Cosmopolitan Sacco Paybill Number 973 100

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