TO: BALOZI SACCO MEMBERS

DATE: 24^th NOVEMBER 2025

SUBJECT: REVIEW ON LOAN PRODUCTS

Balozi SACCO Ltd is committed to continuously improving its credit facilities to support its members’ financial needs. The SACCO is pleased to announce the following changes:

1. Use of Money Market Fund (MMF) as security/guarantor for loan

   How will it work?

• MMF will secure/guarantee loan(s) up to 80% of its value e.g. if the value of MMF is Ksh 1M, then the guarantorship will be upto (Ksh 1 M*80%) Ksh 800,000 only.
• A certified MMF statement will be required to confirm the amount qualifying as security.
• Confirmation from MMF company on the amount charged to the SACCO will be required.

   Note: Loan will be processed on the current terms and conditions. The MMF unit will only be used as a

   security/guarantor for the loan until the loan is fully paid.

2. Default loan

   Guarantors have a choice to pay defaulter’s loans through the default loan product or the amount to be

   deducted from their deposits.

   Features of the product:

• Repayment period has been extended from 48 months to 96 months
• The loan is interest free
• Guarantor can pay the loan through allotment or standing order.
• The amount allotted towards repaying defaulter’s loan doesn’t affect guarantor’s eligibility.

Illustration: if the guarantor’s 2/3rd is Ksh 15,000, and another additional allotment of Ksh 5,000 is done towards the default loan repayment, this additional (Ksh 5,000) will not reduce the 2/3rd hence the loan eligibility will still be based on the Ksh 15,000 but not (Ksh 15,000-5,000) Ksh 10,000.  

• Guarantor must specify the preferred repayment period in writing.

3. Loan restructure

The SACCO has introduced loan restructure to allow for amalgamation of existing loans in arrears and start repaying them with new terms and conditions.

     Features:

• Repayment period: 120 months.
• Take-Home (net amount) is zero.
• Interest rate is 14.5% per annum on reducing balance

Thank you for your continued trust and cooperation.

Regards,

Jorim Oyago

Chief Executive Officer

• Product Name: Self guaranteed loan. 
• Interest rate: 0.958% per month on reducing balance.
• Maximum amount: 90% of member’s free deposit.
• Repayment period: 36 months.
• Eligibility: two thirds of the income rules apply.

• The loan repayment period will be 10 years.
• The interest rate is 1.125% per month on reducing balance.
• Agricultural land will not be accepted as a security for loans.
• Commercial land will be accepted as security for up to 80% of its mortgage/forced value.
• The loan can be used for amalgamating other loans.
• Eligibility is upto a maximum of five times (X 5) of a member’s deposits.

• The repayment period will be 10 years (120 months). 
• The interest rate is 1.29% per month on reducing balance.
• Eligibility is three times (X 3) of a member’s deposits subject to two third income rules
• Can be bridged.
• Can be used for amalgamating other loans.

• Year 1 - KES. 17,000
• Year 2 - KES. 17,000
• Year 3 - KES. 16,000

TO: ALL BALOZI SACCO MEMBERS

DATE: DECEMBER 16, 2024

SUBJECT: END YEAR BREAK

Dear Member,

We wish to inform you that the SACCO will close its offices for Christmas holidays on Friday December 20, 2024, at 5.00pm and resumes its operations on Thursday, 2nd January 2025 at 8.00 a.m. During this period, members with issues concerning m-cash may contact the SACCO on working days between 8.00am-5.00pm for assistance through mobile number 0795074692.

The Board and staff of the SACCO sincerely thank you for your continued support during the year 2024 and look forward to continuing serving you in the year 2025.

We wish you a Merry Christmas and a prosperous new year 2025.

Thank you.

Jorim Oyago.
Chief Executive Officer.

Balozi SACCO Members
The Sacco wishes to update you that it recently concluded the review of its policies and implemented some of the following changes:

1. Loan Guarantorship: The spouses are not allowed to guarantee each other using their deposits in the
Sacco.

2. Benevolent Fund: The benevolent fund is now treated as a sinking fund and is non-refundable. This
means that a member exiting/withdrawing from the Sacco will not be refunded his/her benevolent
contribution.
3. Quick Pesa: This loan product has been discontinued and will not be available any more to members.

4. Okoa Advance Loan: The maximum limit for Okoa advance loan is Ksh 500,000 or member’s total
deposits whichever is lower subject to other terms and conditions for the product.

