Loan Products

Secure your future with our diverse range of savings solutions

Our Loan Products

Explore our range of loan options tailored to meet your financial needs

BOSA Loans

Main Loan

This is a long term loan designed for members who want to do major investments.

All our loan products are accessible by all our members, therefore, you need to be a Sacco Member before you apply for any loan product, you also need to duly complete a loan application form.

Interest Rate

1.5% p.m.

Max. Repayment Period

48 Months

Features & Benefits

»Based on members share deposits x3
»Applicable for amount between Kshs. 250,000 – 2,000,000 based on basic salary
»Repayment periods – 48 months
»1/3 rule of basic salary to apply
»Top up is allowed after repaying 50% of the loan
»Interest rate at 1.5% per month on reducing balance
»Offset commission charged at 10% of the remaining balance
»Bridging fee of 2% charged on offsets of balances above 50% of issued loan
»Turn around period of 1-2 months is applicable

Requirements

Minimum 6 months membership
Active savings account
Completed loan application form
At least three guarantors who are members

College Fee Loan

Our College Fee Loan is designed to help you finance higher education expenses for yourself or your dependents. With competitive rates and flexible terms, this loan ensures access to quality education without financial barriers.

Interest Rate

12% p.a.

Max. Repayment Period

48 Months

Features & Benefits

» Based on members share deposits x4
» Applicable for amount between Kshs. 50,000-300,000 based on basic salary
» Repayment periods-24 months
» At least 3 guarantors required to cover the loan
» 1/3 rule of basic salary to apply
» Top up is allowed after repaying 50% of the loan
» Interest rate at 1.5% per month on reducing balance
» Offset commission charged at 10% of the remaining balance
» Bridging fee of 2% charged on offsets of balances above 50% of issued loan

» Turn around period of 14 days is applicable

Requirements

Minimum 6 months membership
Active savings account
Completed loan application form
University/college fee structure
At least three guarantors who are members
Proof of enrollment or admission letter

Emergency Loan

Our Emergency Loan provides quick access to funds for unexpected expenses with minimal processing time. This loan is designed to help you manage unforeseen financial needs with ease.

Interest Rate

14% p.a.

Max. Repayment Period

12 Months

Features & Benefits

» One has to be a member of the society for 6 months
» Based on members share deposits x4
» maximum amount of Kshs. 100,000
» Repayment periods-12 months
» 1/3 rule of basic salary to apply
» Top up is allowed after repaying 50% of the loan
» Interest rate at 1.5% per month on reducing balance
» Offset commission charged at 10% of the remaining balance
» Bridging fee of 2% charged on offsets of balances above 50% of issued loan
» Turn around period of 1 day is applicable

Requirements

Minimum 3 months membership
Active savings account
Completed loan application form
At least 3 guarantors required to guarantee the loan
Proof of emergency (may be required)

School Fees Loan

Our School Fees Loan is specifically designed to help you manage educational expenses. With favorable terms and competitive rates, this loan ensures your children’s education remains uninterrupted.

Interest Rate

10% p.a.

Max. Repayment Period

12 Months

Features & Benefits

» Flexible borrowing options
» The application process is short and simple
» Refinancing during the loan period is allowed
» Based on members share deposits x4
» Applicable for a maximum amount of Kshs. 240,000
» Maximum Repayment period -18 months
» 1/3 rule of basic salary to apply
» Top up is allowed after repaying 50% of the loan
» Interest rate at 1.5% per month on reducing balance
» Offset commission charged at 10% of the remaining balance
» Bridging fee of 2% charged on offsets of balances above 50% of issued loan
» Turn around period of 14 days is applicable

Requirements

Minimum 6 months membership
Active savings account
Completed the loan application form
The fee structure from the school
At least 3 guarantors who are members

SASA Loans

Specialized loans for members with salary accounts through SASA

SASA Advance Loan

The SASA Advance Loan provides quick access to funds for members with salary accounts processed through SASA. This loan is based on your basic salary and offers fast processing for immediate financial needs.

Max Amount

KES 60,000

Repayment Period

6 Months

Features & Benefits

Maximum of ksh.60,000/=
Based on one’s basic salary
Repayment period of 6 months maximum
Interest rate 5% per month
Processing period is instant
1/3 rule observed
Offset commission charged – Advance to advance 3%
Offset commission charged – Advance to BOSA 12.5%
1% insurance fee
1% processing fee

Requirements

Active SASA salary account
Minimum membership period
Completed loan application form
Regular salary deposits through SASA
Must be guaranteed by 2 guarantors

Super Advance Loan

The Super Advance Loan offers higher loan amounts for members with SASA salary accounts. This loan provides access to larger sums for significant expenses while maintaining affordable repayment terms.

Loan Range

KES 60K-150K

Repayment Period

Up to 12 Months

Features & Benefits

Allowed amount is between kshs. 60,000/= and ksh.150,000/=
Based on one’s basic salary
Repayment period of 12 months maximum
Interest rate 5% per month
Processing period is instant
1/3 rule observed
Offset commission charged – Advance to advance 3%
Offset commission charged – Advance to BOSA 12.5%
1% insurance fee
1% processing fee

Requirements

Active SASA salary account
Consistent salary deposits
Completed loan application form
Proof of salary amount
Good repayment history
Must be guaranteed by 2 guarantors

Okoa Jahazi Loan

The Okoa Jahazi Loan is specifically designed for SASA bank members whose pension and salary payments are processed through the SASA system. This loan provides financial relief and support for various needs.

Interest Rate