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BOSA Loans

Development loan

  • This product is open to all members.
  • A member can take maximum loan of 4 times deposits held.
  • Repayment period: 72 months.
  • Interest rate: 1% p.m on loan reducing balance.

School Fees Loan

  • This loan is meant for school fees.
  • A member can take a loan of up to 4 times deposits held.
  • Repayment period: 1 Calendar Year.
  • Interest rate: 1% p.m on loan reducing balance.

Emergency Loan

  • This loan is meant for unforeseen circumstances like burials, natural calamities, court orders, etc.
  • A member should have serviced all other loans.
  • Repayment period is capped at 12 months.
  • Interest rate: 1% p.m on loan reducing balance.

College/University Fee Loan

  • This loan is meant for college or university fees.
  • A member can take a loan of up to 4 times deposits held.
  • Repayment period: 24 Months.
  • Interest rate: 1% p.m on loan reducing balance.

Overview

Product Period Interest Rate
Development loan 72 months. 1% p.m on loan reducing balance
School Fees Loan 1 Calendar Year. 1% p.m on loan reducing balance
Emergency Loan 12 months 1% p.m on loan reducing balance
College/University Fee Loan 24 Months 1% p.m on loan reducing balance
Karibu Loan 36 months 1% p.m on reducing balance
BOSA Advance 1 Month 10%
Dividend advance 3 Months 10%
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