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IESA PRODUCTS | BOSA PRODUCTS

UBORA-IESA

Interest Earning & Savings Account(IESA) is a savings account where Loans are given against member’s savings (shares) subject to a maximum of 2.5 times amount of shares and must be fully guaranteed by active IESA members.
One must be a member of Ubora Sacco Society Ltd. Minimum monthly savings is Ksh. 200.00.
Interest on deposits is 5% p.a. on the closing balance computed monthly and is posted to members’ accounts twice a year (June and December).
Part-withdrawal of deposits is allowed after 90 days when there is no running loan.
The following products are available:

IESA Loan Products

IESA PART-WITHDRAWAL

  1.   o Part-withdrawal of deposits is allowed after 90 days
  2.   o Done when there is no running loan.
  3.   o Minimum balance after withdrawal is Ksh. 1,500

IESA NORMAL LOAN

  1.   o Maximum loan amount is Ksh.3,000,000.00
  2.   o Maximum repayment period is 60 months
  3.   o Interest is charged at 12% p.a or 1 % p.m on reducing balance

Emergency Loan

  1.   o Maximum loan amount is Ksh. 100,000
  2.   o Maximum repayment period is 12 months
  3.   o Interest is charged at 14.4% p.a or 1.2 % pm on reducing balance

Secong Emergency Loan

  1.   o Maximum loan amount is Ksh. 30,000
  2.   o Maximum repayment period is 12 months
  3.   o Interest is charged at 18% p.a or 1.5 % pm on reducing balance

TOP UP IESA Normal loan

  1.   o Maximum loan amount is Ksh.3million
  2.   o Maximum repayment period is 60 months
  3.   o Interest is charged at 12% p.a or 1 % p.m on reducing balance
  4.   o One-off interest is charged on outstanding loan at 5%. 
  5.   o One-off processing fee is charged at ksh.500.00

Top Up Emergency Loan

  1.   o Maximum loan amount is Ksh. 100,000
  2.   o Maximum repayment period is 12 months
  3.   o Interest is charged at 14.4% p.a or 1.2 % pm on reducing balance
  4.   o One-off interest is charged on outstanding loan at 5%.
  5.   o One-off processing fees is charged at ksh.500.00

How to apply

Duly fill and sign the IESA loan Application Form

Send to HR for Approval

Confirm guarantors and guaranteed amount

Attach your current pay slip

Incase of top up fill bridging form

Download Loan Application form   Download Bridging form