Bosa
Normal/Development Loan
Normal/Development Loan
Characteristics
1.Available to all members who meet the
requirements
2.Three times the deposit with the Society but
subject to repayment ability
3.Interest rate of 13% p.a on reducing balance
4.Repayable within 24-36 months
5.Kes 200 risk ManagementFee for loans less than Kes
20,000 and 1% for loans above Kes 20,001
6.Appraisal fee 1% on the loan amount
7. Transfer fee Ksh. 50
8.Maximum loan is ksh.20
million
Requirements
1. Must have been a member of the Society for at least 4 months
2. Maximum Six (6) guarantors subject to deposit pledged
3. Three times the deposit with the Society
4. The loan application form must be endorsed by the delegate/Chief or his/her representative
5.2/3 rule shall apply
6. Dully-filled application form