BOSA LOANS
General eligibility requirements
- 3 times share deposits multiplier.
- 1/3 Rule policy maintained.
- Eligible guarantors.
Provide members with working capital funds and affording them more manageable installments repayment.
Features:
- Interest rate is 13% p.a (Constant repayment).
- Maximum amount of Ksh 10,000,000.
- Maximum repayment period of 60 months.
- At least 6 Guarantors (Loan above Ksh 2,000,000, 10 guarantors).
This is designed to help members in their investment and development plans .
Features;
- Interest rate on loan is 12% p.a on reducing balance.
- Maximum amount of Ksh 10,000,000.
- Maximum repayment period of 48 months.
- At least 6 Guarantors (Loan above Ksh 2,000,000, 10 guarantors).
This product is specifically for retiree members and is self-guarantee. The loan applied shall be less than the share deposits
Features
- Interest rate on loan is 9% per annum on reducing basis.
- Maximum amount of Ksh 7,000,000.
- No guarantors.
- Maximum repayment period is 72 months
This is designed to help members in their investment and development plans .
Features;
- Interest rate on loan is 12% p.a on reducing balance.
- Maximum amount of Ksh 2,000,000.
- Maximum repayment period of 48 months.
- At least 6 Guarantors (Loan above Ksh 2,000,000, 10 guarantors).
This loan is designed to help members meet school fee needs.
Features;
- Quick processing and disbursement.
- Interest rate on loan is 12% on reducing balance.
- No Maximum amount.
- Maximum repayment period of 12 months.
This is designed to help members meet emergency cases.
Features;
- Quick processing and disbursement.
- Interest rate on loan is 12% on reducing balance.
- Maximum amount of Ksh 300,000.
- Maximum repayment period of 12 months.
Provide members with working capital funds and affording them more manageable installments repayment.
Features:
- Must have been a member of the SACCO for at least 3 month.
- BOSA Product 1/3 rule applies.
- Interest rate is 12%.
- Repayment period is 6 months.
Features;
- Loan repayment period up to Ninety Six (96) months.
- Can be used to bridge Taratibu, Normal, Emergency and Education loans.
- Can be used to buy loans from other financial institutions.
- A one off charge of 3% of loans being bridged or bought will be charged.
- Can be secured through guarantors and/or collateral.
- The interest rate shall be 14% per annum on straight line basis or as may be determined from time to time.
- Salary must be channeled through FOSA.
- Loan will be given up to three times a member’s deposits.
- The maximum loan granted shall be Kshs 10,000,000.
This loan is designed to help members achieve their long-term development and investment needs.
1. Four times deposit multiplier
2. Interest rate at 15% amortized
3. Uses collateral to secure the loan
4. Maximum amount is 15,000,000.
5. Alternative sources of income are allowed.
6. Repayment period up-to 96 Months.
7. Mandatory physical verification of the collateral.