FOSA Loan Products
FOSA Loans
All FOSA loans are mobile based except for the Personal Loan. Mobile based loans are applied using the following procedure:
- Dial *879#
- Select 3 – Loan
- Select 1 – Loan Request
- Choose the type of loan
- The amount you qualify for will appear on the screen
- Reply with the amount and guarantor if required
- Wait for M-chapaa to respond
Special Advance
Features:
- Members qualify for a minimum of 50% of the previous year’s interest earned on deposits
- Member have contributed monthly required amount for atleast 11 months on the previous year
Interest Charged:
- January – 10%
- February – 7.5%
- March – 5%
Salary Advance
- Must have a Fosa account.
- Salary must pass through Fosa for at least 1 month
- Granted up to 50% of Net salary
- Caters for urgent needs, Medical bills, Insurance, Family subsistence, etc…
- Repayable within one (1) month
- Interest rate at 5% upfront
FOSA Flex
- Must have a Fosa account.
- To cater for urgent needs, Medical bills, Insurance, Family subsistence, etc…
- Repayable in 3 months
- Granted up to 3 times the net salary
- 1 guarantor required
- Interest rate at 2% upfront
Do you have an inquiry about our FOSA loan products?
Instant Loans
- Must have a Fosa account.
- Salary must pass through Fosa for at least 3 months
- Repayable in 6 months
- Granted up to 3 times the net salary subject to 1/3 rule 1 guarantor needed
- Interest rate at 2.5% upfront
- To cater for urgent and unforeseen needs
Quick Fix
- Must have a Fosa account.
- Given to FOSA salaried members of the Sacco
- Maximum Loan limit is 6,000
- Pegged on members Deposits
- Repayable within 3 months
- Interest paid upfront
Super Instant
- Must have a Fosa account.
- Salary must pass through Fosa for at least 3 months
- Granted up to 6 times the average net salary subject to 1/3 rule
- 2 guarantors
- To cater for urgent School fees, Medical bills, Insurance, Family subsistence
- Repayable in 12months
- Interest rate at 3% upfront
Project Loan
- Must have a Fosa account.
- Salary must pass through Fosa for at least 3 months
- Granted up to 6 times the average net salary subject to 1/3 rule
- 2 guarantors below 100,000 and 3 guarantors above 100000 to a maximum of 150,000.
- Repayable in 18 months or 24 Months on reducing balance
- To cater for urgent School fees, Medical bills, Insurance, Family subsistence
