Kenya National Police DT SACCO offers Back Office Service Activity (BOSA) a wide range of products. This is where members personal accounts are maintained. Monthly deposits are pegged at 12% of Basic salary. All our loans are dispersed through POFOSA. Products at the BOSA include:-
Jumbo Loan
- Deposits Multiplier: Four Times of Deposits
- Guarantorship: Guarantors Required
- Loan Repayment Duration: 96 Months (8 Years)
- Salary Processing: Not a must to pass through FOSA
- Minimum BOSA Deposits: No minimum requirement for BOSA deposits
- Interest Rate : 15.6% per annum; (1.3% per month)
Bima Loan
- Deposits Multiplier : Four Times of Deposits
- Guarantorship : No Guarantors required
- Loan Repayment Duration : 10 Months
- Salary Processing : Not a must to pass through FOSA
- Minimum BOSA Deposits : No minimum requirement for BOSA deposits
- Interest Rate : 1% per month; (10% for the 10 months)
- Payment Point : Cheque to be written directly to the insurance
Premier Loan
- 84 Months repayment period
- 4 times member deposits
- Interest 15% p.a. on a reducing balance
- Monthly deposit contribution of 12% of the basic salary
Super Loan
- Repayment period is 60 months.
- 4 times member deposits.
- Interest rate is 14% on reducing balance.
Mega Loan
- Repayment period is 72 months.
- 4 times member deposits.
- Interest rate is 14.7% on reducing balance.
- Monthly deposit contribution of 12% of basic salary.
Normal Loan
- Repayment period is 48 months.
- 4 times member deposits.
- Interest rate is 12% reducing balance.
Refinancing Loan
- Repayment period is 48 months
- 4 times member deposits
- Interest rate is 12% reducing balance.
Emergency Loan
- Repayment period is 12 months.
- 4 times member deposits.
- Interest rate is 12% reducing balance.
School Fees Loan
- Repayment period is 12 months.
- 4 times member deposits.
- Interest rate is 12% reducing balance.
Muslim Loan
Available to Muslim members.
- 2 times members’ deposits.
- Repayment period is 48 Months
- No interest is charged on the loan.
- One off commission of 2.5% of the applied amount is charged.
- The member who applies for this loan is not eligible to get dividends
Muslim Emergency Loan
Available to Muslim members
- 2 times members deposits
- Repayment period is 12 Months
- No interest is charged on the loan.
- One off commission of 2.5% of the applied amount is charged.
- The member who applies for this loan is not eligible to get dividends.
Asset Financing Loan
The Sacco has partnered with various providers to help members purchase water tanks, solar panels and household electronic appliances.
- Repayment period is 24 months.
- 4 times member deposits
- Interest rate is 12% reducing balance
Salary Advance
Salary advances are available to members whose salary is processed through the POFOSA. There are 3 salary advance products and the include
M-Sasa
This product is repayable in 3 months duration and at interest rate of 2% per month
FOSA Flex
Is a product repayable in 6 months and at an interest rate of 3% per month
FOSA Golden
This is a newly introduced product, it is repayable within 9 months at an interest of 3.5% on reducing balance
FOSA Ultra
· Available to members channelling their salary through POFOSA
· 12 months repayment period
· 4% per month
Q-Cash
A maximum of KES 20,000 is available to all members who have deposits of KES 15,000 and above. The amount is repayable in one month and interest of 5% is charged at disbursement.
Dividend Advance
This advance is available to all members who received dividends the previous year. They can access up to 50% of their dividends. The SACCO charges 10% on the amount advanced.
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