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List of Things to Consider Before Joining Sacco or MMF in Kenya

List of Things to Consider Before Joining Sacco or MMF in Kenya


Published on 2024-12-29 00:00:47 - Tuko
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  • Before joining a Sacco or Money Market Fund (MMF) in Kenya, it is crucial to assess your financial goals and risk tolerance. Kenyan financial experts shared tips.

The article from Tuko.co.ke discusses the process and benefits of joining a Sacco (Savings and Credit Cooperative Organization) or a Money Market Fund (MMF) in Kenya. It outlines the steps to join a Sacco, which include choosing a Sacco, understanding its requirements, filling out an application form, providing necessary documentation like ID and KRA PIN, making an initial deposit, and attending an orientation. For MMFs, the process involves selecting a fund, reviewing its performance, understanding the terms, and then investing through a financial institution or directly with the fund manager. The article highlights the advantages such as higher interest rates compared to traditional bank savings, lower loan interest rates, and the potential for financial growth and stability. It also mentions the importance of due diligence before committing to any financial institution to ensure they meet one's financial goals and are reputable.

Read the Full Tuko Article at:
[ https://www.tuko.co.ke/business-economy/573730-list-joining-sacco-mmf-kenya/ ]
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