FOSA Loans include
|Overdraft||20,000 - 150,000||10 Months||6%||2|
|Advance||5,000 - 60,000||5 Months||6%||2|
|Short Period Advance||20,000||3 Months||6%||1|
|Share Booster||up to 100% of your deposit||Once upon loan approval||10%||Nil|
Common Conditions1. The loans are granted based on the ability to pay.
2. The current pay slip (Not a run) is a requirement.
3. Guarantorship by diamond members is not allowed.
4. Top-up is acceptable except for Utility and share-booster.
N/B: Fosa products are processed within eight (8) hours least for utility loan.
Two guarantors for Fosa loansOverdraft - It is repayable in 10 months. Minimum kshs. 20,000 and Maximum Kshs. 150,000.
Advance - It is repayable in 5 months. Maximum Kshs. 60,000 – two guarantors for non-KU members.
Short Period - It is repayable in 3 months. Maximum Kshs 20,000.
Karibu Loan - The loan is repayable in 6 months Maximum of kshs. 100,000. Can be granted even on the first month of the member joining the SACCO, only if he/her pay kshs, 3000 share capital and risk Kshs.300. interest rate 5% per month.
Jiinue Loan - The loan is repayable in 6 months Maximum of kshs. 60,000. interest rate 5% per month.
All are applied and granted within the same day.
Top-UpsMembers can apply for top-ups on all FOSA loans and emergency with a clearing fee of 4% on the balance.
Utility Loans>Repayment period is 12 months.
>Interest rate 2 % per month.
The utility loans include:
1. Car Insurance
2. Hot point Appliances
3. AA Driving Lessons
4. Mobile phones
6. Jikos & Solar products
ChequeAll cheques are payable to Kenversity Sacco Limited. Please indicate on the Cheque, your Membership Number/Id number and the allocation (e.g. to pay KES 60,000, indicate on the cheque, your membership Number- MNO.001-Deposit Kshs.10,000/-, Risk Management Fund Kshs.300/-, Normal Loan , KES 15,000/- and Super loan KES 34,800/-.
Banka. Co-operative Bank of Kenya Ltd Account Name: Kenversity Sacco Ltd Githurai Branch Account Number : 01120000563800
b. National Bank of Kenya Ltd Account Name: Kenversity Sacco Ltd Kenyatta University Branch Account Number : 01009059073700
c. M-pesa Paybill
CashA member can deposit his/her monies over the counter by cash or cheque at Kenversity offices at Kahawa office. Savings accounts:
1. Kenversity Savings Account (Kensa)
This is where your loan is channeled and withdrawal is made from this account. Requirement for opening Account:
A copy of Id
2. Kenversity Holiday Savings Account ( Kenjunior)
This account enables members to save for their children under 18 years.
No minimum deposit amount
No withdrawal charges.
Ledger fee kshs. 20 per month.
A minimum Account Balance of Kshs.3000 earns interest at the end of each month.