Magadi Sacco Society Ltd
Magadi Sacco Membership
SACCO membership · Regulated by the SASRA
A member-owned SACCO licensed by SASRA. Founded in 1977. It takes deposits and offers loans.
Hear when this changes
The details that matter for this kind of plan
- Licence
- Listed as a deposit-taking SACCO by SASRA for 2026
- Entry fee
- KES 2,000 one-off membership fee
- Share capital
- Minimum 200 shares at KES 100 each (KES 20,000)
- Loan terms
- Up to 3x deposits, 12% p.a., 60-month repayment, 6 months membership required
- Dividend rate
- Not published on the SACCO's website
How to open this
- Open with KES 20,000
What does it cost you?
| Taken off each payment you makeone-off membership fee | KES 2,000 |
|---|
What if you stop paying?
The SACCO does not publish this. Ask it before you join.
What if you need the money early?
The SACCO does not publish notice periods. Ask it how long it takes to get deposits back.
Who this suits
It could work for you if
You want a licensed SACCO with a clear entry fee and share capital.
Think twice if
You need a published dividend rate or withdrawal terms before you join.
What they tell you
- What is taken off the money you pay in?KES 2,000, taken from one-off membership fee.
- What is the smallest amount you can start with?KES 20,000.
- Do they say who regulates them?Yes — the SASRA. That is who you complain to.
Talk to them
- Website: www.magadisacco.co.ke
- Email: info@magadisacco.co.ke
- If something goes wrong, the SASRA is who supervises them.
Compared with the others
There are 222 other plans of this kind on the board. See all 223 side by side — what each one leaves you with, and which of them will not say.
What has changed here
- 18 September 2026
- Somebody read the company's own material only a regulator's listing → researched
- Smallest lump sum to start is now KES 20,000, and was not published before
- Taken off each payment you make is now KES 2,000, and was not published before
- The most you can borrow is now KES 40,000, and was not published before
- How many times your savings you can borrow is now 3x, and was not published before
- How long you have to repay is now 180 days, and was not published before
We started keeping this record in August 2026. Anything that changed before then is not here. The whole board's record.
What the documents actually say
Every figure above was read out of a document. These are the sentences, word for word, so you can check them rather than take our word for it.
“A member is expected to hold at least 200 shares of Kshs.100 or more as may be set in a general meeting.”
Magadi Sacco Society Ltd — savings products and joining requirementsthe company itselfread 2026-09-18“Applicant must have been a member for at least 6 months”
“Cash withdrawal – Kshs. 43 for up to a maximum of Kshs. 40,000 per transaction. Each member is allowed up to Kshs. 40,000 in withdrawals per day.”
“Interest as low as 12% p.a”
“Join the SACCO now by: completing the membership application form, paying a one off membership fee of KES. 2000 and buying at least 200 shares at KES 100”
Magadi Sacco Society Ltd — savings products and joining requirementsthe company itselfread 2026-09-18“Loan amount up to 3 times member's deposits”
“Maximum loan amount is Kshs. 40,000.”
“members' deposits have grown from less than Kshs. 50,000 to over Kshs. 850 Million while the asset base of the Sacco has grown to over Kshs. 1 Billion”
“over 5,000 members in 2025”
“Repayment period of up to 60 monthly instalments”
“the asset base of the Sacco has grown to over Kshs. 1 Billion”
“The Sacco began its operations in 1977 following its registration under the Co-operative Societies Act (Registration No 2664)”
“The Sacco's membership has grown from the initial 50 members in 1977 to over 7,000 members in 2022.”
“Listed as a deposit-taking SACCO by SASRA for 2026”
SASRA: list of licensed and authorised Sacco societies, FY ending 31 Dec 2026the regulatorread 2026-09-16
Where we got this
- Read on 2026-09-16
- Magadi Sacco Society Ltd — homepagethe company itselfRead on 2026-09-18
- Magadi Sacco Society Ltd — about usthe company itselfRead on 2026-09-18
- Magadi Sacco Society Ltd — savings products and joining requirementsthe company itselfRead on 2026-09-18
- Magadi Sacco Society Ltd — loans and advancesthe company itselfRead on 2026-09-18
- Magadi Sacco Society Ltd — mobile banking and M-Cash chargesthe company itselfRead on 2026-09-18