Our FOSA members can open one or more of the following accounts:
- Savings Accounts
- Save as you earn (SAYE) Accounts
- Fixed Deposit Accounts
- School Fees Accounts
- Holiday Accounts
- Junior Accounts
Benefits of a FOSA Account
- Free Account opening.
- No ledger fees/ monthly charges.
- Competitive interest rates.
- Affordable charges.
- No charge for idle accounts.
- Quicker or faster Loan processing.
- Faster payment of Dividends, Burial Benevolent fund & Risk Claims.
- Bridging/Loan Top up facility available.
- 1 Sacco Link ATM card
- For Credit/Advances.
- Legibility for Business Loans.
Requirements for opening a FOSA Account
- 2 coloured Passport Size Photographs.
- Copy of payslip.
- Original and a photocopy of the National Identity Card.
||SALARY IN ADVANCE
||Advance Against Dividends
||End of Month
||Once Dividends are declared.
||7.5% or 5%*
||Net salary *15
Net SAYE *15
|Net salary *15
Net SAYE *15
|80% of the Net Salary or SAYE
||75% of the proposed dividends
Salary in Advance
- Maximum amount is 80% of the net salary or S.A.Y.E. after the recovery of due
- Interest rate is 5% of the amount borrowed.
- Interest and principal amount is recoverable once at the end of each month.
- A customer’s salary or S.A.Y.E. must be passing through W.S.F.