• Medical practitioners, dentists and pharmacists qualify for principal membership into the Sacco
    • Principal members can introduce their spouses, children and employees and companies/corporate entities.
    • Medical students also qualify for associate membership
    • Fill in the membership application form that can be downloaded from our website or obtained from our offices stated below (17).
    • Photocopy of your National Identity Card or Passport
    • Photocopy of your KRA PIN Certificate
    • Photocopy of either graduate Certificate, relevant Board Licence , Retention Certificate
    • Two passport size photographs
    • Kes. 2,500.00 being membership fee for Kes. 500.00 and a minimum of 100 shares at Kes. 20.00 per share
    • Attractive dividends on shares and interest on deposits
    • A wide range of loan products at competitive interest rates
    • Saving enables one to put aside reserves for his/her future and qualify for bigger loan
    • A variety of Insurance products and services
    • Fixed deposits with very attractive returns
    • Withdrawable savings
    • A beneficiary is the person nominated by a member to receive the proceeds of any payable funds upon the death of the member
    • All members are required to provide details of beneficiary or beneficiaries upon registration as members.
    • One can formally change and/or update his/her beneficiary information as and when need be
    • This is the money invested in the Sacco by the members/shareholders. It is a long term source of finance and represents a unit of ownership. All SACCO’s are required by law to have minimum share capital. In KMA Sacco the minimum is Ksh.30,000
    • Upon withdrawal from membership of the SACCO, the share capital is non-refundable. It may be transferred to another member of KMA SACCO.
    • Members are not permitted to borrow against share capital
    • These are monthly savings made to the Sacco by the members and are non- withdrawable except upon complete termination of membership or upon death of the member. The mandatory Minimum Monthly contribution is Kes, 5,000.00 for principal members and Ksh1,000.00 for members by introduction.
    • Fixed deposit can earn you a good annual return while at the same time can be used as a security for loans obviating the need for guarantors
    • KMA Sacco is a predominantly doctor’s SACCO by membership and governance. This gives doctors a sense of ownership and focuses on their unique needs.

     

    • Members applying for a loan must have saved consistently for six months prior to applying for a loan
    • Dormant members and delinquent borrowers will be required to regularize their accounts and consistently meet their minimum monthly savings obligations for six months before consideration for loans except when borrowing within their savings
    • Dormant members are those members who are in arrears on their mandatory minimum monthly obligation by one or more months.
    • Delinquent borrowers are those that have defaulted on their loan repayment obligation
    • One is entitled to borrow up to three times of total deposits. The statutory maximum loan to one member as per our Bylaws should not exceed 20% of total deposits.

     

    • One can have more than one loan simultaneously provided one is able to service all the loans and qualifies as provided for in the product terms and conditions. However, the loans must be from different loan categories

     

    • There is no specific number of guarantors needed. No guarantor is required if the loan is within a member’s savings.
    • The Total sum guaranteed is equal to the loan applied for.
    • No guarantors are needed when applying for asset financing loan, equity release loan, school fees loan, elimu plus loan, insurance loan, intern loan and emergency loan.
    • Guaranteeing someone does not stop one from taking a loan. One can also guarantee more than one person provided they have sufficient uncommitted Sacco deposits to do so.

     

    • A member can transfer his/her deposits from another SACCO to KMA SACCO as long as the former SACCO draws the amount in favour of KMA SACCO LTD . A member who does so is treated as an old member even if he has just joined the Sacco that means he can apply for a loan immediately

     

    • The Sacco through Tiba Insurance Agencies (A Division of Medifinance Ltd, a holding company owned 99% by KMA SACCO) has teamed up with leading Insurance companies to provide a wide range of Insurance products: Medical Insurance, Motor Insurance, Professional Indemnity, WIBA, travel Insurance, Clinic combined insurance, Deposit for life cover, Life Assurance among others.
    • All these insurance products and services are processed at the convenience of your office.
  1. KMA SACCO is located at KMA Centre, Mara Road, Upperhill, Nairobi.

     

    KMA SACCO CAN also be reached at:

    PO Box 413-00202, Nairobis

     

    Tel: 020 2675620/0722519037

    Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

    Website : www.kmasacco.com

     

                       Kenya Medical Association SACCO

     

                       @kmasacco