This is a product targeting the members with houses for rentals. To qualify for this product one must ensure that the rental proceeds are channeled through an account at TRANS NATION SACCO LTD. The proceeds must be paid directly to TN account by the tenants, NB not the landlord.

Operations
1. Ones shares at BOSA will be used as a basis of determining how much one will qualify.
2. Loan will be paid on monthly basis for those houses which are paid per month and three times per year for those which are paid per semester. However, interest will be paid every month.
3. FOSA statement at Trans Nation Sacco ltd will be used when appraising the loan.
4. This loan will be paid at an interest of 1.208% per month on reducing balance basis.

 
Loan Appraisal:

• Maximum Multiplier is *6 of shares
• The loan is repayable in 60 months

Qualification.
1. The loan will be three times your BOSA deposits. NB existing members can use their BOSA deposits if they are not fully committed by the current loan.
2. Half of monthly rent proceeds will be used in determining ability to pay the loan.
3. This loan will be supported by charged assets mostly land. The amount qualified must not exceed 70% of the value of the asset.
4. One must have operated the tenant’s account for at least 6 months.