Chuna Sacco Loans, how to apply, charges and amount

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Below is a list of loans by Chuna Sacco, how to apply, charges and the amount to be awarded:

FOSA PRODUCTS

SALARY IN ADVANCE

Ksh. 60% of Basic Salary  / Payable in 12 months

  • Maximum loan amount is 60% of Member basic Salary
  • Member salary must pass through FOSA for at least 12 months
  • Recovered within a month
  • A third rule is applicable
  • Interest rate is charged at 10% upfront
  • Processed within a day

SALARY ADVANCE

Ksh. 80% of Net Salary  / Payable in 1 month

  • Salary must pass through FOSA at least once.
  • Loan recovered within a maximum of one (1) month.
  • Loan secured by guarantors.
  • Commitment letter from employer
  • Processed within a day

FOSA LOAN/ADVANCE

Ksh. 300,000 max  / Payable in 12 months

  • Third rule apply
  • Not pegged to deposit contribution but on salary
  • Maximum repayment period is 12 months
  • A third rule is applicable
  • Effective interest rate is charged at 13% P. A
  • Processed within a day
  • Able to top-up

EMERGENCY LOAN 20 MONTHS

Ksh. 300,000 Max  / Payable in 20 months

Other Features

  • Interest rate of 3% per month amortized
  • Turn-around time is one day
  • Third rule apply

KARIBU EMG LOAN

Ksh. 100,000 Max  / Payable in 12 months

  •  Designed for new Sacco members.
  • A third (1/3) of the loan is deducted as deposits and ksh.5000 share capital
  • Maximum repayment period is twelve (12) months.
  • Maximum amount is ksh.100,000
  • Loan must be fully secured.
  •  Competitive interest rate.

Bosa Products

Back Office Products Available for you

EMERGENCY LOAN 6 MONTHS

Ksh. 300,000 Max  / Payable in 24 months

  • Minimum net pay of Kshs 5,500.00 after disbursement
  • Member salary must pass through FOSA
  • Maximum repayment period is 6 months
  • Interest rate is charged 10% upfront
  • Processed within a day

EMERGENCY LOAN 12 MONTHS

Ksh. 300,000 Max  / Payable in 36 months

  • Maximum repayment period is 12 months
  • A third rule is applicable
  • Effective interest rate is charged at 12% p. a
  • Processed within a day
  • Able to top-up

EMERGENCY LOAN 20 MONTHS

Ksh. 300,000 Max  / Payable in 20 months

  • Maximum repayment period is 20 months
  • A third rule is applicable
  • Effective interest rate is charged at  p. a
  • Processed within a day
  • Able to top-up

SCHOOL FEES LOAN

Ksh. 300,000 Max  / Payable in 60 months

  • Maximum repayment period is 12 months
  • A third rule is applicable
  • Effective interest rate is charged at 12% P. A
  • Processed within a day
  • Able to top-up

JIJENGE LOAN 72 MONTHS

Ksh. 6,000,000 Max  / Payable in 72 months

1.  Deposits Multiplier: 3 (three) times 

  • Must have been a member for at least three months.  
  •  Fully filled Jijenge Loan application form.
  •  Latest pay slip
  •    CHUNA FOSA being your monthly salary pay point

NORMAL 60

Ksh. UP to 6million  / 60 Months

Application must be made on the official loan form fully completed and appropriately signed by both the Loan Applicant and Guarantor(s) in their own handwriting.

The Loan Applicant MUST attach an original pay slip (not more than one month old to the date of application).

. Loans are granted in accordance with the loan policy and lending conditions existing at the time of application. 

More details on the loan form.

NORMAL LOAN (24 MONTHS)

Ksh. 1,000,000 Max  / Payable in 24 months

Application must be made on the official loan form fully completed and appropriately signed by both the Loan Applicant and Guarantor(s) in their own handwriting.

The Loan Applicant MUST attach an original pay slip (not more than one month old to the date of application).

. Loans are granted in accordance with the loan policy and lending conditions existing at the time of application. 

More details on the loan form.

NORMAL (36 MONTHS)

Ksh. 3,000,000 Max  / Payable in 36 months

Application must be made on the official loan form fully completed and appropriately signed by both the Loan Applicant and Guarantor(s) in their own handwriting.

The Loan Applicant MUST attach an original pay slip (not more than one month old to the date of application).

. Loans are granted in accordance with the loan policy and lending conditions existing at the time of application. 

More details on the loan form.

NORMAL (48 MONTHS)

Ksh. 6,000,000 Max  / Payable in 48 months

Application must be made on the official loan form fully completed and appropriately signed by both the Loan Applicant and Guarantor(s) in their own handwriting.

The Loan Applicant MUST attach an original pay slip (not more than one month old to the date of application).

. Loans are granted in accordance with the loan policy and lending conditions existing at the time of application. 

More details on the loan form.

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