Members access BOSA loans based on their deposits in multiples of 5 or 6. 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 – 96 months.
- Given at 5 times of a member’s deposits .
- Interest rate of 1% per month on reducing balance.
- Maximum repayment period of 84 months.
Click here to download Loan application Form
2. Top-Up Normal /Development Loan
- Available to members who are servicing the Normal Loan.
- Given at 5 times of a member’s deposits.
- Maximum repayment period of 84 months.
- Interest rate of 1% per month on reducing balance.
Click here to download Loan application Form
3. School Fees and College Fees Loans
- Given at 5 times of a member’s deposits
- Maximum repayment period of 12 months.
- Interest rate of 1% per month on reducing balance.
- Given at 6 times of a member’s deposits.
- Maximum repayment period of 96 months.
- Interest rate of 1.15% per month on reducing balance.
- Given at 5 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
- Given at 5 times of a member’s deposits .
- Maximum repayment period of 18 months.
- Interest rate of 1% per month on reducing balance.
- 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.
Advanced within deposits multiplier (*5) Repayment period - 48 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.
For new members who are on check off but have not finished the mandatory 4 months waiting period.
- Given at 5 times of a member’s deposits
- Member qualifies after first contribution is received
- Maximum loan is KES 300,000
- Interest rate – 1% per month on reducing balance
- Repayment period- 24 months or within contract term
- Hisa loan applies
Loan product for acquisition of telecommunications products (mobile phones and tablets) from any dealer.
- 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:
- Members can now purchase products from outlets of choice that offer mobile phones, tablets and laptops through check off
- The dealer 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.
- Loan is appraised and processed in the usual manner.
- Payment is made to the service provider.
- 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%.