Cosmopolitan Sacco has continuously served its members for the last 42 years having been registered in the year 1977. The main objective of the Sacco is to promote thrift amongst our members to accumulate savings thereby creating a source of funds from which the members can borrow at a fair and reasonable cost. This promotes economic and social welfare of the members and the community. The original members were teachers who formed and registered the Sacco under the name Nakuru Teachers Sacco CS/2675. Cosmopolitan Sacco rebranded in the year 2012 and opened the common bond to accommodate members from other sectors. Cosmopolitan Sacco is regulated by SASRA (Sacco Society Regulatory Authority) a deposit taking business since 2011.
Cosmopolitan Sacco has made it easy for members to make deposits into their accounts and repay loans easily through mobile banking
Here is how to use Cosmopolitan Sacco Paybill Number 973 100
- Go to Mpesa Menu
- Select Pay Bill from your M-PESA menu
- Enter Cosmopolitan Sacco Paybill Number 973 100
- Enter the Fosa account number
- Enter the amount you wish to pay
- Enter your M-PESA PIN
- Confirm details are correct and press OK
- You will receive confirmation message from Safaricom
Cosmopolitan Sacco Loan Products.
Bosa Loans
- Development Loan
- Maximum deposit holding times four Subject to 2/3 rule
- Repayment period within 48 months
- Interest rate of 1% on reducing balance
- Emergency Loan
- Maximum deposit holding times four subject to 2/3 rule
- Repayment period within 12 months
- Interest rate of 1% on reducing balance
- No supporting documents
- Instant on application
- Education Loan
- Maximum deposit holding times 4 Subject to 2/3 rule
- Repayment period within 18 months
- Interest rate of 1.25% on reducing balance
- Special Loan
- Maximum deposit holding times three subject to 2/3 rule
- Repayment period within 60 months
- Interest rate of 1.25% on reducing balance
- Makaribisho Loan
- Eligible for newly employed teachers
- Shares top up maximum to Kshs. 100,000
- Use new deposit balance to apply loan
- Repayment period within 48 months
- Interest rate of 1% on reducing balance.
- Premium Loan (Grant)
- Maximum deposit holding times 4
- Repayment period within 48 months
- Interest rate of 1% on reducing balance
- Repayment through FOSA
- Okoa Jahazi Loan
- Bailing members from other financial institutions
- Repayment period within 48 months
- Interest rate of 1% on reducing balance
- Boresha Loan
- Top up your shares in cash to a maximum of Kshs. 50,000 and get a loan 4 times your new deposit
- Repayment period within 48 months
- Interest rate of 1% on reducing balance
- Fanikisha Loan ( Top-Up)
- Society pays your previous loan and offers a new one
- Repayment period within 48 months
- Interest rate of 1% on reducing balance
FOSA products and services offered are as follows:–
- Salary Advance
- Salary advances (loan) is granted to customers who are employed and earn their salaries through FOSA.
- Customers with fixed deposit accounts qualify for this product too.
- A maximum of Kshs. 200,000/= can be granted within a day and repayable within 12 months.
- This advance attracts an interest of 15% p.a.
- Salary in-advance / Pensioners salary in-advance
- This advance (loan) is granted to a customer who earns his monthly salary/pension through FOSA.
- A customer can be granted maximum of Kshs. 15,000/= of his/her monthly salary,
- Recoverable within the same month.
- It attracts an interest of 5% of the advance requested.
- Pensioners salary in-advance
- This advance (loan) is granted to a customer who earns his monthly pension through FOSA.
- A customer can be granted 50% of his/her monthly pension but not exceeding Kshs. 5,000/=.
- It is recoverable within the same month.
- Interest rate is 5%.
- Class B members loans
- Eligible to class B members.
- Interest rate is 1% on principal.
- One gets a loan three times their savings
- Repay period is 18 months for the first loans but 32 months for subsequent loans
- Chama loans
- Eligible for groups.
- There be minutes authorizing issuance of the loan.
- Application signed by the signatories.
- Repay period is 36 months
- Interest rate is 1% on principal
Cosmopolitan Sacco Contacts.
Formore information regarding Cosmopolitan Sacco Paybill Number 973 100, or other services, contact the branches as follows.
The Chief Executive Officer
Cosmopolitan Sacco
P.O Box 1931, Nakuru
Telephone 051/2212415/6
Mobile: 0722-388616
Info@Cosmopolitansacco.Co.Ke
The Branch Manager
Naivasha Branch
Mobile 0700-470339
Biashara Street near Naivas Kubwa Supermarket
The Branch Manager
Bahati Branch
Mobile: 0700-470342
Next To District Headquarters
The Branch Manager
Molo Branch
Mobile: 0716-861224
The Branch Manager
Narok Branch
Mobile: 0717-546502
