Back Office Service Activity (BOSA) Products
Bosa Personal Loans
Key Features
- Loan Processing Fee 2%
- Low interest rates of 1% per month (6.5%p.a)
- Interest charged on Reducing Balance basis
- Loans deducted using fully Amortization Method
- Loan repayment period 6 – 84 months (7years)
- Fully paid up minimum Share capital
- Up to date MPS contribution
- Loan multiplier up to 5 times of long term deposits/spif shares
SPIF Loan
- Interest 1% on reducing balance
- Repayment: up to 36 months
- Processed immediately
- Must have SPIF share
Qwetu Smart Loan
- Interest 1% on reducing balance
- Repayment period 12 – 36 months
School Fees Loan
- Interest: 1% on reducing balance
- Repayment Period 6 – 12 months
- Processed immediately
Emergency Loan
- Interest 1% on reducing balance
- Repayment period 6 – 12 Months
- Processed immediately
Qwetu Super Loan
- Interest 1.25% on reducing balance
- Repayment period 37 – 72 Months
Qwetu Development Loan
- Interest 1.5% on reducing balance
- Repayment period 73 – 84 Months
- Minimum loan Kshs. 500,000
Preferential Loan
- Processed & disbursed immediately
- Repayment period 6 – 84 months (7 years)
- Interest rate for loan is 1% per Month on reducing balance.
- 100% capitalization of long term deposits interest for at least three years consecutively.
Other requirements: To increase Long-term contribution as follows
- Loan from KSHs 500,000 – KSHs 750,000. Minimum Monthly Contribution KSHs 3,500
- Loan from KSHs 750,000 – KSHs 1,000,000. Minimum Monthly Contribution KSHs 4,000
- Above KSHs 1,000,000. Minimum Monthly Contribution KSHs 5,000
Bosa Business Loans
MIcro SPIF Loan
- Interest 1.5% p.m. reducing balance
- Duration 6-48 months
- Minimum loan Kshs. 500,000
- Multiplier of *5 times
Wezesha Biashara Loan
- Interest 1% pm flat rate
- Duration 6-36 Months.
- Minimum loan Kshs. 300,000/=
- Multiplier of five* (5 times)
Micro Elimu Loan
- Loan multiplier of three (*3 )times
- Interest at 1.5% p.m.
- Repayment period 6 – 12 months.
Asset Financing
- Loan multiplier three (*3) times for the new members
- Loan multiplier five (*5)times for existing Members
- Repayment period 6 – 36 months
- Interest at 1.5% p.m.
- Co-ownership
- Asset financed becomes part of the Security of the Loan
Qwetu Biashara Loan
- Loan multiplier five (*5) times
- Loan repayment period 6 – 36 months
- Members save more than 8 weeks.
- Interest at 1.5% P.m
Kilimo Boresha Loan
- Loan multiplier five (*5) times
- Repayment period 6-36 months
- Loan appraised purely on Agri-business.
- Interest at 1.5% p.m.
- Members of the group save for at least 8 weeks
- Members co-guarantee each other.
- Maximum loan amount depends on the borrowing power of an individual.
Bosa Investment Products
Share Capitals
- Earns dividends annually
- Unit of ownership (100/= per share for a
- minimum of 150 shares)
- Voting rights (1 member, 1 vote)
- Attend & participate at members zonal meetings
- Transferable to new or existing members at a fee paid by transferee
Long Term Deposits
- Earns interest annually
- Act as loan security
- Act as BOSA check off loans multiplier
- Act as inheritance; next of kin paid *2
- Refundable after notice of 60 Calendar days and if freed from grantor ship
Micro Premiums
- Earns interest annually
- Act as loan Security
- Act as BOSA Business Loans Multiplier
- Act as inheritance; next of kin paid *2
- Refunded immediately after a notice and if freed from guarantor-ship
SPIF Shares
- Earns interest annually
- Act as loan Security
- Act as BOSA Loans Multiplier
- Act as inheritance; next of kin paid *2
- Refunded immediately after a notice and if freed from guarantor ship