Education Loans

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Details: Written by JUDITH MWONGELI; Category: BOSA Products; Published: 26 August 2021; Hits: 3343

FEATURES

Qualifying amount is 95% of a member’s unobligated/unattached deposits up to a maximum of KES. 20,000,000, subject to a third rule and contract period.
Interest rate is 11% p.a on the reducing balance basis
Repayment period of 84 months
The loan security is the member’s own deposits (no guarantors required)
Available to all members borrowing within their deposits not attached to any loan
Asset loan is excluded when considering the available deposits

Details: Written by JUDITH MWONGELI; Category: BOSA Products; Published: 22 October 2019; Hits: 10313

Purpose
The Emergency Loan is designed to address urgent needs and emergencies.

Features

The maximum amount one can borrow is 3 * Deposits up to Ksh. 1 Million.
The repayment period shall be a maximum of 12 months subject to contract period.
The loan shall attract interest rate of 12% per annum on a reducing balance basis.
The Security shall be the member's and guarantors' deposits.

Details: Written by Georgina Winters; Category: BOSA Products; Published: 24 October 2016; Hits: 4335

Available to members who have retired from formal employment.

Features

Details: Written by Georgina Winters; Category: BOSA Products; Published: 11 January 2017; Hits: 21251

This loan is designed for members who have been loyal to the UN SACCO for over 5 years.
Features

The amount borrowed is 3* Deposits up to KShs. 20 Million.
The repayment period is 60 months as long as a member has an employment contract whose period is over 6 months.
The loan shall attract interest rate of 12% per annum on a reducing balance.

Details: Written by Georgina Winters; Category: BOSA Products; Published: 24 October 2016; Hits: 4456

This loan is designed to help new staff members to settle down smoothly in their new stations of work.

Features

Member qualifies after first payroll deduction and raising minimum share capital of 50, 000 Kenyan Shillings.
Maximum loan is 3 times monthly basic salary up to a maximum of KShs. 1,000,000.
Interest rate is 14.5% per annum.
Repayment period is up to a maximum of 12 months or contract period whichever is shorter.