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Loans Calculator

*The rates above are indicative, visit a branch near you for more details.

Locate us

Current Location
Current Location
Nairobi Province, Nairobi

Back Office Savings Activity (BOSA) Loans

Members access BOSA loans based on their deposits in multiples of 4 or 5. Individual members and chamas may borrow up to a maximum of Ksh. 30 million while corporates may borrow up to Ksh.40 million subject to ability to pay. To cater for our members’ financial needs, we offer a wide range of products with repayment periods of 12 – 84 months.

Normal /Development Loan

  • Given at 4 times of a member’s deposits.
  • Interest rate of 1% per month on reducing balance.
  • Maximum repayment period of 72 months.

Click here to download Loan application Form

Top-Up Normal /Development Loan

  • Available to members who are servicing the Normal Loan.
  • Maximum repayment period of 72 months.
  • Interest rate of 1% per month on reducing balance. 

Click here to download Loan application Form

School Fees and College Fees Loans

College Fees Loan is given up to a maximum of Ksh. 500,000 per year. Nursery to secondary School Fees Loan given up to a maximum is Ksh. 200,000/- per year. Interest rate of 1% per month on reducing balance. Maximum repayment period of 12 months.

Super Loan

  • Given at 5 times of a member’s deposits.
  • Maximum repayment period of 84 months.
  • Interest rate of 1.15% per month on reducing balance.

Emergency Loan

  • Given at 4 times of a member’s deposits.
  • Maximum repayment period of 12 months.
  • Interest rate of 1% per month on reducing balance.

Click here to download Loan application Form

Top-Up Emergency Loan

Maximum repayment period of 12 months. Interest rate of 1% per month on reducing balance.

Hisa Loan

  • A facility for boosting a members deposits by the Sacco in order to access a bigger loan or clear an outstanding loan for purposes of accessing a new loan.
  • Maximum of Ksh. 500,000.
  • One off interest of 5% recovered from the loan issued.

NEW PRODUCTS

Daraja Loan

Advanced within deposits multiplier (*4) Repayment period - 36 months Interest rate - 1 % per month on reducing balance If member wishes to clear emergency loans, an interest on early redemption of 5% shall be charged.

Jibu Loan

For new members who are on check off but have not finished the mandatory 4 months waiting period.

  • Member qualifies after first contribution is received
  • Maximum loan is KES 200,000
  • Interest rate – 1% per month on reducing balance
  • Repayment period- 24 months or within contract term
  • Hisa loan applies

Tech Loan

Loan product for acquisition of telecommunications products (mobile phones and tablets) from Safaricom by all members.

  • Loan limit is 50% of deposits or Kshs. 150,000/= whichever is lower
  • Interest rate- 0.8% on reducing balance
  • Repayment period – 12 months

     Tech Loan Application Process:

  1. Member visits a Safaricom shop/approved service provider and identifies the desired device.
  2. The service provider issues member with a proforma invoice indicating the identified device and the respective retail price.
  • Member fills the SACCO loan application form in the usual manner and attaches the proforma invoice.
  1. Loan is appraised and processed in the usual manner.
  2. Payment is made to the service provider.
  3. Member is contacted by the service provider giving details on collection of the device. The member will be identified using the original National ID.

Requirements for Loan Application

Members are required to be familiar with the Society’s current Loan Policy. Dully filled loan application form. Attach one original current pay-slip (not more than two months old to the date of application) A copy of National ID Card showing both sides. All loans must be secured by guarantors or collateral Private members to use own deposits for guarantor ship of up to 95%.

Chama Loan

  • Advanced at 4 times Chama’s deposits
  • Interest rate of 1% per month on reducing balance
  • Maximum repayment period of 36 months.
  • Maximum of Ksh. 30,000,000

 Requirements for a Chama Loan

  1. Consistent contributions for 4 months.
  2. A fully filled application form signed by the officials.
  3. Group minutes authorizing for loan application.
  4. Purpose of the loan must be within the Group/Chamas constitution.

 

Click here to download HiSA application Form