These are loan products offered at the Back Office Service Activity (BOSA) which forms the core activity of the society.

LONG-TERM LOANS

These are loans that run for over 36 months.  They are aimed at offering flexible repayment schedule to ease strain on the member.  They include:-

BOSA LONG-TERM LOAN

DEVELOPMENT LOAN (FORMERLY NORMAL LOAN)

  • Approval based on eligibility.
  • Granted 3 times one's share
  • Repayment Period is 60 Months. 
  • Assessment is based purely on salary repayment ability
  • Minimum loan amount Ksh.100,000
  • Loan processing fees shall be as decided by the Board
  • Must be guaranteed
  • Loan disbursed within one week of application
  • Clearance from CRB (Credit Reference Bureau)

SMART LOAN

  • Open to all BOSA Members
  • Approval based on eligibility. 
  • Repayment Period is 72 Months. 
  • Minimum of Ksh.100,000 in long term deposits
  • Loan ceiling of Ksh.5 Million
  • Assessment is based purely on salary repayment ability
  • Salary to pass through the Sacco
  • Must be guaranteed
  • At its discretion, the Sacco may consider other form of collateral
  • Clearance from CRB (Credit Reference Bureau)

KARIBU LOAN

  • Approval based on eligibility.  
  • Equivalent one month share contribution and a copy of the current pay slip.
  • Loan to be granted depends on salary ability ensuring 1/3 remains
  • Upon granting of the loan, a quarter of the loan granted is transferred to shares leaving the member with 75% of the loan to withdraw.
  • Karibu loan caters for new employees who want to start their life
  • Repayment Period is 48 Months. 
  • Loan processing fees shall apply
  • Clearance from CRB (Credit Reference Bureau)

MEDIUM-TERM LOANS

SCHOLARPLUS LOAN

  • Approval based on eligibility.  
  • Repayment Period is 30 Months.  Has a minimum amount of Kshs. 41,000 and has no maximum ceiling
  • Assessment is based purely on salary repayment ability

SWIFT LOAN

  • For BOSA salaried members only, recoverable at FOSA
  • Must be within the bracket of 3 times member’s shares
  • Applicant must retain1/6 of basic salary as net pay.   
  • Repayment Period is 36 Months.  Has no maximum ceiling.
  • The loan must be guaranteed  whose shares equates or surpasses the loan requested.

SHORT-TERM LOANS

EMERGENCY LOAN

  • To be approved based on eligibility.  
  • Repayment Period is 12 Months. 
  • Assessment is based purely on salary repayment ability

SCHOOL FEES LOAN

  • To be approved based on eligibility.  
  • School fees Loans include all loans to cater for education fees. 
  • Fees structure must be attached to the application form
  • Repayment Period is 12 Months.  
  • Assessment is based purely on salary repayment ability