BOSA LOANS

Appraisal of Bosa loans is based on 3 times multiplier on ones deposits. Deposits are contributed through check off, Mobile Banking, Cash or Standing Orders. Available loan products are as below;

SUPER LOAN + - Account Features Click to collapse Loan is granted for investment and development purposes. Repayable within 96 Months. Amortized Loan Repayments - Equal Monthly Repayment Installment which consists of Principal and Interest. Interest - Monthly amortization at 1.2%. One off processing fee of 0.5% on approved loan amount.	JITEGEMEE LOAN + - Account Features Click to collapse Loan is granted for investment and development purposes. Repayable within 84 Months. Amortized Loan Repayments - Equal Monthly Repayment Installment which consists of Principal and Interest. Interest - Monthly amortization at 1.125%. One off processing fee of 0.5% on approved loan amount.	DEVELOPMENT(NORMAL)LOAN + - Account Features Click to collapse Loan is granted for investment and development purposes. Repayable within 60 Months. Amortized Loan Repayments - Equal Monthly Repayment Installment which consists of Principal and Interest. Interest - Monthly amortization at 1.0%. One off processing fee of 0.5% on approved loan amount.	SCHOOL FEES LOAN + - Account Features Click to collapse This product is mainly to assist members pay School/College or University fees. No supporting document from the school, college or university is required. Repayable within 12 months. Amortized Loan Repayments - Equal Monthly Repayment Installment which consists of Principal and Interest. Interest - Monthly amortization at 1.0%. One off processing fee of 0.5% on approved loan amount.
EMERGENCY LOAN + - Account Features Click to collapse Loan granted to meet members’ emergency needs within the shortest time possible. Repayable within 12 Months. Amortized Loan Repayments - Equal Monthly Repayment Installment which consists of Principal and Interest. Interest - Monthly amortization at 1.0%. One off processing fee of 0.5% on approved loan amount.	ADDITIONAL LOAN + - Account Features Click to collapse Loan is targeted at enabling borrowers to bridge financing gaps with respect to their uncompleted developmental projects. Repayable within 30 Months. Amortized Loan Repayments - Equal Monthly Repayment Installment which consists of Principal and Interest. Interest - Monthly amortization at 1.2%. One off processing fee of 0.5% on approved loan amount.	LA RIBA ADVANCE LOAN + - Account Features Click to collapse This is a zero interest loan targeted to members who are obliged to be Shariah Compliant. Repayable within 36 Months. Maximum loan upto 2 times deposits. Equal monthly repayment installment. Upfront Administration Fee of 15% of the amount approved is recovered upon disbursement. Borrower qualify for dividend and interest on their shares and deposit savings like all other members. Accessible to all members subject to eligibility. One off processing fee of 0.5% on approved loan amount.	CHIPUKIZI LOAN + - Account Features Click to collapse Loan product is suited for new members particularly newly employed staff in public service. Members from the public sector can however access the loan irrespective of membership period provided it is ones first loan in the Society. At least one month’s check-off remittance or two months’ salary though Fosa for one to qualify for the loan. Part of the loan funds are deducted and retained to the member’s deposit account to ensure deposit balance of at-least one third of the loan amount. Repayable within 48 Months. Maximum Loan amount of Kshs 500,000/- Amortized Loan Repayments - Equal Monthly Repayment Installment which consists of Principal and Interest. Interest - Monthly amortization at 1.0%. One off processing fee of 0.5% on approved loan amount.

OTHER SERVICES APPLICABLE TO ALL LOANS

Loan Top-up Service (Daraja Loan)

This refers to any new loan meant to clear any other outstanding loan balance(s).
Commission of 5% is charged on the amount cleared.

Deposit Boosting Service (Hisa Loan)

Granted to boost Bosa deposits for purposes of accessing any loan.
Granted to a maximum of 100% of a member’s deposits but not exceeding Kshs 750,000/=;
Commission of 15% is charged on the deposits amount purchased.
One off recovery upon loan disbursement.