Savings

BBF Products

Mwamba Imara Sacco’s BBF ensures peace of mind for you and your loved ones with affordable coverage options for both nuclear and extended families

About BBF

At Mwamba Imara Sacco, our Bereavement Benefit Fund (BBF) provides financial relief to our members during difficult times.

  • Nuclear Family BBF Annual Premium: Ksh. 2,400 Who Qualifies: All members of Mwamba Imara Sacco Who It Covers: Spouse and biological children under 18 years Benefit: Ksh. 100,000 per claim Incubation Period: 6 months This product offers coverage for the nuclear family, ensuring that immediate family members are financially protected.
  • Nuclear & Biological Parents BBF Annual Premium: Ksh. 3,600 Who Qualifies: All Mwamba Imara Sacco members, except those whose siblings are already members Who It Covers: Spouse, biological children under 18 years, self, and biological parents Benefit: Ksh. 100,000 for spouse and biological children, Ksh. 50,000 for biological parents Incubation Period: 6 months Comprehensive coverage, extending financial support to your spouse, children, and biological parents in case of bereavement
  • Spouse & Biological Parents BBF Annual Premium: Ksh. 1,800 Who Qualifies: Any Mwamba Imara Sacco member whose spouse has taken any BBF product Who It Covers: Biological parents Benefit: Ksh. 50,000 per claim Incubation Period: 6 months This affordable plan provides coverage for your spouse’s biological parents, offering support during times of loss.

BBF Features

Designed to support families in case of loss, this benefit ensures that your loved ones are taken care of without financial burden.

Lifetime Membership

Members contribute for 10 years and then become lifetime members, no longer required to contribute further.

Comprehensive Coverage

The BBF covers immediate family members, ensuring peace of mind in the event of a family loss.

Affordable Premiums

Our low annual premiums make it easy for you to secure this vital benefit for your loved ones.

Membership

Must be an active member of Mwamba Imara Sacco.

Incubation Period

A waiting period of 6 months applies to all new members before claims can be made.

How to Enroll in BBF

Enrolling in the Bereavement Benefit Fund is simple:

Step 1: Choose the BBF plan that best suits your family’s needs.
Step 2: Submit the completed application form and pay the annual premium.
Step 3: Enjoy the peace of mind that comes with knowing your family is financially protected.

Application form
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Frequently Asked Questions

Got a question about how we’re organised, applying to work for us, or looking for financial or shareholder information?

To become a member, complete and sign the membership form. Attach the following documents:

  • Copy of ID or Passport
  • Two passport-size photos
  • KRA PIN copy
  • Make the initial payment

The initial payment is Ksh 3,000, broken down as follows:

  • Ksh 1,000 – Registration fee
  • Ksh 1,000 – Share capital
  • Ksh 1,000 – Savings account

The minimum monthly savings is Ksh 1,000.

Use Paybill number 198683, and the account number is your membership number.

No, there is no penalty.

Your savings are 100% safe and confidential.

You need to save for 6 consecutive months to qualify.

Yes.

  • Non-withdrawable savings earn 8% p.a (2022) and 5.14% p.a (2023).
  • Withdrawable savings earn 4% p.a, calculated monthly.

Submit an official withdrawal letter to the management. This can be handwritten or sent via email.

You need:

  • Fully filled and signed loan form
  • Copy of your ID
  • Loan application fee
  • Signed by guarantors or self-guaranteed

After a one-month grace period, repayment can be made over 1 to 48 months.

Use Paybill number 198683, and the account number is your membership number.

The interest rate is 12% p.a on a reducing balance.

BBF is a fund that provides financial assistance for the burial of a member’s nuclear or biological family.

  • You must be an active member of Mwamba Imara Sacco.
  • Contribute the annual BBF amount.
  • Nuclear Family: Ksh 2,400 per year
  • Nuclear Family + Biological Parents: Ksh 3,600 per year
  • For a member whose spouse is also a member, an additional Ksh 1,200 per year covers in-laws.

Sacco Houses are groups formed within the Sacco by members with a common agenda, such as bonding or guarantorship.

First, become an active Sacco member, then join a House through a recommendation from other members.

  • You get to know other Sacco members better.
  • Participate in activities that generate income within the House.
  • Receive education from the Sacco marketing officer.

We are located in Makupa, along Kenyatta Avenue, off Mtwafi Road, opposite Co-operative Bank Makupa Branch, near Makupa Police Station.

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Whether you’re seeking affordable loans, high-interest savings accounts, or investment opportunities, we are here to help you achieve your financial goals.

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