Advances

Cheque Advance

Target: A member who needs to access funds before maturity of the Cheque i.e. after 3 days (excluding the day the member deposits the Cheque, the day the Sacco deposits the Cheque in the bank for clearance and weekends.)

Terms and conditions

  • Interest rate of 5% flat rate
  • In case of a bankers cheque no guarantor is needed, only a witness is required
  • In case of a personal cheque, three guarantors and a witness are required to sign.
  • Upto 50% of the amount of the cheque can be granted on personal cheque and 70% on banker’s cheque.
  • Form fee Kes100/=

Cessation advance (BOSA Account Dormancy advance)

 Target: Members who have applied to be refunded their non-withdrawable BOSA deposits but they are yet to mature i.e after 60 days.

 Terms and conditions:

  • Member must have filled cessation form at BOSA
  • No guarantors
  • Only a witness in required

Loan Advance

Target: Members who have urgent finance needs using BOSA loan and yet his/her turn to be served is not due.

Terms & conditions

  • Advance against Bosa loan
  • No appraisal fee
  • Repaid when the loan is disbursed
  • No guarantors

Advance 1

Target: Members who are not active BOSA members but need funds to finance emergency issues.

Terms and conditions:

  • Salary must be received through FOSA
  • Copy of current pay slip or bank statement for computation of disposable income
  • 4 guarantors
  • Maximum amount kes.30,000/=

Advance 3

Members who wish to repay credit facility for not more than 3 months.

Terms and conditions:

  • Salary must be received through FOSA
  • Must be an active BOSA member
  • A copy of current pay slip or bank statement for computation of disposal income
  • Repayable in 3 months
  • Maximum amount kes.60,000/=
  • 4 guarantors

Advance 6

Members who wish to repay credit facility for not more than 6 months

Terms and conditions:

  • Salary must be received through FOSA
  • Must be an active BOSA member
  • Maximum amount kes.90,000/=
  • Repayable in 6 months
  • A copy of current pay slip or bank statement for computation of disposable income
  • 4 guarantors

Pension Advance

Target: Retirees awaiting processing of their Lumpsum payment.

Terms and Conditions:

  • Retirement letter
  • Must have indicated in the form that pension will pass through TNT FOSA
  • Last pay slip
  • Last copy of Id
  • An affidavit from lawyer to show that he/she retired and he/she has authorized pension Department to channel his/her pension through Trans National Times Sacco Ltd.
  • Class “A” guarantors.
  • Limit of 75% of pension lump sum
  • Form fee kes.100/= 

  Dividend Advance

  Target:  Members who wish to be paid part payment of dividends before the date of payment

  Terms and Conditions

  • Must be a BOSA member
  • No guarantors
  • Repayable once dividends are disbursed.

  Product advance

  Target: Members who wish to acquire modern gadgets e.g. smart phone, tablets, laptops, solar equipment, etc.

  • Salary passing through TNT FOSA
  • Must be an active BOSA member
  • Repayable in 12 months.
  • A copy of current pay slip or bank statement for computation of disposable income
  • Four guarantors.