Thank you.

We look forward to serving you better.

Yours faithfully,

JORIM OYAGO
CHIEF EXECUTIVE OFFICER

We are pleased to inform our members that application for dividend advance will be open from 1st October 2024 to 31st December 2024.

Eligibility:
Members can apply for up to a maximum of 30% of the previous year’s (2023) dividends.
Members with arrears are not eligible for the advance unless the amount applied for can fully cover the outstanding arrears.

Interest rate:
Remains at 10% deductible from the applied amount.

Repayment:
The amount advanced will be recovered from the final payment for interest on deposit and dividend for the year 2024.

Mode of Application:
You will be able to access part of the Interest & Dividends for the year 2023 via our USSD mobile platform by dialing 882# and follow the prompts or through our Xmobi Customer app.
The maximum amount payable via M-Pesa is 250,000 per transaction per day. Any amount beyond Ksh 250,000 can be applied in several installments or through an application form to be forwarded to us for processing.

Note: No insurance fees will be charged on the advance issued.

We encourage all eligible members to take advantage of this offer within the specified period.

For further inquiries, please contact the loans office.      

Date: August 26, 2024
REF: BALOZI SACCO PRODUCT REFORMS
Dear Member
The Board of Directors of the SACCO is pleased to announce several updates to our loan products, tailored to better meet the needs of our valued members. The following changes will take effect from September 1, 2024

1. Insurance Premium Financing Loan

• We have introduced a new product to assist members in paying insurance premiums for their vehicles.
• The maximum amount is determined by the lesser of the repayment ability or the insurance premium.
• The repayment period is 12 months.
• The interest rate is 1% per month on reducing balance.
• Eligibility is calculated based on half of the net salary.
• Repayments can be made via checkoff or standing order.
• The loan can be bridged.
• Loan disbursements are made directly to the insurance company.
• The loan is exempt from the deposit multiplier.

2. Okoa loan

• The maximum amount has been increased from Ksh 350,000 to Ksh. 500,000.
• The repayment period has been extended from 12 months to 24 months.
• The interest rate is 1.2% per month on reducing balance.
• Eligibility is calculated based on half of the net salary.
• The loan can be bridged.
• The loan is exempted from the deposit multiplier.

3. Car loan

• The maximum amount has been increased from Ksh 3,000,000 to Ksh 3,600,000.
• The repayment period has been increased from 36 months to 48 months.
• The interest rate is 1.2% per month on reducing balance.
• Loan disbursements are made directly to the car vendor.
• The loan is exempted from the deposit multiplier.

4. Ekeza Savings Product
The Ekeza savings product is a flexible, withdrawable savings designed for both individuals and chamas (both registered and unregistered savings group).

• The interest rate on this product has been increased by 1%, bringing the maximum annual interest earned on savings to 12%

NOTE: All other terms and conditions for savings and loan applications remain unchanged.

We trust these reforms will enhance your experience with our services. Should you require any clarification, please do not hesitate to contact us.

Yours faithfully,

Jorim Oyago
Chief Executive Officer
BALOZI SACCO LTD

Sale of plot at Isinya-Pipeline road for Ksh. 800,000/-. Interested buyers to contact the seller (Ernest) on 0716-653182

TO: ALL BALOZI SACCO MEMBERS
DATE: 16TH JANUARY 2024
SUBJECT: PLOUGH BACK OF DIVIDEND/INTEREST

Greetings and Happy New Year!

The Board of Directors of the SACCO is happy to inform you that the Annual General Meeting (AGM) for the SACCO is coming up soon. We therefore request members willing to plough back (re-invest)
part/whole of their dividend/interest for the year 2023 to advise the office. Kindly indicate the percentage or the amount you intend to be ploughed back to your savings or to pay off your loan.
The re-invested amount qualifies for loan consideration immediately while the amount directed towards loan reduces loan interest.

The SACCO appeals to members who might have changed/not provided their bank details for receiving dividend/interest to furnish the office with their new bank details (Account name,
bank name, account number and branch). Kindly ignore this in case your accounts details have not changed.

NOTE: The SACCO shall only make the above payment after recovering all the payment arrears in deposits, benevolent, share capital and loans.
The instructions to reach the office through This email address is being protected from spambots. You need JavaScript enabled to view it. by the close of business of Friday 26th January 2024.

