When it comes to achieving your personal or business financial goals, choosing the right financial partner is key. In Kenya, Sheria Sacco has positioned itself as a reliable and member-focused institution, offering some of the most competitive interest rates and loan products in the market. Whether you’re planning to build your dream home, buy land, pay school fees, or meet an emergency need, Sheria Sacco offers a range of loan products designed to meet diverse needs.
This article will guide you through the various loan options available, eligibility requirements, application process, repayment methods, and more. Let’s dive into everything you need to know about Sheria Sacco Loans in 2026.
Types of Loans Available at Sheria Sacco
Sheria Sacco offers a broad spectrum of loan products under two categories: BOSA (Back Office Service Activity) and FOSA (Front Office Service Activity). Each category is designed to serve specific financial needs, and each comes with its own set of terms and conditions.
1. BOSA Credit Products (Main Savings)
The BOSA products are designed to support long-term personal and business financial goals, such as homeownership, development, or emergencies.
Development Loan
- Purpose: Ideal for large projects such as home construction or land development.
- Loan Limit: You can access up to 4 times your deposits.
- Repayment Period: Up to 60 months.
- Interest Rate: 1% per month on a reducing balance.
Premier Loan
- Purpose: For high-value investments like buying property or establishing a large business.
- Loan Limit: Up to Ksh 30 million (or 4 times your deposits).
- Repayment Period: Up to 72 months.
Emergency Loan
- Purpose: For urgent needs, such as medical expenses or unexpected bills.
- Loan Limit: Varies based on deposits.
- Repayment Period: 12 months.
- Processing Time: Loans are processed within 24 hours.
School Fees Loan
- Purpose: Designed for education-related expenses, like tuition fees.
- Loan Limit: Depends on your deposits.
- Repayment Period: Typically 12 months.
2. FOSA Credit Products (Banking Services)
Sheria Sacco’s FOSA services are primarily focused on short-term financial needs and banking services.
Salary Advance
- Purpose: Ideal for members looking to access short-term credit before their next payday.
- Loan Limit: Up to 3 times your net salary.
- Repayment Period: 3 months.
E-Loan
- Purpose: A convenient mobile-based loan for fast access to credit.
- Loan Limit: Up to Ksh 500,000.
- Application Method: Available via the Sheria Senti App or USSD.
FOSA Pride Loan
- Purpose: Specifically tailored for business owners who deposit their income through a FOSA account.
- Loan Limit: Dependent on your account balance and business earnings.
Requirements to Apply for Sheria Sacco Loans
Before you can access any of Sheria Sacco’s loan products, you must meet the following requirements:
- Membership Duration: You must be a registered member of the Sacco for at least 6 months. Some FOSA loans require just 3 months of membership.
- Minimum Shares: Members must have accumulated at least Ksh 20,000 in share capital to qualify for loans.
- Guarantorship: For most BOSA loans, you will need 3 to 6 active members as guarantors.
- Documentation: You will need to provide a copy of your National ID, three months’ certified payslips, and a completed loan application form.
- Ability to Pay: Your total monthly deductions (including the loan repayment) should not exceed two-thirds of your basic salary.
Sheria Sacco Loan Application Form
The Sheria Sacco Loan Application Form is an essential document that members must complete when applying for a loan. It captures your personal details, employment history, loan requirements, and guarantor information. Here’s everything you need to know about the form:
Where to Find the Loan Application Form:
You can download the latest loan application forms from the Sheria Sacco Downloads Portal. The portal is updated regularly, so ensure you download the correct and most recent version.
What You Need to Fill Out:
- Personal Details: This includes your full name, National ID number, and contact information.
- Employment Information: Include your employer’s name, address, and your job position.
- Loan Details: Specify the loan amount you are requesting, the purpose of the loan, and the preferred repayment period.
- Guarantor Information: Most BOSA loans require you to provide information on 3 to 6 active members as guarantors. These members must also fill out the necessary sections of the application form.
