Kencream SACCO

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Home BOSA LOANS

(1) UPESI LOAN

  • Available to active BOSA members.
  • Repayable within 54 months.
  • 2/3rd rule applies.
  • Granted 3 times BOSA savings.
  • Security guarantors and own deposits.

(2) SUPER LOAN

  • Available to active BOSA members.
  • Repayable within 60 months.
  • 2/3rd rule applies.
  • Granted 4 times BOSA savings.
  • Security guarantors and own deposits.

(3) DEVELOPMENT/NORMAL LOAN

  • Available to active BOSA members.
  • Repayable within 48 months.
  • 2/3rd rule applies.
  • Granted 3 times BOSA savings.
  • Security guarantors and own deposits.

(4) CAR LOAN

  • Available to active BOSA members.
  • Repayable within 48 months.
  • 2/3rd rule applies.
  • Granted 3 times BOSA savings.
  • Age limit of vehicle should not be more than 12 years – 1st registered 2005 and after
  • SACCO Financing up to 80% of valuation of the car and/or the sale agreement value whichever is lessor.
  • Have SACCO comprehensive Insurance Cover i.e C.I.C or any other prequalified insurer.
  • Original Logbook will be security for the loan and jointly registered
  • The Car should for Private use and not PSV.
  • Tracking devices must be installed
  • Multiplication factor 3 times the deposits.

(5) BIASHARA LOAN

  • Available to active BOSA members.
  • Repayable within 36 months.
  • 2/3rd rule applies.
  • Granted 3 times BOSA savings.
  • Security guarantors and own deposits.
  • In case of collaterals, the Valuation to be done by the SACCO pre-qualified valuers under the cost of the member. The
  • Sacco to finance up to the 80% of the valuation price and/or the sale agreement value whichever is lessor

(6) EMERGENCY LOAN

  • Available to active BOSA members.
  • Repayable within 12 months.
  • 2/3rd rule applies.
  • Granted 3 times BOSA savings.
  • Security guarantors and own deposits.

(7) SCHOOL FEES LOAN

  • Available to active BOSA members.
  • Repayable within 12 months.
  • 2/3rd rule applies.
  • Granted 3 times BOSA savings.
  • Security guarantors and own deposits.

(8) EXPRESS LOAN

  •  Available to active BOSA members.
  • Repayable within 5 months.
  • 2/3rd rule applies 
  • The Maximum amount applicable is Kshs50,000 subject to ability to repay.
  • Security salary and own deposits.

(9) KARIBU LOAN

  • This product is available to newly recruited NKCC staff and other staff from companies that we have checkoff system.
  • Repayable within 6 months.
  • 2/3rd rule applies.
  • Granted 3 times BOSA savings.
  • The Maximum amount applicable is Kshs50,000 subject to ability to repay.
  • Security guarantors and own deposits.

 

(10) WEEKENDER LOAN

  •  Available to active BOSA members.
  • Repayable in one month.
  • 2/3rd rule applies.
  • The Maximum amount applicable is Kshs10,000 subject to ability to repay.
  • Security salary and own deposits.

(11) BIMA LOAN

  • Available to active BOSA members.
  • Repayable within 6 months.
  • 2/3rd rule applies.
  • Granted 3 times BOSA savings.
  • Security guarantors and own deposits.
  • The payment is made directly to the Insurance Company.

(12) CONSUMER LOAN

  • Available to active BOSA members.
  • Repayable within 12 months.
  • 2/3rd rule applies.
  • Granted 3 times BOSA savings.
  • Security guarantors and own deposits.
  • The products will be sourced from selected suppliers.

BOSA SAVINGS PRODUCTS:

  1. SHARE CAPITAL: Every Member of the Sacco Contributes Gradually towards the share capital a minimum of Ksh.1500

  2. DEPOSITS– Minimum Ksh.1500 monthly

  3. CHRISTMAS SAVINGS–This is a voluntary saving plan for Christmas Holidays. It is withdrawable once at the end of the year and attracts a competitive interest rate of 10% p. a on weighted average. Minimum Contribution is Ksh.500.

  4. BENEVOLENT (INSURANCE RISK FUND)–Monthly Ksh.200

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