Airports Sacco Limited
Airports Sacco Limited
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1. What do I need when applying for a loan?

  • Fully completed loan application form
  • Two current original pay slips, MUST be attached to the application form.
  • A copy of an acceptable form of identification (National ID/Valid Passport) MUST be attached to the application
  • Must have been an active member for at least six months

2. Must I have guarantors when applying for a loan?

All loans granted by the society must be guaranteed by at least three members of the society. Guarantors’ and applicants shares MUST be equal to or more than the loan applied for. In the case of loan application through FOSA your pay slip will act as the security.

3. How much loan can I qualify for?

The maximum loan amount a member can be given at any one time is three times the member’s savings . A member must take home at least a third of his/her pay after all deductions.

4. Can I apply for more than one loan?

A member is allowed to take all the loan products on offer so long as total loans repayments do not exceed two thirds of the member’s salary and three times the member’s savings. has guaranteed to seek for guarantor replacements.

5. If I clear a loan before its completion date will I be required to pay interest for future periods?

No interest but early repayment fee of 10% will be charged on the balance on all FOSA loans and 3% on all BOSA loans.

6. What do I need to do when withdrawing from the society?

  • A member needs to inform the society of his intention to withdraw by writing a letter addressing it to  the board of directors.
  • A notice of sixty days is required in case of any refunds due to the member.
  • A member needs to inform all loanees that he has guaranteed to seek an alternative guarantor.
  • The withdrawal process takes 60 days.

7. When Am I eligible for a loan?

After being a member for at least six months and have contributed for a minimum of kshs.12, 000

8. Can I pay extra amounts outside payroll?

A member can pay any amounts he desires into the society’s bank account at his own convenience The original deposit slip or copy of the transfer instruction in the case of electronic transfers should be delivered to the SACCO.

9. Can I boost my deposits and take a loan immediately?

All monies paid outside payroll for boosting deposits must stay in the society for at least three months to qualify for loans.