will be charged at 7% on the total outstanding balance every 30th day. The loan will attract 10% penalty on the 90th day. The Sacco will proceed to recover total amount in default plus penalty, from member’s share deposit on the 91st day. A defaulter is disqualified from taking another MJisort loan for one month. He/she must also have paid an equal amount of what the Sacco will have recovered from his/her share deposits on default. Repayment period is 30 days. A member can only have one running Mjisort loan at any given time. A member borrowing this loan should not have arrears in other existing BOSA loans.  

HOW TO ACCESS MJISORT MOBILE LOAN

USSD CODE OPTION Dial *670# on your mobile phone and select option 4 Mjisort loan follow the instructions/prompts. When successful, the loan will be credited to your Mpesa account. MJISORT APP OPTION Search Mjisort App on Play Store Open the App and under the loan options, select loans options. Follow the instructions/prompts. When successful, the loan will be credited to your Mpesa Account.  

REPAYMENT OPTIONS

Repayment of the Mjisort loan can be done on either USSD, Mjisort App or the Sacco Paybill 194740. To access the services, you must have filled and submitted the Mobile Banking Application Form  as per the circular sent on 1st Feb 2023. If you have not, download the form below, fill and submit the form to our office for account activation.

We hope you will be pleased with this new service.

For more information, do not hesitate to contact the office.

Thank you.

Philip Muchiri

Hon. Secretary