Loan Products | Unison Sacco Society Ltd

Loan Products

The following constitute loan products for the Society:

Products	Interest Rate	Repayment Period (Months)
Normal Loan	1% pm reducing balance	Maximum loan qualification 3 times of shares Loan period shall not exceed 48 months A third basic rule applies Must be guarantee by at least four members in good standing Cannot hold two loans at one time
School fees loan	1% pm reducing balance	Maximum loan qualification 3 times shares Maximum loan ability to service subject to a third basic salary rule Loan period shall not exceed 12 months Cannot hold two loans at one time
Emergency loan	1% pm reducing balance	Maximum loan qualification 3 times shares Maximum loan ability to service subject to a third basic salary rule Loan period shall not exceed 12 months Must be guaranteed by at least three members in good standing Cannot hold two loans at one time
Development Loan	1.17% pm reducing balance	Repayment period 60 Months Minimum deposit of Kshs 250,000 Multiplier 4 times Subject to 2/3 rule
Preferential Loan	1% pm reducing balance	Open to members who plough back the interest on deposits & dividends in full for 3 continuous years 4 times deposits Repayment period 60Months Subject to 2/3 rule

Loan Type	Interest Rate	Repayment Period (Months)	Features
Salary In Advance	5% flat rate	One Off-On salary posting	Salary received through Fosa last 3 consecutive months Maximum of 70% of expected salary Interest charged on disbursement
Salary Advance	5% p/m reducing balance	6 months	Salary received through Fosa last 3 consecutive months Maximum of Kshs.300,000. Above Ksh 100,000 subject to negotiation fee and a tripartite agreement with the employer
Dividend Advance	10% flat rate	On dividend payment	Maximum 50- 75% of expected dividends Subject to approval by the BOD Must have no arrears in loan repayment
Fosa short Terms Fosa Flex & Express	1.27% per month	12	Salary passing through Fosa Must hold non-withdraw able deposits not less than 25% of applied loan considering all other loans Subject to 2/3 rule No maximum limit
Settlement Loan	1.27% per month	12	Salary to be channeled through Fosa Part of loan approved capitalized ( to meet minimum share capital requirement) Maximum loan Kshs.40,000 Must register for membership Provide certified letter of appointment, posting, recommendation letter from Head teacher & any other document as may deem fit
Personal Loan	1.5% reducing balance	36	Multiplier of 4 times deposits Subject to 2/3 rule Maximum limit of Ksh. 50,000
Fosa Prime Loan	1.5% reducing balance	72	Multiplier of 4 times deposits Subject to 2/3 rule
Fosa & Normal Loan Advance	One off Interest Charge	On loan disbursement	Advance only on approved loans awaiting disbursement A charge of 10% applicable if advanced before loan maturity
Fanikisha loan	1.5% reducing balance	60	Multiplier of 4 times deposits Subject to 2/3 rule

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