BOSA LOAN PRODUCTS
Smart Loan:
All loans should be within 3 times members deposits repayable within 72 months.Interest rate is 1% per month on declining balance.
School Fees Loan:
Repayable in one calendar year at 1% interest per month on declining balance.
College Fees Loan:
Repayable in 12 months at 1% Interest per month on declining balance.
Emergency Loan:
Repayable in 12 months. Interest at 1% per month . Only one Emergency loan is allowed at a time.
Super Savers Loan:
Long term loan repayable in 84 months for members with deposit of 1,000.000 and above. Interest at 1% per month on declining balance.
Debooster Loan
It is the first loan of newly recruited members. 50% of the loan is used to boost the deposit at a commission of 5%. Maximum loan is Ksh 500,000.
Senior Citizen Loan :
- This is a product for retired society members who process their pension through the FOSA or place an irrevocable standing order with the bank.
- Security for the loan is title deed for commercial property or fully guaranteed by members in check off system. Deposit multiplier three times the deposit. Interest rate 1% per month ,repayment period 48 months.
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