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0734897817

info@shirikasacco.co.ke

shirikasaccosociety@gmail.com

BOSA Loan Products

BOSA LOAN PRODUCTS

Smart Loan:

All loans should  be within 3 times members deposits repayable within 90 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 24 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

The loan is applicable to new members who are 12 months and below as follows:

  1. 50% of the loan is used to boost the deposit at a commission of 6%.
  2. Maximum loan is Ksh 300,000.
  3. Maximum repayment period of 36 months at 1% reducing balance.
  4. Loan is issued to check-off members
  5. Minimum of KShs 25,ooo share capital is recovered fully from the loan

The loan is applicable to all members who are 13 months and above who would wish qualify foa product but are limited by deposits  as follows:

  1. Maximum loan is Ksh 500,000.
  2. Maximum repayment period of depend on loan type being applied.
  3. A commission of 6% is applicable to the boosted amount which is transferred to deposits.
  4. Loan is issued to check-off members
  5. Minimum of KShs 25,ooo share capital is recovered fully from the loan

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.

 

Mega Loan :

  • Repayment period is 96 months.
  • Interest of 1% per month.
  • Deposit multiplier of four.
  • Member must processing salary through FOSA.
  • Member must have deposit of 1 million and above.

Nguvu Loan:

  • Repayment period is 90 months.
  • Interest rate of 1% per month.
  • Deposit multiplier of four.
  • Member must processing salary through FOSA to qualify for 90 months repayment.

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