| 1 | FOSA PRIDE | Operate account in Fosa
Monthly salary must have passed through Fosa for 3 months
The Loan shall be credited to FOSA account 2 days after reciept of Loan form
Net salary must cover loan repayment and interest and retain a take-home of Ksh 2000/=
Maximum loan of Ksh 500,000/= | 10.80% p.a (Straight Line) |
24 months |
| 2 | PRIDE RELOADED
| Operate account in Fosa
Loan granted 3 times saving in pride saving account.
Minimum of 5 guarantors
Loan shall be credited to FOSA account 14 days after the receipt of loan application
Maximum loan of Ksh. 1,000,000/= | 12 % p.a (Straight Line) | 36 months |
| 3 | SALARY ADVANCE | Operate 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 upfront | 12 months |
| 4 | SALARY IN ADVANCE | Operate account in Fosa
Monthly salary must have passed through Fosa for at least 3 months.
Maximum amount accessible is equal to net salary | 5% per month recovered upfront | Repayable within 1 month |
| 5 | BIASHARA LOAN | Issued 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 fees | Repayable in 24 to 36 months |
| 6 | FOSA CHAMA LOAN | Issued 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 |
| 7 | FOSA SCHOOL FEES | The maximum amount is Ksh. 150,000
Mode of payment is Ksh. 20,000 cash and the rest is free bankers cheque to the school | Interest rate is 1.20% per month on straight line | Maximum repayment period is 15 months |
| 8 | FOSA ANGALAU | Eligible to those whose salary pass through fosa but can’t qualify for a loan in the back office
The maximum amount is Ksh. 20,000 | Interest rate is 15% recovered upfront on straight line method | Maximum repayment period is 2 months |
| 9 | UCHUMI LOAN | Must be a Uchumi saving account holder
Must operate the account for 4 months to qualify for the loan
Maximum loan is 1.5 times the balance in Uchumi account
Can only access 50% of the saved amount after the loan is granted
Can be repaid by either standing order from Uchumi account or direct cash payment or PayBill no: 638018 | Interest rate is 12% charged upfront
Insurance charge is 12% upfront | Maximum repayment period is 6 months |