Frequently Asked Questions

Becoming a member of Koilege Sacco is simple! Just download our mobile app, fill out the membership application form, and submit the required documents. Our friendly staff will guide you through the process.

Koilege Sacco offers a variety of accounts to suit your needs, including savings accounts, fixed deposit accounts, and investment accounts. Each account is designed to help you achieve your financial goals efficiently.

Applying for a loan with Koilege Sacco is easy and convenient. Simply log in to our mobile app to fill out the loan application form. Our loan officers will assess your eligibility and guide you through the process.

Our interest rates are competitive and tailored to benefit our members. The rates may vary depending on the type of account or loan product you choose. Please contact our customer service team for the latest rates.

With our mobile app, you can conveniently access your Koilege Sacco account anytime, anywhere. Simply download the app from the App Store or Google Play Store, log in with your credentials, and enjoy easy access to your account details, transactions, and more.

The share capital account is where records of transactions of Share capital (non-withdrawable deposits) purchased is kept. The minimum share capital is Ksh 5000 (10 shares of 500 each). After registration, any savings you deposit to the Sacco is transferred to the share capital account until you attain the minimum shares. If you purchase share capital from other members of Koilege Sacco, it will also be captured in the share capital account.

The savings accounts is where all the records of transactions of contributions (withdrawable deposits) are kept. Any savings you deposit to Koilege Sacco after paying registration fee and minimum share capital is recorded here.

The transactional account is your mobile wallet where funds that can be transferred to your mobile wallet e.g Mpesa, Paypal, or bank account is Kept. For example, if you borrow a loan and it is approved, it will be put in your transaction account. From there you can transfer to Mpesa, bank or even use the funds to buy goods and services.

Yes, if you do not have any outstanding loan or guarantee a loan that it is still uncleared, you only need to write an email or send a letter to notify the Sacco. The notice expires after 60 days and your refund is made. Otherwise, you need to clear your loan, and find guarantors to replace you in all the uncleared loans you guaranteed before exit.

No, we only have the headquarters, since we are a digital service, we are available online 24/7. There has never been any need for opening offices since our services are automated. However, if there will be the need, then we shall through the guidance of the ministry of cooperatives.

No, the loans are insured against death and permanent disability. However, proof of the same has to be presented.

Yes, you can.

  1. Go to Mpesa,
  2. Lipa na Mpesa
  3. Enter business number 4119403
  4. For account, enter the number of the member you want to pay followed by S e.g 001S

To reset your password, tap on Forgot Password button, you will be sent a verification code to your phone number. Use the code to reset the password or call the offices for assistance.

Yes, you can get a loan.

Each Koilege Sacco member has been issued a referral code which enables them to be agent at will. The member is required to share their code with people interested to Join the Sacco during recruitment. Potential members are required to use the member’s referral code when registering.

To Know your code, dial *483*060# select my Account, Invite Friend or go to the Mobile app tap on the Triple Bar(Remember to insert the Triple bar Icon here) to open the side bar then tap Invite Friend.

You earn:

  1. Ksh 100 instantly when a person you refer pays the registration fee.
  2. Additional Ksh 200 when a member fully pays the minimum Share capital

Download our mobile app

With our user-friendly app, you can seamlessly access a range of services, including hassle-free savings accounts and convenient loans – all from the palm of your hand.

Join the growing community of smart savers and borrowers who trust Koilege Sacco to help them achieve their financial goals. Download our app today and embark on a journey towards financial empowerment!

Secure your financial future: Join Koilege Sacco Today!