Fosa Savings Accounts
Requirement
- Original & Copy of National ID card
- Colored passport Photo
- Minimum opening balance
- Duly filled Membership Form
Key Features
- No monthly maintenance charge
- Free internal standing orders to own savings & investment products
- Earns interest as determined from time to time by BoD
Ordinary Savings Account
- Minimum operating balance Kshs. 1,000
- Salary & pension processing
- Access to FOSA advances and FOSA loans
Qwetu Farmers Account
- Minimum Operating Balance Kshs. 500
- Farmers payout processing
- Access to Agri-business Loans
Qwetu Chama Account
- Group registration certificate
- Minutes and Copy of group constitution
- Members list, at least 7 members
- Minimum opening & operating balance Kshs. 1,000
- Access to micro credit loans
- Access up to 75% LPO Financing
Qwetu Association Account
- Certificate of Registration
- Minutes & copy of constitution / by-laws
- Minimum operating balance Kshs. 1,000
Qwetu Jibambe Account
- Earns 6% p.a interest
- No Minimum Operating Balance
- Minimum Opening balance Kshs. 1,000
- Maximum withdrawal twice per year
- Organized & discounted holiday rates
- Holiday/Gift shopping vouchers/withdrawals
Toto wa Qwetu Account
- Must be below 18 Years
- Produce child’s birth certificate
- Earns 6% p.a interest
- Free branded Piggy Bank
- Annual fun day
- Minimum operating balance Kshs. 1,000
- Maximum withdrawal three times per year
Fosa Saving's Products
Qwetu Super Deposits
- Earns 10% p.a interest
- Interest payable after 90 days
- Redeemable anytime
- Minimum opening balance Kshs. 2,000
Retirement Savings Plan
- Must be employed or self-employed.
- Minimum contribution of Kshs. 500/= per month.
- Earns 10.5% interest p.a
- Interest payable in full upon retirement
- Redeemable upon retirement
Fixed Deposits
- Minimum Amount Kshs. 10,000
- Minimum Period 3months
- Earns up to 9.5% p.a interest
- Redeemable anytime
Emergency funds
- Savings for unforeseen eventualities
- Redeemable anytime
Fosa Advances
Key Features
- Processed & disbursed immediately
- Processing fee Kshs.200
Requirements / Eligibility
- Must operate FOSA Salary account
- Must channel salary through FOSA for at least 1 month
- Must contribute Member Protection Scheme
- Must contribute Share Capital
Pre Salary
- Processing fee Kshs. 200
- Interest 5% p.m
- Repayment period 1 month
- Amount up to 75% of current Net Pay
Salary Advance
- Processing fee Kshs. 200
- Interest charged 5%p.m
- Repayment period 2 – 6 months
- Amount up to 3 times Net Pay
Prestige Advance
- Processing fee Kshs. 200
- Interest charged 5.5% p.m.
- Repayment period 2 – 10 months
- Amount up to 3 times of net pay Loan Advances.
- Processing fee Kshs. 300/=
- Recovered immediately after loan posting.
- Interest charged 10%
- Amount Up to 75% of the BOSA loan applied
Fosa Personal Loans
Key Features
- Must operate FOSA Salary account
- Must channel salary through FOSA for at least 1
- month
- Must contribute Member Protection Scheme
- (MPS)
- Must contribute minimum Share Capital
- No BOSA shares required during appraisal
- Minimum Amount Kshs.10, 000.
- Interest as low as 1% per month
- Processing fee 2.5% of loan amount
- Repayment period 6-48 months
- At least 3 guarantors
- Processed & disbursed immediately
- Must retain minimum net take home of Kshs. 3,000/=for 12 months & Kshs. 5,000 for loans above 12 months
Requirements / Eligibility
- Must operate FOSA Salary account
- Must channel salary through FOSA for at least 1 month
- Must contribute Member Protection Scheme
- Must contribute Share Capital
Qwetu Express Loan
- Interest charged 1% p.m
- Repayment period 6 – 12 Months
Qwetu Express Plus Loan
- Interest charged 1.25% p.m
- Repayment period 6 – 18 Month
Qwetu Personal Loan
- Interest charged 1.5% p.m
- Repayment period 6 – 30 Months
Qwetu Plus Loan
- Interest charged 1.7% p.m
- Repayment period 6 – 48 Months
Member Karibu Loan
- Newly employed or recruited members
- Possess latest pay slip
- Employed on permanent or fixed contract terms
Features
- Appraisal based on 1/3 rule
- repayment period 6 – 72 months
- Interest rate 12% p.a
- No BOSA shares required during appraisal
- Loan installment, shares, MPS & RRF deducted through check-off system
- Disbursed immediately if salary passes through FOSA