Ukulima Co-operative House.
Haile Selassie Avenue

 

cally Call Us
 020 – 2785000
maily Email Us
info@ukulimasacco.coop

 

 

 

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These loans are only granted to members whose salaries are remitted through their FOSA Savings Accounts. Below are the various loan products available;

1. FOSA DAIMA LOAN

  • Loan is a long term loan granted for investment and development purposes.
  • Maximum loan term of 60 Months.
  • Amortized Loan Repayments - Equal Monthly Repayment Installment which consists of Principal and Interest.
  • Interest - Monthly amortization at 1.2%.
  • It is based on net salary as per the pay slip.
  • One off processing fee and insurance fee of 0.5% and 0.6% respectively on approved loan amount.

2. FOSA FLEX LOAN

  • Loan is a long term loan granted for investment and development purposes.
  • Maximum loan term of 48 Months.
  • Amortized Loan Repayments - Equal Monthly Repayment Installment which consists of Principal and Interest.
  • Interest - Monthly amortization at 1.2%.
  • It is based on net salary as per the pay slip.
  • One off processing fee and insurance fee of 0.5% and 0.6% respectively on approved loan amount.

3. FOSA FAHARI LOAN

  • Loan is a long term loan granted for investment and development purposes.
  • Maximum loan term of 48 Months.
  • Amortized Loan Repayments - Equal Monthly Repayment Installment which consists of Principal and Interest.
  • Interest - Monthly amortization at 1.0%..
  • It is based on net salary as per the pay slip.
  • One off processing fee and insurance fee of 0.5% and 0.6% respectively on approved loan amount.

4. MAHITAJI LOAN

  • A one month advance based on net salary recoverable once at 1.7 % interest. One off processing fee and insurance fee of 0.5% and 0.6% respectively on approved loan amount.

5. MAHITAJI MOBILE LOAN

  • Mobile based Loan of upto Kshs 50,000/- advanced to members who remit their salary through Fosa and is based on member’s net salary. Loan recovered from subsequent salary through Fosa. Active members with non-salaried Fosa Accounts can also access the loan upto a restricted maximum of Kshs 10,000/- based on gradual scoring and repayable within one month.
  • 6.5% upfront Interest.

6. BIMA LOAN

  • This is a loan to finance members pay for their insurance premiums.
  • Loan term is 12 months. Interest calculation based on monthly amortization.
  • Interest is amortized at 1.2% per month.

7. SHARES INVESTMENTS LOAN

  • This loan is to finance members who wish to buy shares at the Nairobi Securities Exchange.
  • Loan term is 12 months.
  • Interest calculation based on monthly amortization.
  • Interest rate is 1.75% on reducing balance per month.

8. DIVIDEND ADVANCE

  • An advance based on a member’s projected dividends.
  • Recoverable once upon dividend payment.
  • 10% One off upfront Interest

NB: All FOSA Branches can also process any of the BOSA Loans upto a maximum of Kshs 700,000/-.


OTHER SERVICES APPLICABLE TO ALL LOANS
Loan Top-up Service (Daraja Loan)

  • This refers to any new loan meant to clear any other outstanding loan balance(s).
  • Commission of 3% is charged on the amount cleared.

Deposit Boosting Service (Hisa Loan)

  • Granted to boost Bosa deposits for purposes of accessing any loan.
  • Granted to a maximum of 100% of a member’s deposits but not exceeding Kshs 750,000/=;
  • Commission of 15% is charged on the deposits amount purchased.
  • One off recovery upon loan disbursement.

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We have large range of financial solutions that will meet your needs.

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Find Us

Ukulima Co-operative House, Haile Selassie

Avenue Off Parliament Road, Red Cross Lane

P.O. Box 44071 – 00100, NAIROBI

Call Us

020 – 2785000
+254 0720 - 179 - 991 or
+254 0735 - 886 - 565

 

Email Us

info@ukulimasacco.coop

© 2021 UKULIMA SACCO