Frequently asked questions
The questions members and joiners ask most. Anything marked To be confirmed is being checked against the Sacco's signed schedules.
Who can join K.Nabot SACCO?
Any Kenyan aged 18 or older who runs a small or micro business — for example a mama mboga stall, a boda boda, a restaurant, a shop or a farm. Registered groups such as self-help groups, women's groups, youth groups, CBOs and institutions can also join. This shared background is called the common bond, and it is what makes K.Nabot a co-operative rather than a bank.
How much does it cost to join? Figures to be confirmed
Joining has three parts. A one-off registration fee of Ksh 400, a Ksh 100 passbook fee, and founder shares: 120 shares at Ksh 100 each, a total of Ksh 12,000 paid within 12 months of joining. Founder shares make you a part-owner of the Sacco — they are not a fee. All figures are being confirmed against the current schedule, so check with your field officer before paying.
What do I pay each week and month as a member? Figures to be confirmed
Three regular payments keep your membership active: save at least Ksh 350 every Monday and Wednesday; pay Ksh 250 towards your founder shares every Friday until they are complete; and pay Ksh 500 to the welfare fund by the 5th of each month. The welfare fund supports members with hospital bills, weddings and similar events.
How do I send money to the Sacco? Figures to be confirmed
Pay through Lipa na M-Pesa, Paybill 309945. For the account number, use ID number#First name (e.g. 444445#Joseph). Do not send money to a personal phone number — K.Nabot SACCO staff will never ask you to. Keep the M-Pesa message as your receipt.
When can I apply for my first loan? Figures to be confirmed
After you have saved every week for 4 consecutive months. Saving first shows the Sacco that you can repay, and your savings record is what qualifies you — not payslips or collateral. The longer and more regular your record, the more you can borrow.
Can I withdraw part of my savings? Figures to be confirmed
No. K.Nabot SACCO does not allow partial withdrawal of savings. Savings stay in the Sacco and back your loans until you withdraw from membership completely, which requires 90 working days' written notice.
What happens to my founder shares if I leave? Figures to be confirmed
Founder shares are not refunded in cash. When you leave, they are sold to another member, less a transfer fee of Ksh 2,500. Your savings are returned separately after the notice period and once any loans are cleared.
What happens if I stop saving? Figures to be confirmed
Membership ceases if you miss your savings or welfare payments for 3 months in a row. If you are going through a difficult period, talk to your field officer early — it is easier to agree a plan before the three months pass.
How do I talk to someone at the Sacco?
Call or WhatsApp 0789 287 277, email knabotsaccoltd@gmail.com, or visit your nearest office — the Offices page lists every town we serve. For joining, the fastest route is the short form on the How to Join page: a field officer calls you back.
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