BOSA LOAN PRODUCTS

BOSA Products

BOSA Products

Back Office Service Activity
(BOSA)

Back Office Service Activity deals with non-withdraw able savings and allows members to borrow against their savings, at very competitive interest rates.

To qualify for credit facilities in the Sacco one must be above 18 years of age.

BOSA LOAN PRODUCTS

Emergency Loan

  • Given at 3 times of a member’s deposits
  • Maximum repayment period of 12 months.
  • Interest rate of 1% per month on reducing balance.
  • No documentary evidence is required

Farm Input Loan

  • Given at 3 times of a member’s deposits
  • Interest rate of 1% per month on reducing balance
  • Maximum repayment period of 24 months.
  • Maximum of Kshs. 200,000 and minimum of Kshs. 6,000
  • Issued between the month of February and April every year

School Fees Loan

  • Given at 3 times of a member’s deposits
  • Interest rate of 1% per month on reducing balance.
  • Maximum repayment period of 36 months.

College/University Loan

  • Interest rate of 1% per month on reducing balance
  • Maximum repayment period of 48 months.
  • Treated as development loan
  • Paid through cheque on trimester or semester basis
  • Given at 3 times of a member’s deposits

Development Loan

  • Available to members who are servicing the Normal Loan.
  • Given at 3 times of a member’s deposits
  • Maximum repayment period of 60 months.
  • Interest rate of 1% per month on reducing balance.

Super Smart Loan

  • Given at 3 times of a member’s deposits.
  • Maximum repayment period of 72 months.
  • Interest rate of 1% per month on reducing balance.

Smart Vision Loan

  • Maximum repayment period of 84 months.
  • Given at 4 times of a member’s deposits.
  • Interest rate of 1% per month on reducing balance.

Do you wish to apply?

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%.