NEW IMPROVED PRODUCT ALERT-(FOSA EMERGENCY 20)
- The interest rate to remain at 3% per month but on a reducing balance
- The processing fees to be 0.5% and the insurance at 1.8%
- The maximum loan limit to be KShs1,000,000
- A member will be eligible after a one-month contribution (the contribution can be recovered immediately after joining the Sacco)
- The loan is to be guaranteed by four guarantors for amounts below KShs 500,000 and six guarantors for the amount above KShs 500,000
- Amounts above 500,000 the member should have a share capital of 41,500
- Amounts below 500,000 the member should have a share capital of 20,750
- Deposits to be recovered from the amount applied to ensure the loan is within 3 times multiplier.
- FOSA should be the salary pay point or use an irrevocable standing order.
Comments
Loan repayment period
This is a amazing product. I only wish to know if the loan has a maximum repayment period. Thank you.
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Requet of loan
I just need 1,500 for abussiness
fosa 20
how about if you have another loan=normal 60
fosa emergency