FOSA ACCOUNTS

NOACCOUNTREQUIREMENTS
1ORDINARY SAVINGS ACCOUNT
  • Opening balance Kshs.1000/= if not a Sacco member.
  • Minimum balance Kshs.500/=
  • Interest will be determined from time to time
2HOLIDAY SAVINGS/XMAS SAVINGS
  • 12 months maturity
  • Minimum savings of Kshs.500/= per month.
  • No monthly charges.
  • Open to non-members
  • Interest will be determined from time to time
  • Withdrawal done once per year
3ASILI SUPER SAVER
  • Minimum opening balance Kshs.10,000/=
  • Withdrawal is done quarterly
  • Interest will be determined from time to time
4BARAKA SAVINGS (CHILDREN)
  • ID of parents /guardian or passport
  • Birth certificate of the child
  • Minimum balance Khs.1000/=
  • Interest will be determined from time to time
5EDUCATION SAVINGS SCHEME
  • Not withdrawable for 12 months
  • Interest determined from time to time
  • Free bankers cheque
  • Premature cheque clearance Kshs.500/=
6FOSA MWANANCHI
  • Group account
  • List of group members with their contacts and signatures
  • Registration certificate of the group
  • Minutes resolving opening of account
  • Photocopies of ID of signatories
  • Two photographs –passport size of office bearers
  • Minimum opening balance - Kshs.5000/=
7FIXED DEPOSIT
  • Minimum deposit – kshs.50,000/=
  • Minimum period 3 months and no maximum period.
  • Interest rate is 6% per annum.
  • Interest is negotiable depending on the amount and duration
  • Withdrawal before maturity attracts 2% penalty and interest earned will still be paid.
  • Interest is calculated on a prorata basis
8HUSTLER’S ACCOUNT
  • Fill in the hustlers' application for account
  • Attach both passport and id copy
  • No minimum and operating balance
  • Can withdrawal anytime and withdrawal charges apply
  • No minimum and maximum balance
9MALKIA SAVINGS ACCOUNT
  • This account is designed for the ladies
  • Fill in the malkia saving account application form
  • Attach both the national id and recent passport photo
  • Only charged on withdrawal
  • No minimum opening balance.
  • No operating balance
  •  Earn 10% interest per annum.
  • Interest is credited to the account monthly
  • Withdrawal is done on a quarterly basis
  • Minimum interest earning balance is Ksh. 5,000
  • A voucher of Ksh. 5,000 in December for account with Ksh.200,000 balance for 6 months proceeding December.