FOSA PRODUCTS

FOSA Account

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.
FOSA Advance
LOAN TYPE ADVANCE ADVANCE SALARY IN ADVANCE Advance Against Dividends
REPAYMENT PERIOD 12 months 24 months End of Month Once Dividends are declared.
INTEREST RATES 1.25% p.m. 1.50% p.m. 5.0% Once 7.5% or 5%*
MAXIMUM AMOUNT 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
    liabilities.
  • 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.