FOSA Products

PRODUCT
PERIOD
INTEREST RATE
LOAN LIMIT
NOTES
 
Salary Advance
10 months
5.0% p.m on
reducing balance
Determined by
the net pay
2/3 rule
 
Emergency Loan
10 months
1.33% p.m on
reducing balance
Three times the
number of shares
≤ ksh300,000
Emergencies including Hospitalization, Court fine,
Funeral expenses, Unforeseen circumstances
Documentation evidence is needed  2/3 rule
 
School Fees Loan
12 months
1.33% p.m on
reducing balance
Three times the
number of shares
≤ ksh300,000
Cheque is drawn to the institution
 
Development Loan
84 months
14.5% reducing
balance
4 times a member’s
deposits
Support purchase of land, building of houses and any
other development project
 
Super Normal Loan  
1.42% p.m on
reducing balance
 

It’s a loan that is given with alteration of the terms and conditions of loan in following ways:
Increased/ longer repayment period (up to a maximum of 72 months)

Given before a member saves for at least six(6) months before application

 

Super Normal Loan

  
1.5% p.m on flat
basis
 

It’s a loan that is given with alteration of the terms and conditions of loan in following ways:
Increased/ longer repayment period (up to a maximum of 72 months)
Given before a member saves for at least six(6) months before application

 

 

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