This article contains a list of Bandari Sacco loan products and branches and their merchandise.
Bandari Sacco was founded in 1975 as a deposit-taking Sacco. It was founded to serve Kenya Ports Authority, Kenya Ferry Services, and Kenya Maritime Authority personnel. Membership is now open to all industries.
The Sacco has enjoyed great financial development since its inception. It currently has about 10.01 billion in assets and over 16,000 members, making it one of Kenya’s largest deposit-taking Saccos.
This article explores a list of bandari sacco loan products, highlighting their key features, requirements, interest, and repayment terms.
List Of Bandari Sacco Loan Products
a) Credit Products
Loan Eligibility – General Requirements
- For at least six months, I dutifully saved and contributed deposits.
- Must be a fully paid-up member, that is, have the minimum share capital required by the Bandari Sacco by-laws.
- Loans are granted depending on a financial statement’s ability to pay.
1. Biashara Personal Loan
This loan product is intended to assist members who own small-to-medium-sized registered legal enterprises.
2. A one-month loan from BOSA
This is a loan advance against a long-term loan that is currently in the works. The loan is given and repaid monthly for a fee.
3. Emergency Loan
Members can use the loan facility to cover immediate necessities such as hospitalization, death, natural catastrophes, fire, robbery, or any other specified reason.
4. Asset Finance
This product is meant to assist members in acquiring assets of various types as specified in the collateral management policy. Land, automobiles, and machinery are examples of such assets.
All assets must have a legal form of ownership that can be verified.
5. One-Month FOSA Loan
This loan is paid back in one month using your monthly salary.