SACCOS VS SAVINGS VS MONEY MARKET FUNDS

Business
1

Been long and I have been incautious with my little money, therefore, I have a few questions to ask…wenye matusi pia waendelee

  1. Between saccos, money market funds and bank savings accounts, which offers better returns? I hear CFC gives an annual interest of 7%, which is the best among banks, as I am told.
  2. Which are the best saccos?
  3. How do I join a sacco considering I am not employed in any particular industry?
    Bets money market funds?

Thanks

2

Nearly all saccos admit outsiders provided you can can honor your monthly contributions. Most saccos offer between 10%-13% percent as dividends and you also have the opportunity to borrow when need arises.

3

There is no best option on returns. A mixed portfolio is best. Mix both long term and short term notes.

Saccos will let you in. Shop around for something that will compliment your goals. Kama ni mashamba are fulani, look for a sacco that has land in those areas. Stima Sacco looks like a great avenue on a lot of fronts.

4

AVOID saccos like a plague saccos will require shares *5 of the amount you want to borrow i.e if you want 500k you will deposit 100k which will be transferred to shares which to some sac cos are non refundable and you can get as low as 3% return annually

5

saccos are the best, the same question i asked here many yrs back and the answers i got changed my life… … i was told look for a sacco u have friends or u can create friends in it, … I.e Ua hood church sacco, ama near ua hustle area…Me am in one called UMOJA CATHOLIC HELP GRP.

6

STIMA SACCO niya masponsors and rich people…hapo nika kuingia Barclays bank

7

The problem will arise when you need guarantors to secure you a loan. Utaitana trust me!!

8

Hehehe wewe ni mshirika wa Mary Immaculate church, wewe ni wa jumuia jani? :D:D

9

Interesting that saccos are most recommended. And diversification is key, as @wheelz suggests.
Another one, does the treasury bills thing introduced last year work? The one for Kshs 3,000 by mobile phone?

Hapo kwa loan seems a huge problem. Most of the people I know are in government saccos-HArambee et al

10

Thats very true for an outsider.

11

Jumuia ndo nini? me hata si mshirika i only followed a lady ad she introduced me to her friends sasa loan nachukua kwa wingi, and good thing most members ni our Ladys, trust hua juu

12

Ubaya ya sacccos ni story ya guarantors! its not an easy thing

13

@SultBen you can invest in treasury bills the rates are 91 day 7,182 day 9% while 364day is 11%

14

Stima sacco my friend.1 milli plus fixed deposit…12% interest per annum

15

Kumbe kuna villager kwa hii sacco? Hehe

16

are u in it?