- Declaration: You will be required to sign a declaration stating that all information provided is accurate and truthful.
Important Tips for Filling Out the Loan Form:
- Always fill the form in capital letters to ensure legibility.
- Do not make any alterations or use white-out on the form. These can lead to delays or rejection of your application.
- Ensure all required documents (e.g., payslips, ID copy) are attached to the application.
How to Apply for Sheria Sacco Loans
Sheria Sacco offers a few options for applying for loans, giving you the flexibility to choose the method that works best for you.
1. Manual Application
- Step 1: Download the loan application form from the Sheria Sacco Downloads Portal.
- Step 2: Fill out the form in capital letters, ensuring no alterations or whiteouts, which can lead to rejection.
- Step 3: Attach your recent payslips, National ID, and obtain signatures from your guarantors.
- Step 4: Submit the completed application at any Sheria Sacco branch (locations include Upper Hill, Milimani, and Kisumu).
2. Mobile Application (E-Loan)
- Step 1: Download the Sheria Senti App or use the USSD code to apply for loans directly from your mobile phone.
- Step 2: The loan approval process is typically fast, and you can get short-term credit almost instantly.
3. Online Portal
- Step 1: Log in to the Sheria Sacco Member Portal on the Sacco’s website.
- Step 2: Track your loan eligibility and submit your digital application for approval.
Repayment Methods for Sheria Sacco Loans
Sheria Sacco offers multiple options to make loan repayment as convenient as possible.
1. Check-off System
- Method: Your employer automatically deducts the loan repayment from your salary.
- Ideal For: Those employed in companies that have partnered with Sheria Sacco.
2. Standing Orders
- Method: Set up a standing order from your personal bank account to Sheria Sacco’s account.
- Ideal For: Self-employed individuals or those who do not have a check-off system.
3. M-Pesa Paybill
- Method: For those not using a check-off system, you can use M-Pesa Paybill to make loan repayments at your convenience.
- Paybill Number:964700. Ensure you use your National ID number as the account number.
4. FOSA Account
- Method: If your salary is processed through FOSA, loan installments will be automatically deducted from your account.
How to Deposit Funds to Your Sheria Sacco Account via M-Pesa (USSD Code)
Depositing funds into your Sheria Sacco account is a breeze, thanks to M-Pesa. Here’s how:
- Dial *472# on your phone.
- Enter your Mobile Banking PIN.
- Choose the “Deposit” option.
- Select whether to deposit to your Deposits/Shares or FOSA Account.
- Enter the amount and confirm the transaction on the M-Pesa prompt.
How to Withdraw from Sheria Sacco to M-Pesa
You can easily withdraw funds from your Sheria Sacco FOSA account to your M-Pesa account by following these simple steps:
- Dial *472# or use the Sheria Senti App.
- Select “Withdrawal”.
- Choose “To M-Pesa”.
- Enter the amount you wish to withdraw.
- Confirm the transaction, and the funds will be transferred to your M-Pesa account instantly.
Customer Support
Sheria Sacco is committed to providing excellent customer service. If you need assistance, you can reach out to them through the following channels:
- Phone: +254 20 780 1500 / 0722 745 156
- Email: info@sheriasacco.coop / bosa@sheriasacco.coop
- Physical Address: Sheria Sacco House, Matumbato Close, Upper Hill, Nairobi.
- Social Media: Follow them on Twitter (@SheriaSacco) and Facebook for updates and announcements.
Conclusion
Sheria Sacco provides a wealth of loan options and financial services tailored to meet a variety of personal and business needs. Whether you are applying for a long-term development loan or need immediate cash for an emergency, Sheria Sacco has you covered with flexible repayment terms, competitive interest rates, and multiple application channels.
By becoming a member of Sheria Sacco and taking advantage of their loan products, you are one step closer to achieving your financial goals in 2026 and beyond.