36th Annual ADM Resolutions 2017
DIVIDENDS AND INTEREST ON DEPOSITS RATE FOR THE YEAR 2016
The dividends for the share capital (kshs 20000) shall be paid at 12.5% and interest on deposits at 7%.
MONTHLY DEPOSIT CONTRIBUTION
Monthly deposit contribution will be a minimum of kshs 2,000= or 5% of applicant’s basic salary, whichever is higher.Members were encouraged to raise their deposits contribution above stated minimum in order to increase their borrowing power and earn more dividends and interest on deposits.
BOSA Products Revised Rates and lending Requirements
TOP UP LOAN
- Repayment period is up to 36 months.(PREVIOUSLY 30 MONTHS)
- It attracts interest at the rate of 1.5 % per month on the reducing balance (9.75% per annum).
- Top up loan will be as per the borrower’s ability to pay.(PREVIOUSLY 25% OF THE DEVELOPMENT LOAN)
- The multiplier will be four times the deposits.(PREVIOUSLY FIVE TIMES)
- Emergency loan may have document evidence (PREVIOUSLY MUST HAVE )
- Every member shall be entitled to only one emergency loan not exceeding Kshs.300,000= at a time.(PREVIOUSLY 200,000)
- Repayment period shall be within 18 months. It attracts interest at the rate of 1% per month on the reducing balance (6.5% per annum).
SCHOOL FEES LOAN TWO
- The maximum amount shall be kshs 250,000
COLLEGE AND UNIVERSITY FEE LOAN ONE
The maximum amount shall be kshs 1000,000.
COLLEGE AND UNIVERSITY FEE LOAN TWO
- It attracts interest at the rate of 1.5% per month on the reducing balance (9.75% per annum).
- The maximum amount shall be kshs 500,000.
- This will be accessed by newly employed officers who are less than 12 months old in employment (members) who require support to settle in their new employment.(PREVIOUSLY 6 MONTHS)
- Repayment period shall not exceed 24 months. (PREVIOUSLY 36 MONTHS)
- Interest rate will be 1% per month on reducing balance (6.5% per annum).
- Maximum repayment is 12 months (PREVIOUSLY 15 MONTHS).
- Interest rate is 2% month on the reducing balance (13% per annum).(PREVIOUSLY 2.5% PER MONTH)
- Maximum amount shall be Kshs. 75,000 /=.(PREVIOUSLY KSHS 50,000)
- The rate of interest is 2% per month on reducing balance (13% PER ANNUM).(PREVIOUSLY 3% PER MONTH)
- Maximum amount shall be KShs. 50,000 /=.(PREVIOUSLY KSHS 30,000)