These are loan products offered at the Front Office Service Activity (FOSA) for members who are banking with the society.

MEDIUM-TERM LOANS

DEVELOPMENT LOAN (FORMERLY NORMAL LOAN)

  • To be approved based on eligibility.  
  • The loan granted 2 times the members premium savings
  • Minimum loan amount Ksh.100,000
  • Repayment Period is as follows:

Loan from Ksh.100,000- Ksh.399,999- 36 Months

Loan from Ksh.400,000- Ksh.999,999- 48 Months

Loan over Ksh,1,000,000-60 Months

  • Assessment is based purely on salary repayment ability/average monthly savings
  • To be guaranteed
  • Loan processing fee shall be as decided by the Board
  • Loan disbured within one week of application
  • Clearance from CRB (Credit Reference Bureau)

SCHOLAR PLUS LOAN

  • To be approved based on eligibility.  The loan to be granted plus the existing loans shall not exceed 2.5 times the members premium savings
  • Salary must be passing through the FOSA account
  • Repayment Period is 30 Months.  
  • Minimum allowable amount is Kshs. 41,000. Has no maximum ceiling.
  • Assessment is based on salary ability/average monthly savings

UFANISI LOAN

  • Available to all FOSA members with pay slips.
  • Granted 3 times one’s share
  • Repayment period is 48 months.
  • Pay slip should be able to meet the loan deductions and be left with 1/3 requirement.
  • Assessment based purely on salary repayment ability/ average monthly savings.
  • Salary must be passing through the FOSA account
  • Must be guaranteed
  • Clearance from CRB (Credit Reference Bureau)

SHORT-TERM LOANS

EMERGENCY LOAN

  • To be approved based on eligibility.  Loan must not exceed 2 times a members premium savings
  • Emergency Loans include all loans for taking care of all calamities e.g. hospital, settlement of civil cases etc.
  • Repayment Period is 12 Months. 
  • Assessment is based purely on salary repayment ability/average monthly savings
  • Must be guaranteed

SCHOOL FEES LOAN

  • To be approved based on eligibility.
  • Loan granted 2 times a members premium savings
  • Repayment Period is 12 Months.  
  • Assessment is based purely on salary repayment ability/average monthly savings

IMARIKA VIJANA LOAN

For youth between 18-34 years. At Imarika Sacco, we care about growth of young people. Introducing the Imarika Vijana loan, for young people in youth groups, so that they can build their businesses together or individually.

  • Open a Savings Account
  • Save regularly
  • Show us your business and business plan
  • Borrow between Kshs. 40,000 (when having 10,000/= shares)and Kshs. 100,000 (when having 20,000/=)
  • Repay in 24 months
  • One month grace period
  • Sacco Business Support to advice on the business

FOSA ADVANCES

PRESTIGE ADVANCE

  • Applicant must be an active member of the society.
  • Applicant salary must be passing through his/her SASA Account
  • Applicant must have serviced in full any outstanding advance.
  • Repayment period ranges from 7-10 months
  • Advances are considered on the spot but subject to availability of funds
  • Advances should be guaranteed by members of the society whose salary passes through the FOSA Account. 

ORDINARY ADVANCE

  • Applicant must be an active member of the society.
  • Applicant salary must be passing through his/her FOSA Account
  • Applicant must have serviced in full any outstanding advance.
  • Repayment period ranges from 1-6 months
  • Advances are considered on the spot but subject to availability of funds
  • Advances should be guaranteed by members of the society whose salary passes through the FOSA Account. 

ONE-MONTH ADVANCE

  • Applicant must be an active member of the society.
  • Maximum advance applied should not exceed 2/3 of net salary
  • Applicant salary must be passing through his/her FOSA Account
  • Applicant must not be servicing any advance.
  • Advances are considered on the spot but subject to availability of funds
  • The guarantor(s) must be receiving salary through the FOSA. 

ADVANCE TOP-UP

The society allow members to benefit by topping up the existing advance 

  • Applicant should have an outstanding advance balance
  • Maximum repayment period for the new advance balance is dependent on the advance type
  • Other conditions of the type of advance being topped up apply.