How To Remit For The Tenant Purchase Scheme (TPS) By NSSF Kenya

By Juma / Published March 28, 2023 | 8:17 am




KEY POINTS

Kenya has an annual housing demand of 250,000 units with an estimated supply of 50,000 units, culminating in a housing deficit of 2 million units, or an 80 percent deficit.


Nairobi

KEY TAKEAWAYS


TPS under NSSF has for several years provided an easier path to homeownership by enabling buyers to purchase homes through monthly payments. More than 6,000 families have been accommodated under the scheme over the years.


Kenya has an annual housing demand of 250,000 units with an estimated supply of 50,000 units, culminating in a housing deficit of 2 million units, or an 80 percent deficit. This has left millions of Kenyans without a place to call home, hence the mushrooming of slums.

Housing affordability is a key challenge in Kenya with many people unable to afford to buy or build their own homes. Only 2 percent of the formally constructed houses target lower-income families. With the skyrocketing prices, a few can afford to own houses.

About 6.4 million people, or of Kenya’s urban population live in informal settlements. Many families are at high risk of diseases such as malaria, respiratory infections, and/or parasitic jiggers’ infestation. They live in an inhumane environment.

Related Content: Ask Yourself The Following 5 Simple Questions Before Saving With NSSF

To help address the housing challenge in Kenya, the National Social Security Fund (NSSF) became a pioneer and enabler of homeownership under the Tenant Purchase Scheme (TPS), making it possible for people to own homes without breaking the bank.

TPS under NSSF has for several years provided an easier path to homeownership by enabling buyers to purchase homes through monthly payments. More than 6,000 families have been accommodated under the scheme over the years.

In a country with a persistent housing deficit, the NSSF TPS offers a flexible home purchase model that is greatly contributing to the government’s affordable housing objective of the ‘Big Four’ development agenda.

To enable people easily join the program and pay for it, NSSF has laid down payment infrastructures that enable people to remit their monthly payments without a hustle.

There are two ways that a customer can remit their TPS to the National Social Security Fund:

Cash Deposit/EFT/RTGS

Under this mode of payment, the customer account number MUST be quoted as the Reference Number. The account details are:

ACCOUNT NAME: NSSF TENANT PURCHASE SYSTEM

BANK: KCB BANK

BRANCH: MILIMANI

ACCOUNT NO:  1103267647

USSD

This is the easiest mode of payment and the most convenient. All that one needs is to dial *303#, select option 3 (TPS) and follow the steps to make the payments.

Related Content: How Can You Remit Your Contributions To The National Social Security Fund?




About Juma

Juma is an enthusiastic journalist who believes that journalism has power to change the world either negatively or positively depending on how one uses it.(020) 528 0222 or Email: info@sokodirectory.com

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