General eligibility requirements
- Salary must be channeled through the Fosa
- Payslip ability.
- Offset charge of 5% of BOSA loans will be charged.
- Must be a member
Mobile Loans
- The Salary MUST pass through FOSA at least 3 times
- The System will pick the least salary for the three months
WEEKEND NJEMA
SALARY ADVANCE
FOSA EMERGENCY
FOSA OKOA
FOSA MAKAO
STEPPA LOAN
KENPIPE ADVANCE
VUKA ADVANCE
This loan enables a member apply for a salary advance by use of the mobile banking service, MSACCO.
Features:
- The product can be applied anytime and a member is limited to one advance at a time.
- No top up is allowed.
- Maximum amount Ksh 10,000.
- Interest rate is 10% upfront.
- The product is repayable in one month.
Features;
- Interest rate on loan is 10% upfront.
- Repayable within one month.
Features
- Loan must be fully guaranteed by 3 guarantors.
- Repayment period shall be up to 12 months.
- Interest rate on loan is 14% per year on reducing balance.
- Maximum loan is Ksh 300,000.
Features;
- Maximum loan limit is Ksh. 500,000.
- Loan repayment period is 24 months.
- Interest on loan is 14% per year reducing balance.
- Should have at least 5 guarantors.
Features
- Loan must be fully guaranteed by 3 guarantors.
- Repayment period shall be up to 12 months.
- Interest rate on loan is 14% per year on reducing balance.
- Maximum loan is Ksh 300,000.
Features
- Salary MUST be processed through FOSA.
- Member MUST have deposits and in compliance with monthly minimum contribution of Kes 5,000
- The product will charge an upfront processing charge of 10% and attract interest at normal Fosa Rate of 14% on outstanding amounts.
- Additionally, this product will be offset in case a member is applying fora FOSA LOAN (Emergency or Fosa Okoa).
CALCULATIONS
( Net Pay after all loan deductions/2 ) * 10 Months
Features
- Loan must be fully guaranteed by 3 guarantors.
- Repayment period shall be up to 12 months.
- The product will charge an upfront processing charge of 10% and attract interest at normal Fosa Rate of 10% on outstanding amounts.
- Top-up will be allowed at 10% commission
Features
- Loan must be fully guaranteed by 3 guarantors.
- The product will charge an upfront interest rate of 10% .
- Interest rate on loan is 1.25 per month on reducing balance.
- Top up maybe allowed at 3% one-off commission or as the BOD may decide
- Repayable is within 6 months