BOSETU Savings and Credit Cooperative Society (SACCOS)
The society was founded in 2008 under the Cooperative Society Act (Cap 42:04) as a Savings and Credit Cooperative Society. The objective of the Society is to promote a culture of saving among its members and to create thereby a source of funds from which loans and withdrawals can be made exclusively to members for provident and productive purposes
Savings contributions are made monthly directly from member’s salary.
The society has Board members and sub committees as a means of internal control. SACCOS members can save money and use the savings to apply for low-interest rates loans, at a predetermined savings-loan ratio. Withdrawals may also be allowed but are not encouraged. Members can benefit from simple loan terms and conditions. SACCOS offer members better interest rates if members need a loan during these challenging times.
SACCOS Savings
BOSETU SACCOS has three (3) products, namely, Montsamaisa Savings, Thobo Savings and Bokamoso Savings
MONTSAMAISA SAVINGS
Minimum contribution/premium of P100 per month
Minimum book balance of P500
Contributions/premiums allowed to fluctuate either way
Loan ratio at 1:3. (This will come into effect on JUNE 2023)
Maturity and Loans request/withdrawal after 12 months
Withdrawal at 60% of the saved amount
Withdrawal charged at 2.5% of total amount withdrawn
THOBO
SAVINGS
Minimum contribution/premium of P200 per month
Contributions/premiums allowed to fluctuate either way
No withdrawals until upon maturity
Loan ratio at 1:3.
Montsamaisa Savings can be combined with Thobo Savings for a loan request
Savings for 12 months.
Roll over allowed on the 12th month
BOKAMOSO
SAVINGS
Minimum contribution/premium P500 and more
Contribution/Premiums at a fixed amount
Account fixed at 12 months minimum and 60 months maximum
SACCOS Loans
BOSETU SACCOS offers a wide range of loans at competitive rates, this includes the following;
Quick
loan
Caters for your social needs at P2000.00 maximum limit
Emergency
Loan
Maximum limit is P10 000.00 payable within 12 months
Ordinary
Loan
Maximum loan limit is P100 000.00 with 60 months repayable period
BOSETU SACCOS Encourages Responsible Lending and We Are Your Preferred Savings and Credit Partner
SACCOS Management Board
Hendricks Albert
Chairperson
Mpho Maruping
Vice Chairperson
Keatlaretse Kopame
Board Secretary
Therisayo Moeng
Vice Secretary
Mosa Modise
Board Member
Rakkie Kelesamile
Board Member
Kennedy Mmusi
Board Member
Gloria Molebatsi
Board Member