Fosa Products

Salary In Advance
Ksh. 60% of Basic Salary  / Payable in 12 months
  • Maximum loan amount is 60% of Member basic Salary
  • Member salary must pass through FOSA for at least 12 months
  • Recovered within a month
  • A third rule is applicable
  • Interest rate is charged at 10% upfront
  • Processed within a day
Salary Advance
Ksh. 80% of Net Salary  / Payable in 1 month
  • Salary must pass through FOSA at least once.
  • Loan recovered within a maximum of one (1) month.
  • Loan secured by guarantors.
  • Commitment letter from employer
  • Processed within a day

 

FOSA LOAN/ADVANCE
Ksh. 300,000 max  / Payable in 12 months
  • Third rule apply
  • Not pegged to deposit contribution but on salary
  • Maximum repayment period is 12 months
  • A third rule is applicable
  • Effective interest rate is charged at 13% P. A
  • Processed within a day
  • Able to top-up
EMERGENCY LOAN 20 MONTHS
Ksh. 300,000 Max  / Payable in 20 months

Other Features

  • Interest rate of 3% per month amortized
  • Turn-around time is one day
  • Third rule apply
KARIBU EMG LOAN
Ksh. 100,000 Max  / Payable in 12 months
  •  Designed for new Sacco members.
  • A third (1/3) of the loan is deducted as deposits and ksh.5000 share capital
  • Maximum repayment period is twelve (12) months.
  • Maximum amount is ksh.100,000
  • Loan must be fully secured.
  •  Competitive interest rate.