Yours Faithfully,

Jorim Oyago
Chief Executive Officer

TO:- ALL BALOZI SACCO MEMBERS
SUBJECT:-  SAVINGS PRODUCT
DATE:- AUGUST 10, 2023

The Sacco is pleased to introduce a new savings product called Junior Savings with the following features:

• The minimum saving that will earn interest is Ksh. 5,000
• The savings to earn interest at 5% per annum
• Maximum allowable withdrawal from the saving is once in 12 months
• The minimum monthly contribution at any given time is Ksh. 200
• No interest earned if withdrawal is done before twelve months
• The amount for opening the account is Ksh, 1,000 non refundable

Thank you,

Jorim Oyago
CHIEF EXECUTIVE OFFICER.

TO:-ALL BALOZI SACCO MEMBERS

DATE:- JUNE 27, 2023

SUBJECT:- CLOSURE OF OFFICE

We wish to inform you that we will be closing our offices on June 28,2023 and we shall resume our operations on June 29,2023 at 8.00 A.M.

We wish you a happy Eid-Ul-Adha.

Thank you for your continuous support.

Yours faithfully,

Jorim Oyago.

Chief Executive Officer.

TO: BALOZI SACCO MEMBERS

We wish to inform you that due to the implementation of Data Protection Act of 2019, it is now a requirement that no disclosure of any information relating to clients should be done without their consent. The Sacco must comply with the provision of the Act and has therefore made several changes in the terms and conditions for its operations. Some of the changes include:

1. Introduction of indemnity form: The purpose of this form is to get consent from members to allow the Sacco to receive, process and keep their data for future referencing. Members are therefore required to fill, sign and submit the form by 3rd April 2023. Members who will not have submitted the form by the above deadline will be denied services until they do so.

2. Membership, loans and ekeza fund application forms: The Sacco has revised these forms to comply with the provisions of the Act. The revised forms are on the Sacco’s website. The Sacco shall discontinue the use of the old applications forms after 3rd April 2023.

The duly completed indemnity forms can be submitted to the Sacco via email address This email address is being protected from spambots. You need JavaScript enabled to view it. or dropped at the Sacco reception desk during the working hours.

Yours Faithfully,

Jorim Oyago
Chief Executive Officer

Click here to download the form: Indemnity Form

TO: ALL BALOZI SACCO MEMBERS

DATE: FEBRUARY 28th 2023

We wish to inform you that we will be closing our offices on Friday 3rd March 2023 at 12.00 noon, and we shall resume our operations on 6th March 2023 at 8.00 A.M.
We sincerely apologize for any inconvenience caused.
Thank you for continuous support.

Yours faithfully,

Jorim Oyago,
Chief Executive Officer.

TO: BALOZI SACCO MEMBERS

Further to the 49th AGM held on Friday 10th February 2023, kindly take note of the following resolutions that were passed by members:
1. Members approved an increment of share capital by Ksh. 15,000 per member within the next 3 years (Ksh. 5,000/- per year from 2023 to 2025). Members are encouraged to save more than the minimum amount approved by the AGM towards their share capital in order to enjoy high returns.
2. Members approved distribution of surplus as presented in the financial statements (10.1% interest on deposits and 20% dividend on share capital)
3. Members approved supplementary budget for year 2023 and budget for 2024
4. Members re-appointed Nelson and Francis LLP as statutory auditors for the year 2023
5. Members approved borrowing power to remain at Ksh. 1.5B and authorized the board to charge the Sacco’s asset where applicable.
6. Members approved dissolution of Balozi Investment Company and formation of a new Investment Company.
Note:
1. Net dividends / Interest for the year 2022 has been disbursed to members via their respective bank accounts maintained by the SACCO. Please let us know via email (This email address is being protected from spambots. You need JavaScript enabled to view it.) if you have not received the dividends and interest on deposits.
2. Plough backs (withheld interest/dividends) have been posted in the members’ personal accounts (MPA) with the Sacco. We encourage members to login to their Balozi member accounts to confirm the status.
3. Dividend/interest statements are available and can be accessed via X-mobi Customer app and members portal through:https://portal.balozisacco.com/SaccoSystem/Login/member
For any queries, kindly contact us through telephone no. +254(020)2211600 or email This email address is being protected from spambots. You need JavaScript enabled to view it..

Yours Faithfully,

Jorim Oyago
Chief Executive Officer