Loan Application & Agreement Form Page 2
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3PART C: LOAN AGREEMENT AND DECLARATION
I ________________________________________________________hereby apply for loan of Kshs ____________________
(Amount in words_______________________________________________________________________________________
for a period of ___________months to be paid in installments of Ksh ____________________ or as the Board may decide.
Loan application type:
Tick
Tick
Tick
1
Normal loan
6
Instant Loan
11
Asset Finance
2
Normal loan (loyalty)
7
FOSA Salary Advance
12
Emergency
3
Premier loan (Loyalty)
8
Car Loan
13
Insurance Loan
Retiree’s loan products
4
Premier Loan
9
Dividend Advance
14
5
Settlement Loan
10
Education Loan
15
Others -
For bridging cases (please tick the loans you want to bridge)
Tick
Tick
Tick
1
Normal loan
6
Instant Loan
11
Asset Finance
2
Normal loan (loyalty)
7
FOSA Salary Advance
12
Emergency
3
Premier loan (Loyalty)
8
Car Loan
13
Insurance Loan
Retiree’s loan products
4
Premier Loan
9
Dividend Advance
14
5
Settlement Loan
10
Education Loan
15
Others -
Declaration on terms and conditions
I hereby declare as follows:
1) That I have been a member of United Nations Sacco Society Ltd (hereinafter referred to as “The Society”).
2) That I understand that this application will go through a vetting process and should my loan be approved, a loan
account will be set up in my name.
3) That I understand that The Society may approve or decline an application for credit facility in its absolute discretion.
The Society is not obliged to disclose any reason for decline or approval of an application.
4) That I understand that interest on all credit facilities will be calculated on daily overdrawn balances at the prevailing
interest rate, and shall be payable to The Society monthly in arrears. Interest will be charged on all amounts owed by
myself.
5) That all amounts received by The Society will be first apportioned towards overdue interest and charges/fees. Any
balance left thereafter will be appropriated lastly towards the principal.
6) That The Society may use any information related to me for evaluating the credit application. The Society may also
share such information with credit rating or reference agencies. I authorize The Society to use any information that
The Society may obtain about me for such purposes as The Society deems appropriate. The Society may disclose
information about me to debt recovering agencies, investigation agencies and law firms with a view to recovering any
debt due to The Society from myself, at the full expense of my account.
7) That I hereby give authority to my present employer to deduct from my salary every month such a sum of money
consisting of Principal loan repayment and interest as may be determined by The Society, until the loan is repaid in
full and I hereby undertake to give similar authority to my future employers in the event that I should leave the
services of my present employer before my loan is repaid in full.
8) That I confirm that I am in good health and agree to obtain credit insurance cover from the insurance company
procured by The Society, for the entire duration of the facility. I further authorize the society to grant me the loan
facility approved, less the applicable insurance fees.
9) That I agree to pay all charges, fees, rates, levies or taxes that are or may become payable on any asset offered as
security. I also irrevocably authorize The Society to pay such charges, fees, levies or taxes on my behalf and to include
them as part of the amount owed by myself.
10) That Unless I instruct The Society on the contrary, The Society is authorized, but not obliged, to act on my banking
instructions transmitted through email or facsimile service. I release The Society from, indemnify and hold The
Society harmless from and against all actions, suits, proceedings, costs, claims, demands, charges, expenses, losses and
liabilities however arising, in consequences of or in any way related to:
-The Society having acted in good faith in accordance with my written email or facsimile instruction(s),
notwithstanding that such instruction(s) may have been initiated or transmitted in error or fraudulently altered,
misunderstood or distorted in the lines of communication or transmission.
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