Karibu Loan This is a new member’s loan product for salaried employees. The loan has a ceiling of Kshs. 500,000 for members with no FOSA deposits.
BOMA (BOSA One month Advance) This is an advance against a long-term loan on process. Amount granted are subject to administratively guidelines as revised from time to time. Loan is granted and repaid within a month and at a fee.
Loan Refinance This relates to all loans provided to a member who already has an existing loan for purposes of completing an existing project or business
Ability to repay is a key determinant.
Refinancing will be allowed once for the various loan product whose period is > 6 months
Loan is subject to additional fees.
Loan security is independent of security provided for the loan being refinanced.