- A copy of National ID Card / Passport
- An ORIGINAL PAYSLIP not more than TWO months old.
- A fully filled OFFICIAL loan application form.
- The loan must be fully guaranteed.
Other conditions applicable
Prorata
This is a percentage of savings pegged on the amount of loan a member borrows. Prorata encourages a savings culture. Guess what?……………………………………..your next loan will be bigger than this current one because, prorata will enable you increase your savings and you will also enjoy a very good dividend percentage at the close of the financial year.
1. Minimum monthly share contribution applicable after loan approval is a percentage of the loan depending on one’s deposit balance as follows:
N/B: The above prorata factors have been suspended effective 1st September, 2022 to 31st December, 2022 for ONLY new major loan applications with a minimum monthly deposit contribution of KShs.2,000 in the interim.
2. Approved loans shall be paid through the FOSA account.
3. Members can qualify for all the above loan products at any given time provided that TOTAL OUTSTANDING LOANS SHALL NOT EXCEED FIVE TIMES A MEMBER’S DEPOSITS subject to the 1/3 salary rule.
