Baraka Sacco Society Ltd is a registered deposit-taking microfinance institution that provides a wide range of financial services to its members.
The society was founded in 1997 and is headquartered in Nairobi, Kenya.
Baraka Sacco Society Ltd Membership Eligibility
To be eligible for membership in Baraka Sacco Society Ltd, you must meet the following criteria:
- Be a Kenyan citizen
- Be at least 18 years old
- Have a valid national ID or passport
- Be able to read and write
- Be able to meet the society’s savings requirements
Baraka Sacco Society Ltd Membership Requirements
Once you have been approved for membership, you will need to pay an entrance fee of Kshs. 500 and purchase a minimum of 10 shares. The share value is currently Kshs. 1,000.
You will also need to open a savings account with the society. The minimum opening deposit is Kshs. 1,000.
Baraka Sacco Society Ltd Benefits of Membership
There are many benefits to being a member of Baraka Sacco Society Ltd. These include:
- Access to a wide range of financial services, such as savings, loans, and insurance
- The opportunity to earn dividends on your shares
- The ability to participate in the society’s decision-making process
- The chance to network with other members
How to Apply for Membership
To apply for membership in Baraka Sacco Society Ltd, you can visit any of the society’s branches or download the application form from the society’s website.
The application form must be completed in full and submitted along with the required documentation.
ConclusionÂ
Baraka Sacco Society Ltd is a great option for Kenyans who are looking for a reliable and affordable financial institution. The society offers a wide range of financial services, and its membership requirements are relatively easy to meet.
If you are interested in becoming a member of Baraka Sacco, I encourage you to visit any of the society’s branches or download the application form from the society’s website.
Here are some additional details about Baraka Sacco Society Ltd’s membership requirements
- You must be a salaried employee or self-employed.
- You must have a valid business permit if you are self-employed.
- You must have a good credit history.
- You must be able to meet the society’s monthly savings requirement.
If you meet all of the eligibility requirements, you can apply for membership in Baraka Sacco. The application process is simple and straightforward. You can apply online or at any of the society’s branches.
Once your application is approved, you will need to pay the entrance fee and purchase shares. You will also need to open a savings account with the society.
After you have become a member, you will be able to access all of the society’s financial services. These include savings, loans, and insurance. You will also be able to participate in the society’s decision-making process.
Baraka Sacco Society is a great way to save money, get loans, and protect your assets. If you are looking for a reliable and affordable financial institution, I encourage you to consider joining Baraka Sacco.
