BOSA Products Information

Kenversity has endeavored to provide financial facilities to its members through various loans. These include Normal loan, Super loan, Emergency loan and School fees loan as shown below:

Normal Loan

Granted 3 times member's deposits. It is repayable in 48months. Interest rate is 12% p.a. reducing balance. Three (3) guarantors required for Kenyatta University members on permanent employment and 5 guarantors on those on contract and other institutions. Members qualify to apply after 6 months of membership. Top Up after 6 Months of application. Granted within 30 days of application.

Super Loan

Granted 3 times member's deposits. It is repayable in 60 months. Interest rate is 15% p.a. reducing balance. Three (3) guarantors required for Kenyatta University members on permanent employment and 5 guarantors on those on contract and other institutions. Members qualify to apply after 6 months of membership. Top Up after 6 Months of application.Granted within 30 days of application.

Emergency Loan

This is a loan provided for urgent cases e.g. College fee, Medical expenses Funeral. This is a loan given 3 times of your deposits. It is repayable in 12 months. Interest rate is 18% p.a. at reducing balance. Three (3) guarantors required for Kenyatta University members on permanent employment and five (5) guarantors on those on contract and other institutions. Can be topped up. Granted within 8 hours of application.

Fahari Loan

Monthly deposits contribution shall be Ksh. 3,000, interest rate 16% per annum, at least five (5) guarantors, repayment period is 84 months, with a maximum of Ksh. 4,000,000 after being a member of the Sacco for at least 6 months. One will be eligible for top up after 12 months. Target group - Platinum A and Platinum B. Salary to be channelled through the Kenversity Sacco Ltd. Processing fee of 2% of the loan shall apply, 1/3 Rule of the Basic salary to apply. New members must retain 10% of the loan as deposits, the loan is not pegged on deposit but on salary

School Fees Loan

This is a loan provided to aid parents/ guardians pay school fees for their dependants. Granted 3 times member's deposits. It is repayable in 12 months (A calendar year). Interest rate is 12% p.a. at reducing balance. Three (3) guarantors required for Kenyatta University members on permanent employment and 5 guarantors on those on contract and other institutions. The appraisal of the loan is based on the school fees structure. Remember to check circular of school fees application in the month of November every year for the requirements.

Share Booster Loan

To help you get a bigger loan, we increase your deposits by up to 100% of your deposit. The boosting facility will be credited to your member account. This amount will be eligible to earn interest on deposit at the end of the year. Interest charge on boosted amount at 10% (one off).

Land and building Loan

Granted up to 5 times a members’ deposits but up to 5 million. Interest rate of 16% per annum, repayment period of 72 Months. 5 guarantors needed. Monthly deposits is Ksh. 3,000. Land and building to be secured upto 70%. Salary must pass through Kenversity. Charges 2% of the applied amount as processing fees.

Motor Vehicle Loan

Interest rate of 16% per annum, repayment period of 24 Months. Cars be secured at 50%. Down payment of 1/3 of the cost price for motor vehicle. Motor vehicle not more than 8 years old.Log book to be used to secure loan up to a maximum of 2 million.

Maendeleo Loan

Granted 4 times of deposits, a third (1/3) of the basic salary must be maintained,Minimum contribution of shares be Kshs.3000. Interest rate of 16%. Repayment period 36 Months. No top up for this loan, Atleast 5 guarantors. Processing fee 2%.

Diamond Loan

Granted 3 times member's deposits, interest rate of 13.5% per annum, repayment period of 24 Months. To be guaranteed by 5 members within a cell group.

Boresha Loan

Granted 4 times member's deposits, interest rate of 13% per annum flat rate, repayment period of 60 Months and a processing fee of 2% of the loan amount.

Top Ups

Members can apply for top-up on all FOSA Loans, Emergency Super, Normal Loans and will be charged a clearence fee of 5% on the outstanding balance. Members can also apply for kenversity loan to clear externals e.g. Bank Loans. A clearence fee at 5% will be charged.

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