Cosmopolitan Sacco Paybill Number 973 100

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

Background of Cosmopolitan Sacco.

Cosmopolitan SACCO was started in the year 1977 under the name Nakuru Teachers SACCO to cater for savings and credit needs of teachers in Nakuru District. 

It started with a membership of only 46 members.

At the beginning of 2012 the society adopted the name Cosmopolitan Sacco to accommodate its diverse categories of membership.

Cosmopolitan Sacco has a membership of 10565 members with a share capital of over Ksh 2.2 billion  and an asset portfolio of over Kshs. 3.3 billion.

Cosmopolitan Sacco Loan Products.

Bosa Loans

1.      Development Loan

·        Maximum deposit holding times four Subject to 2/3 rule

·        Repayment period within 48 months

·        Interest rate of 1% on reducing balance

2.      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

3.      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

4.      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

5.      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.

6.      Premium Loan (Grant)

·        Maximum deposit holding times 4

·        Repayment period within 48 months

·        Interest rate of 1% on reducing balance

·        Repayment through FOSA

7.      Okoa Jahazi Loan

·        Bailing members from other  financial institutions

·        Repayment period within 48 months

·        Interest rate of 1% on reducing balance

8.      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

9.      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:-

10.   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.

11.   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.

12.   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%.

13.   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

14.   Chama loans

·        Eligible for groups.

·        There be minutes authorizing issuance of the loan.

·        Application signed by the signatories.

·        Repay period is 36 months

·        Interest rate is 1% on principal

Cosmopolitan Sacco Contacts.

Formore information regarding Cosmopolitan Sacco Paybill Number 973 100, or other services, contact the branches as follows.

The Chief Executive Officer

Cosmopolitan Sacco

P.O Box 1931, Nakuru

Telephone 051/2212415/6

Mobile: 0722-388616

Info@Cosmopolitansacco.Co.Ke

The Branch Manager

Naivasha Branch

Mobile 0700-470339

Biashara Street near Naivas Kubwa Supermarket

The Branch Manager

Bahati Branch

Mobile: 0700-470342

Next To District Headquarters

The Branch Manager

Molo Branch

Mobile: 0716-861224

The Branch Manager

Narok Branch

Mobile: 0717-546502