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ISO Launch October 2015

 

Kenya Police Sacco offers Back Office Service Activity (BOSA) a wide range of products. This is where members personal accounts are maintained. Currently each member has minimum of 200 Shares valued at KES 100. Monthly deposits are pegged at 10% of Basic salary. All our loans are dispersed through POFOSA. Products at the BOSA include:-

 

1.      Super Loan

Repayment period is 60 months.

3 times members deposits.

Interest rate is 15% on reducing balance.

2.      Normal Loan

Repayment period is 48 months.

3 times members deposits.

Interest rate is 13.5% reducing balance.

3.      Refinancing Loan

Repayment period is 48 months

3 times members deposits

Interest rate is 13.5% reducing balance.

4.      Emergency Loan

Repayment period is 12 months.

3 times members deposits.

Interest rate is 13.5% reducing balance.

5.      School Fees Loan

Repayment period is 12 months.

3 times members deposits.

Interest rate is 13.5% reducing balance.

6.      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.

3 times members deposits

Interest rate is 13.5% reducing balance

7.      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

8.   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.