• WANANDEGE

    WANANDEGE

    Premier Financial Solutions provider

GET A BOSA LOAN

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WANANDEGE Savings and Credit Co-operative Society Limited was founded and registered on 22nd June, 1977 under the Co-operative Societies Act, Cap. 490. It is licensed under the Sacco Societies Act, Cap 490B to do Sacco Deposit Taking Business and is regulated and supervised by Sacco Societies Regulatory Authority (SASRA) The Sacco draws it membership from employees of Kenya Airways, related companies in the aviation industry, other non-aviation related companies and groups /individuals in business.

Low Interest Rates
100%
High Returns on Deposits.
85%
Lower Insurance Premiums
75%

FOSA

These are Front Office Service Activities; an investment of a society that is geared to providing more services/ products to members and managing competition from other Saccos and or Banks. more

BOSA

These are Back Office Service Activities, financial products offered against members deposits. These are traditional Sacco services where one saves and accesses the services... more

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Bosa loans

Development Loans

This is an option for those members that want to make improvements on their homes, acquire other property, or develop their farming land, the requirements for this loan are

  • It is granted for medium/long term investment purposes.
  • The loan is repayable in 48 hours.
  • Members require at least 3 months deposits before they qualify.
  • Interest on the loan is a 12% reducing balance.
  • This loan is also available for check-off members.

School fees Loans

This loan is provided for members to assist them to pay for their own, or their dependants school fees. Requirements for this loan are;

  • The loan is payable in 12 months.
  • The loan is available upon a members third deposit.
  • The interest on the loan is 12% reducing balance.
  • IThis loan is also available for check off members.

Emergency Loans

These loans allow members to pay for emergencies like hospital bills, burials and court cases, and the requirements are as follows;

  • Emergency loans are processed within 30 minutes of application.
  • The interest on the interest is 12% with a reducing balance.
  • Members are also required to fill a loan form.
  • Emergency loans of more than Ksh. 30,000 require documented evidence.
  • Security in the form of a guarantor or a members own deposits is also required.

Maisha Loan

The maximum amount that one can borrow in this category is capped at 2 million shillings..

  • Members qualify for this loan after 3 deductions received by the Sacco
  • The interest on the interest is 12% with a reducing balance.
  • Members are also required to fill a loan form.
  • Emergency loans of more than Ksh. 30,000 require documented evidence.
  • Security in the form of a guarantor or a members own deposits is also required.
  • Refinancing Loan

    A refinancing loan can help a member by replacing an existing debt under different terms, the loan is also a feature of the development loan and the qualifications for this loan are as follows;

  • The loan has a repayment period of 48 months.
  • To qualify for this loan a member should have made at least 3 deposits in the Sacco.
  • The loan carries an interest of 1% on reducing balance..
  • Emergency loans of more than Ksh. 30,000 require documented evidence.
  • Security in the form of a guarantor or a members own deposits is also required.
  • Star Loan

    The Star loan is a collateral based loan and not pegged on deposits

  • The loan is repayable in 72 months..
  • The applicable interest is 1.17% p.m. on a reducing balance..
  • The member applying for the loan should have the ability to pay or finance the loan.
  • Business Loan

    A business loan is a loan specifically intended for business purposes, at Wanandege Sacco to qualify a business loan a member has to fulfill the following requirements; .

  • This is a loan for business development to assist micro-credit members boost their business.
  • This loan is ideal for registered groups, individual business people, and registered companies.
  • One has to have transacted with Wanandege Sacco for at least 2 months.
  • The minimum amount of time for repayment of the loan is 3 months and it has a maximum time limit of 36 months.
  • The Loan amount is graduated based on repayable history, savings, consistency of servicing the loan, and Members deposit.
  • Applicable interest on the loan is at a rate of 14.5% straight line without a reducing balance.
  • BOSA APPLICATION REQUIREMENTS

    • Minimum six months consistent contributions.
    • Duly filled loan form.
    • Two original current pay slips.
    • Loan will attract appraisal of 2% and Insurance fee of 1% once processed.
    • Mode of payment check-off and standing order (Salaried).

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