Register, ask, and answer questions to earn more points and privileges. Some features are disabled for users with few points.
Here is a comparison between Sacco and Bank loans in Kenya to help you make a decision on which one you should choose.Sacco vs Banks Loans in KenyaRepayment PeriodSacco: They have a short repayment periodBank: They Have a long Repayment periodSecurity Sacco: You need guarantors or be a member with shares to get a loanBank: No guarantors are required. Only your PayslipAmount GivenSacco: They give low amounts unless you have high savings.Bank: High amount given to salaried people and businesses with regular deposits.Interest RateSacco: Have Low-Interest RatesBank: Have high-interest rates.Banks are therefore ideal for established businesses and salaried people and loans are ideal for both employed and unemployed people with a saving culture or shares.
Qualities of reliable accounting information are;Understandability - It must be well understood by the parties for which it was prepared for.Relevance - The accounting information should be able to influence the important decisions in the company. It should be verifiable, neutral and truthfulReliability - The accounting information should have differing methods or ways of doing it and yet arrive at the same or similar conclusions.Comparability - The accounting information should be able to compare information from different organization or of the same organization at differing periods.Timely - It must be presented to the party in need at the time of the need.
Below are some of the best Saccos for teachers in Kenya. They have been arranged according to popularity. It is advisable to select a sacco that is close to your region to minimize on transport cost when following up on complaints.Best Saccos for TeachersMwalimu National Sacco (mot recommend)Tower Sacco LtdImarisha Sacco Society LtdNewfortis Savings and credit Co-operative societyTrans Nation Sacco LimitedOllin Sacco LimitedMentor Sacco Society LimitedIG (Invest and Grow) SaccoWinas Sacco
To send money from Mpesa to Waumini Sacco; Go to Safaricom then Mpesa, Select Lipa na MpesaSelect Paybill and click the Business numberEnter Waumini Sacco Paybill number 700100 as the Business number, Click the account number and enter your membership number followed by WAU, Enter the amount you want to send, Enter your Mpesa pin and complete the transaction.
To send money from Mpesa to Unaitas Sacco account;Go to Safaricom then Mpesa, Select Lipa na MpesaSelect Paybill and click Business numberEnter Unaitas Sacco Paybill number 544700 as Business number, Enter your Unaitas Account number as account number, Enter the amount you want to send, Enter Mpesa pin and complete the transaction.