Page 36 - SACCO STAR ISSUE 43

Smart Life SACCO

PRODUCTS AND SERVICES

BOSA LOAN PRODUCTS: FOSA PRODUCTS

NORMAL /DEVELOPMENT: FOSA LOAN:
• Issued the 1st four days of every month • 1.2% p.m and payable in 12 equal monthly install-
• 2 months maturity period from the day of
ments.
submission • Members must channel salary through FOSA

EMERGENCY: SALARY ADVANCE:
• Issued for emergency cases only and duly accom- • 10% on amount taken repayable once on salary

panied with supportive documents receivable
• Members must channel salary through FOSA
FARM INPUT : • Only qualify half of your net salary
• Issued between the months of February and April • Available after 15th of every month

Every year SALARY IN ADVANCE:
• 15% on amount taken and repayable once from
COLLEGE/UNIVERSITY FEES
• Treated as development loan salary receivable
• Paid through cheque on trimester or semester • Available from 6th to 15th of every month
• One can still qualify for a salary advance if pay slip
basis
still allows
MICRO CREDIT
• 1.5 % p.m on straight line basis and payable in 12 CHEQUE ADVANCE:
• Payment on cheque deposits before maturity
months
DIAMOND ADVANCE
WOMEN ENTERPRISE: • Payable for 3 months
• Targeting women (unemployed) and as per Govt. • The salary must pass through FOSA section

Regulations and society’s credit policy

Mr. Haron Kipruto Biwot Smartlife SACCO C.E.O OTHER FOSA PRODUCTS AND SERVICES:

• Savings and Current Accounts with no ac-
count maintenance charges

• Salary processing at an affordable rate.
• Sale of bankers cheque
• Fixed deposit reserves(FDR) at reasonable

rates
• Cheque clearance
• Standing orders
• POS services (ATM)
• M-PESA services

Smartlife SACCO Society Limited
P. O. Box 118, Kapsowar- Kenya
Telephone: 053-361503 | Fax: 053-361523
Email: marakwetteachers@yahoo.com