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Mwalimu Sacco Rebates 2022 (Dividends Advance); Mwalimu SACCO announces shares, rebates payment details 2022

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Mwalimu Sacco Rebates 2022 (Dividends Advance); Mwalimu SACCO announces shares, rebates payment details 2022

RE: ADVANCE AGAINST EXPECTED REBATE FOR THE YEAR 2021

Following the Mwalimu Sacco Board’s resolution on 30th August 2021, the second phase of Advance is against expected.

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Interest rebates for the financial year 2021 will be rolled out from 14 January 2022.

The terms and conditions of the product will be as follows:

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1. The advance will be accessed via the Go – mobile App platform and USSD *633#
2. From 1 January 2022 to the ADM date, members will be eligible for 75% of the project at the rate of 5% on the amount accessed.
3. The computation of the advance qualified for, will be based on the member’s deposits balance as of 30 November 2021 on a month-on-month basis. The multiplying factor will be 7%.

It is important to note that 7% is just for purposes of administering the Advance product but NOT the rate of Interest rebate for the year 2021. The rate for the year 2021 will be declared in the next ADM in 2022 based on the full year’s financial performance and upon external audit.

4. Members who have defaulted on their loans’ obligations will NOT be eligible and hence do not qualify for the advance unless their accounts are regularized.

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How Mwalimu Sacco  Pays 2022 Dividends, Rebates; Check out its products and services below

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How Mwalimu Sacco  Pays 2022 Dividends, Rebates; Check out its products and services below

Mwalimu Nationa Sacco full list of products and Services

Mwalimu national sacco as the name implicates is a savings and Credit Co-operative Society duly registered and accredited to offer financial services to a designated target group in this case Kenya Teachers currently employed on permanent and pensionable terms by the Teachers Service Commission TSC Kenya.

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NATIONAL DELEGATES’ MEETING

The Mwalimu National Sacco National Delegates Meeting will be held on in February 2022.

 

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In this regard;

 

2022 Dividends looming at the rates that will be determined during ADM.

 

Things to note:

1.Terms used

Rebates

 

Benefits accrued from one’s monthly deposits or savings.

 

Dividends

Benefits accrued from share capital.

 

Sacco business period

Starts_ 1st Jan of every year

Ends _ 31st Dec of the same year

 

How to arrive at the total amount expected in one’s account.

 

For purposes of calculations, see the illustration below;

 

1.Total deposit as at 31st Dec ,2021 = ksh 100,000

 

2. Monthly deposit= ksh 5000

 

3.Capital share = ksh 20,000

 

4.Rates

 

Rebates=12%

Dividends =13%

 

Mathematics

a) 12% × 100,000 ( deposits as at 31st Dec ,2021= 12000

 

b) 13% × 20000(share capital) = 2600

 

C) Monthly deposit

Jan

12% × 5000 × 12/12= 600

 

Feb

12% × 5000 ×11/12= 550

 

March

 

12% × 5000× 10/12= 500

 

April

12% × 5000 ×9/12= 450

 

May

 

12% × 5000 ×8/12= 400

 

June

12% ×5000×7/12=350

 

July

12% × 5000× 6/12= 300

 

Aug

 

12% ×5000 ×5/12 = 250

 

Sept

 

12% × 5000 × 4/12 = 200

 

Oct

 

12% × 5000 ×3/12 =150

 

Nov

 

12% × 5000× 2/12 = 100

 

Dec

 

12% × 5000× 1/12 = 50

 

Total = 12000 + 3900+ 2600= 18500

 

Amount expected in the account

 

18500× 5% (withholding tax)= 17575

 

This 17575 is still subjected to

 

1.exercise duty

 

2.Processing fee

 

The formula above was arrived at in a bid to encourage members to start saving as early as January.

 

Members who make deposits close to the end of the year wont reap big as per their expectations.

 

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Mwalimu national sacco mobile banking Paybill; BOSA shares, FOSA savings and Business loan

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Mwalimu national sacco mobile banking Paybill; BOSA shares, FOSA savings and Business loan

GO MOBILE.
MWALIMU NATIONAL SACCO LOANS

 

This article seeks to give a detailed information about Mwalimu National SACCO, one of the inarguably largest saccos for teachers in Kenya. Find detailed information about Mwalimu National SACCO’s Pay bill numbers for BOSA, FOSA and Business Loans.

Mwalimu National SACCO New Pay Bill Numbers 2021/ 2022

Mwalimu National SACCO BOSA pay Bill Number is 572645

Mwalimu National SACCO FOSA pay Bill Number is 541900

Mwalimu National SACCO Business Loans pay Bill Number is 823256

 

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About Mwalimu National SACCO

Mwalimu national sacco is arguably one of the largest sacco in Kenya. Since its inception in 1974, the sacco has tremendously grown through mobilizing members to save and providing loans to esteemed members.

The sacco prides itself of huge membership drawn mostly from TSC Secretariat staff members, TSC teachers in Secondary schools & Tertiary institutions, TSC teachers in Primary schools (Diploma OR Degree holders), Mwalimu National Sacco Society Staff, and Members’ Spouses in formal employment.

 

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The good news is that now more than ever, mwalimu national sacco members can conveniently make saving, boost their shares and pay business loans at the comfort of their couch by using a mobile phone. This means that, one need not to visit a nearby sacco branch to access crucial services.

 

How to make FOSA savings to mwalimu national sacco using M-pesa paybill number

Go to your Mpesa menu
Select lipa na Mpesa.
Select Paybill
Enter Mwalimu National Sacco Business number 541 900
Enter Account Number (Your Identity Number)
Enter Amount to be transacted
Enter your Mpesa PIN Number
Confirm details
Click OK
You will get a confirmation message from Safaricom.

How to boost mwalimu national sacco BOSA shares using M-pesa paybill number

Go to your Mpesa menu
Select lipa na Mpesa.
Select Paybill
Enter Mwalimu National Sacco Business number 572645
Enter Account Number (Your Identity Number)
Enter Amount to be transacted
Enter your Mpesa PIN Number
Confirm details
Click OK
You will get a confirmation message from Safaricom.

How to pay mwalimu national sacco Business Loan using M-pesa paybill number

Go to your Mpesa menu
Select lipa na Mpesa.
Select Paybill
Enter Mwalimu National Sacco Business number 823256
Enter Account Number (Your Identity Number)
EnterAmount to be transacted
Enter your Mpesa PIN Number
Confirm details
Click OK
You will get a confirmation message from Safaricom.
Mwalimu National Sacco Contact
Head Office: Mwalimu Towers,
Hill Lane, Off – Mara Road, Upperhill.
Address: P.O. Box 62641 00200 Nairobi Kenya
Tel: +254 020 295 6000
Mobile: +254 709 898 000
SMS Number: 0721 270 944
Email: mwalimu@mwalimunational.coop

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