BENEFITS OF A FOSA ACCOUNT

• Free account opening
• No ledger fees /monthly charges
• Affordable charges
• Quicker or faster loan processing
• Faster payment of dividends, Burial Benevolent fund & Risk Claims
• Bridging/Loan Top up facility available
• A Mwalimu Debit card –
• Credit facilities/Advances
• Mobile banking
• Internal and external standing orders
• Early salary processing
• Funds transfer – RTGS and Bankers’ cheques
• Cheque clearing
• Competitive interest on savings account with balance of 6, 000 and above
• ATM services
• Internet Banking

FOSA ACCOUNTS

Our FOSA members can open one or more of the following accounts:

• SAVINGS ACCOUNT: Enjoy no ledger charges and earn interest on savings at the end of every
• SAVE AS YOU EARN (SAYE): Used to save for a certain period for a particular purpose after which one can access the
• FIXED DEPOSIT ACCOUNTS: earn interest at competitive rates with our fixed deposit
  • SCHOOL FEES ACCOUNT: can be used to set aside funds for school fees, to be accessed at that time it is
  • HOLIDAY ACCOUNT: save and take some time out yourself or with your family with our holiday
  • JUNIOR ACCOUNT: an account used by our members to put aside funds for their children and also helps teach the young ones the importance of saving and helps them acquire a saving culture as they grow
  • BIASHARA ACCOUNT: is an account tailor made for members operating their businesses

  FOSA ADVANCES

  Type of Advance	Maximum Amount issuable
  Twelve (12) months’ advances	Net Salary x 12 or SAYE x 12
  Thirty (30) months advance	Net Salary x 20 or SAYE x 20
  Thirty six ( 36) months advance	Net Salary x 20 or SAYE x 20
  Salary – in – advance	80% of the expected Net Salary
  Advance against expected Dividend	Issued between October and the Dividend issuance month