Frequently Asked Questions

Registration fee of Ksh3500/= and 1,100 shares worth Ksh 20 each

Registration fee of Ksh3500/= and 1,100 shares worth Ksh 20 each

Has to make regular deposits for at least three months

Give 3 months written notice on the intention to terminate membership.

Fill the necessary loan application form
Eligible guarantors who must be members of  Masterways Sacco Limited

By joining the Sacco and making savings, one can borrow up to three or Four times a member’s savings. This will benefit a member to use other people`s money to grow his wealth. No ledger fees to operate an account with Sacco. Encourages a saving culture for members by requiring monthly remittances.

Represents a portion of equity in the Sacco
Shares are not eligible for consideration for loan amount one can qualify
Cannot be withdrawn but are transferable
Minimum shares are 1100 at Ksh 20 or as may be determined from time to time
Every member is required to make regular monthly savings with a minimum of Ksh 3000 P.m.
Deposits can be used to determine eligibility of loan
Partial withdrawal is not allowed.

M-pesa using pay Bill no
Deposit cash/cheque to Sacco account
Standing orders
Direct Debits

 Benevolent fund is a welfare fund established to assist members in case of death of their spouses’ children and biological parents and members dependents incase of death of spouse. The fund covers one spouse and four children per year. Upon death, the following is paid to the member or his dependents.