FOSA PRODUCTS

NOPRODUCTREQUIREMENTSINTEREST RATEREPAYMENT PERIOD
1FOSA PRIDEOperate account in Fosa Monthly salary must have passed through Fosa for 3 months Net salary must cover loan repayment and interest and retain a take-home of Ksh 2000/= Maximum loan of Ksh 250,000/=1.5 % per month 24 months
2PRIDE RELOADED Operate account in Fosa Loan granted 4 times saving in pride saving account. Minimum of 10 guarantors Maximum loan of Ksh. 350,000/=0.85% per month36 months
3SALARY ADVANCEOperate account in Fosa. Monthly salary must have passed through Fosa for 3 months. Qualifies for 80% of the net salary. Interest is recovered upfront.13% per annum recovered upfront12 months
4SALARY IN ADVANCEOperate account in Fosa Monthly salary must have passed through Fosa for at least 3 months. Maximum amount accessible is equal to net salary5% per month recovered upfrontRepayable within 1 month
5BIASHARA LOANIssued to members who have saved through Mwananchi account. Granted up to four times savings in Mwananchi account to a maximum of Kshs. 500,000/= Repayment through FOSA standing orders. Loan can be refinanced at 20%1.5% per month. 1% appraisal fee 1% insurance feesRepayable in 24 to 36 months
6FOSA CHAMA LOANIssued to those who have saved through Group Account. Granted to a minimum of Kshs.500, 000, repayable in 12 months at an interest rate of 1.5% per month. Repayment through FOSA standing orders. Loan can be refinanced at 20%1.5% per month. Appraisal fees of 1% will be recovered. Insurance fees of 1%Repayable in 24 months
7FOSA SCHOOL FEESThe maximum amount is Ksh. 150,000 Mode of payment is Ksh. 20,000 cash and the rest is free bankers cheque to the schoolInterest rate is 1.20% per month on straight lineMaximum repayment period is 15 months
8FOSA ANGALAUEligible to those whose salary pass through fosa but can’t qualify for a loan in the back office The maximum amount is Ksh. 20,000Interest rate is 15% recovered upfront on straight line methodMaximum repayment period is 2 months
9HUSTLERS LOANMust be a hustler saving account holder Must operate the account for 4 months to qualify for the loan Maximum loan is 1.5 times the balance in hustler account Can only access 50% of the saved amount after the loan is granted Can be repaid by either standing order from hustlers account or direct cash payment or PayBill no: 638018Interest rate is 12% charged upfront Insurance charge is 12% upfrontMaximum repayment period is 6 months