FOSA LOAN PRODUCTS
- This is for those members earning their salaries or pensions in FOSA.
- Repayable between 15 to 24 months
- Interest rate: 1.5% straight-line
- Minimum loan amount: Ksh. 50,000
- Maximum loan amount to be Ksh. 200,000
- This is an emergency loan serviced through FOSA.
- Repayment between 5 to 12 months.
- Loan processed the same day.
- Maximum amount Sh. 200,000.
- This advance is given to salary earners before or after earning their salaries.
- Recovered in a single installment
- 1 month advance.
- Interest rate: 10%.
- For those servicing the Instant Advance
- This is a mobile loan accessed by members who are registered M-Sacco users and are actively contributing monthly deposits.
- Minimum loan amount for a start is 2,000, this will build up to a maximum of Ksh. 10,000
- Appraisal of loan is automated.
- Loan to be repaid through salaries.
- Interest is charged upfront.
- Registered users dial *346# to apply for the loan.
- Intended for new members who channel their salary through FOSA and may not have accumulated enough deposit for multiplier.
- 1/3 of the approved amount will be transferred to own deposit account.
- Repayable within 24 months.
- Interest rate: 15.6% per annum.
- Minimum loan amount: Ksh. 20,000.
- Maximum loan amount: Ksh. 100,000.
- Loan meant for development purposes for salary earners.
- Loans processed within a month.
- Repayable within 48 months.
- Interest rate1.3% P/M.
- This is a flexible advance to FOSA salary earners.
- Interest rate: 10% per month reducing.
- Minimum period: 2 months.
- Maximum period : 3 months.
- Minimum loan amount: Ksh. 3000.
- Maximum loan amount: Ksh.50,000.
- No guarantorship needed.
- Strictly for ECD teachers.
- Minimum repayment period is 15 months and maximum is 48 months.
- One should be contributing deposit of Ksh. 1100 per month to qualify.
- Repayable within 24 months.
- Interest rate: 12% per annum
- Minimum loan amount: Ksh. 90,000.
- Maximum loan amount: Ksh. 1 million.
- Strictly for Retirees earning their pensions through FOSA.
- It has low and attractive interest rates
- The repayment period 48 months.
- Interest rate: 12% per annum
- Minimum loan amount: Ksh.20,000.
- Maximum loan amount: Ksh. 1 million