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General Questions

  • What are deposits?
    1. What is share capital?

    Earns dividends as declared by the Annual Delegate Meeting

    1. What is Burial Benevolent Fund (BBF) Fund?

    This is a fund which insures members’ loans and savings in count of death. In the event of death of a member, the deposits are paid twice to the beneficiary, all loans are cleared and burial expenses paid to the tune of Ksh.30, 000/= for a member, Ksh.15, 000/= for a declared

    1. Can I continue with my membership after retirement?

    Yes, by placing a standing order for both deposits and loan and you will enjoy various segmented products and services.

    1. Can I pay extra amounts outside payroll?

    Yes, you can by placing a standing order or direct payments through FOSA facility.

    1. Can I transfer my deposits from another Sacco to Asili Sacco?

    Yes, you can transfer your deposits from another Sacco so long as the cheque is written in the name of Asili Sacco and will be treated as an existing member upon joining the Sacco and will be immediately be eligible for a loan.

    spouse (only one).

    1. How can I withdraw from the Sacco?
    1. Who owns Asili Sacco?

    Asili Sacco is owned by members.

    1. What is the assurance of Sacco’s going concern?

    10.Can a member capitalize interest/ dividends to shares or deposits?

    Yes, after completion of dividend capitalization form.

    11.Can I qualify for dividend / interest if my loan is not running?

    No, all dividend /interest of loan defaulters will be utilized on defaulted loans and the member gets a receipt.

    1. Credit questions
    2. When can I qualify for a loan?

    After three (3) months of saving with the Sacco, the member is entitled to a loan.


    1. What security is needed for loan qualification?
    1. How long will my loan application take before disbursement?
    1. How are loans disbursements?

    Through Fosa Ordinary Savings Account

    1. How do I receive my loan?

    Only after you have registered with the above facilities

    1. Can I offset deposits against my loan?

    A member can offset his deposits against loan if he/she is ceasing to be a member but not when active. The member must pay off the loan balance immediately if any

    1. Who is eligible to access Asili Sacco credit facilities?

    Members admitted in accordance with the membership policy.

    1. Does interest charged by the Sacco fluctuate during the term of the loan?

    No, it doesn’t. Any amendments on interest will affect new loan applications only.

    1. Can a member clear a loan in full before repayment is over?

    Yes, that is allowed

    1. Can a member alter loan repayment period during the repayment of the loan?

    On loanees request, the repayment period may be altered at any stage of repaying the loan, provided that the request is within the limits of a particular loan term and is endorsed by all guarantors if extension.

    1. Which background checks should a member do before guaranteeing any other member?
    1. Can a member qualify for another loan before clearance of existing loan?

    Yes, as long as the society or external party clears for him/her the existing loan at a fee and is recovered upfront.

    1. Can a member be assisted before his normal loan matures in case of an emergency?

    Yes, a member can discount his loan before maturity up to the maximum of a half the loan at a fee and the remaining half will be disbursed when the loan matures.

    c.Fosa questions

    1. What are the requirements of opening Fosa Ordinary Savings Account?
    1. What are benefits of operating Fosa Ordinary Savings Account?
    1. How can I acquire a Sacco link ATM Card?

    Download application form from the web, complete and forward to the office. Sacco link ATM card is available to all members with Fosa accounts and at an affordable charge.

    1. What should I do if the Sacco link ATM card or pin is lost?

    Report to the head office for card deactivation and police, and apply for replacement