FOSA LOANS
SHORT TERM (FOSA FLEX & FOSA EXPRESS)
- Maximum repayment period 12 months.
- Interest rate as per the tariff guide.
- A third basic salary rule applies.
- Must be guaranteed by at least three members in good standing.
- Can hold two loans at once.
- Salary passing through Fosa.
- No maximum limit.
- Processed instantly.
SETTLEMENT LOAN
- Salary to be channeled through Fosa (to fill pay point).
- Part of the loan approved capitalized to meet minimum share capital requirement.
- Maximum repayment period 12 months.
- Interest rate as per the tariff guide.
- Must be guaranteed by at least three members in good standing.
- Maximum loan Kshs.40,000.
- Provide certified letter of appointment, posting and casualty and any other document the sacco may deem fit.
- Processed instantly.
FOSA LONG TERM(FOSA PRIME & FANIKISHA LOAN)
- Maximum repayment period 72 months.
- Interest rate as per the tariff guide.
- A third basic salary rule applies.
- Must be guaranteed by more than 5 members in good standing for amount exceeding Kshs.500, 000.00
- Can hold two loans at once.
- Must own non-withdraw able deposits of not less than 25% of the applied loan considering all other loans.
PERSONAL LOAN
- Maximum repayment period 36 months.
- Multiplier of 4 times deposits.
- Subject to two third rule.
- Maximum amount is 50,000.
- Interest rate as per the tariff guide.
SALARY ADVANCE
- Maximum repayment period 6 months.
- Interest rate as per tariff guide.
- Must be guaranteed by three members in good standing.
- Salary must be channeled through Fosa for three consecutive months.
- Must be a member for three consecutive months.
- Processed instantly.
SALARY IN ADVANCE
- Repayment period 1 month.
- Interest rate as per tariff guide.
- Interest charged on disbursement.
- Guaranteed by one member in good standing.
- Salary must be channeled through Fosa for three consecutive months.
- Maximum of 70%of expected net salary
- Processed instantly.
