Boresha SACCO – BOSA Loan Application

COSA Loan Application and Agreement

Please fill this form carefully in CAPITAL LETTERS. This application will be reviewed by our Credit Officer and Committee — you'll be notified of the outcome. Use the Next / Back buttons to navigate between sections.

Have these ready before you apply (attach copies when you submit hard copies to the branch):

National ID card copy
KRA PIN certificate
Three (3) original latest pay slips

Application Date

County

Sub-County

Loan Type

Select the loan product you are applying for

NB: Product eligibility above is a summary — final eligibility is confirmed by the Credit Officer during appraisal.

A. Personal Information

Member's Name (as it appears on National ID)

Membership No.

ID No.

Date of Birth

KRA PIN No.

Cell No.

Employee No.

E-Mail Address

Home Address

Employer / School Details

Employer

Employer Address

School / Department

School / Department Address

Existing Loan Outstanding (Ksh)

...as at end of (Month)

B. Loan Application & Repayment

Loan Amount Requested (Ksh)

Amount in Words

Repayment Period (Months)

Repayment Commencing (Month/Year)

Pay slip months attached

PDF only · Max 5 MB

Purpose for which the loan is applied

C. Security Which I Offer for the Loan

Tick all that apply

Repayment Guarantee: Guarantors

List members who agree to jointly and severally guarantee repayment of this loan (up to 8).

#	Full Name	Member No.	Payroll No.	Address & Tel No.	Amount Pledged (Ksh)
1

NOTE: Guarantors' own signatures are collected on the physical copy of this form.

Document Uploads

National ID Card Copy

JPG, PNG or PDF · Max 5 MB

KRA PIN Certificate

JPG, PNG or PDF · Max 5 MB

Passport-size Photo (optional)

JPG or PNG · Max 5 MB

Three (3) Original Latest Pay Slips

Pay Slip 1

JPG, PNG or PDF · Max 5 MB

Pay Slip 2

JPG, PNG or PDF · Max 5 MB

Pay Slip 3

JPG, PNG or PDF · Max 5 MB

NB: Loan Forms not properly filled or missing required attachments will not be considered.

D. Declaration

Full Name

Date

I hereby declare that the foregoing particulars are true to the best of my knowledge and belief and agree to abide by the By-Laws of the Society, the Loan Policy and any variations by the Credit Committee. I hereby authorize the necessary deductions, including prevailing interest, to be made monthly from my salary as repayment for this loan. I declare that I am not indebted to any other Credit Society, Bank or Loan agency except as listed herein either as Borrower or Endorser. I also declare that in case the Employer delays the deductions, I will pay personally to the SACCO's Bank/FOSA Account every month to avoid Accrued Interest until action is taken by the Employer. In the event I default in servicing this loan, the SACCO reserves the right to share my credit information with other financial institutions, public authorities and licensed Credit Bureaus (CRB), subject to applicable law.

Applicant Signature

Draw your signature above using your mouse or finger

Loan Rules and Policy (Summary)

To qualify for a loan, the Member must hold Share Capital and be contributing Savings every month. Total Loans will not exceed three to four (3–4) times the Savings/Deposits held by the Member.
No Member will be permitted to suffer a Total Deduction which exceeds 2/3 (66%) of Basic Salary — the Employer demands a "Net Take Home" of 1/3 of Basic Pay per month.
Loan Forms not properly filled will NOT be considered but returned to the Member for corrections. Attach 3 Original Latest Pay Slips and photocopies of ID, KRA PIN, supporting documents, and certification duly signed by Authorised Persons.
Guarantors must state the amount pledged and sign. A guarantor should not guarantee three (3) loans at any given time, and will not be allowed to withdraw/resign from the SACCO unless they find another guarantor to replace them.
All payments will be through the Front Office — FOSA/SASA Accounts — which should be indicated in this form.
All Loans, Withdrawals/Refunds are approved fortnightly and monthly by the Authorized Committee.
Processing of Loan Application Forms is done daily and weekly by the Loans Officer.
Only qualifying Loan Forms will be registered and processed. The Member will be notified of the outcome of the loan application, whether successful or unsuccessful.
All Loans will be repaid separately. Where the same rate or a Top-up applies, the Refinance Policy will be used instead.
A guarantor to a defaulter shall not be eligible for a loan unless the amount in default has been fully cleared.
Product-specific eligibility criteria and maximum repayment periods are shown above once you select a Loan Type.
In the event of default in servicing this loan, the SACCO reserves the right to share credit information with other financial institutions, public authorities and licensed Credit Reference Bureaus (CRB), subject to applicable law.

I have read, understood, and I agree to abide by the Loan Rules and Policy of Boresha SACCO Society Ltd. *

You will receive a reference number upon successful submission.