BOSA ACTIVITY Details

BOSA ACTIVITY

Bosa means back office saving.

Saving Services.

• Purchase of minimum class A shares of ksh. 30,000
• Monthly Deposits of ksh. 2,000

 

Conditions of Membership

• Fill application form
• Be a kenyan Citizen
• Copy of ID card
• Entrance fee of ksh.500
• Should be of sound mind

Loan Types offered.

• Development Loan
• Open to all class A members
• Should have saved with the Sacco for atleast 6 months
• Deposits multiplied by 4
• Repayment period 72 months
• Should have gaurantors

 

School Fees Loan

• Open to members for education fees purpose
• Repayment period not more than 12 months
• Deposits multiplied by 3 but within the eligibility
• Granted within 1/3 rule
• Should have guarantors

Emergaency Loans

• Must have saved with the Sacco for 3 months
• Appraisal fee of 2 % and insurance at 1 %
• Repayment period of 12 months
• 1/3 rule is applied
• Should have guarantors

Other BOSA Services.

• - Deposit boosting
  Members have the option to increase their deposits on top of normal check-off system
• - Pay Cash
  Capitalization of either dividend un-paid or interest to deposit od part of loan applied
  FOSA salary net standing order to boost deposits