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Detailed Features

Our products and services are divided into two main categories dependent on our activity areas namely:

a)    Banking Division (Formerly FOSA); and
b)    Savings and Loans Division (Formerly BOSA).

Their characteristics are as follows:-

Savings and Loans Division

NAME OF PRODUCT/SERVICE DESCRIPTION
PREMIER PERSONAL LOAN
  1. Granted at four times the member's shares/deposits.
  2. Minimum Kes.50,000/= and maximum dependent on repayment ability
  3. The Member retains quarter (1/4) of the amount disbursed as shares/deposits thus a deviation from the Sacco Model.
  4. Members with existing loans in the Society and other financial institutions can apply.
  5. Loan secured by at least 5 guarantors.
  6. Loans granted within 48 hrs.
  7. Reasonable interest rates based on the market rate.
INSTANT DEVELOPMENT LOANS
  1. Granted three (4) times a member’s shares/deposits and repayable in 60 months
  2. Loan granted instantly throughout the year
  3. Effective Interest rate is 0.54% per month
  4. The applicant must have contributed shares and deposits for at least 3 months.
  5. The loan must be secured by at least 5 guarantors who are Sacco members as well.
  6. Strict adherence to the 2/3rds rule
  7. Shares/deposits transferred from other Saccos qualify during appraisal
INSTANT EMERGENCY LOANS
  1. Granted within four (4) times a member’s shares/deposits taking into consideration other outstanding loans.
  2. Strict adherence to the 2/3rds rule.
  3. Effective interest rate 0.54% per month.
  4. The applicant must have contributed shares and deposits for at least 3 months.
  5. The loan must be secured by at least 3 guarantors who are sacco members as well.
  6. Shares/deposits transferred from other Saccos qualify during appraisal.

INSTANT NORMAL LOAN

  1. )This is an instant product granted to SACCO members.
  2. )Granted strictly within the 2/3rds rule.
  3. )Applicant must be free from all loan products.
  4. )Loan interest rate 0.5% per month.
KARIBU METRO LOAN
  1. )This product is aimed at assisting newly employed teachers/employees settle at their new stations
  2. )Granted Instantly throughout the year;
  3. )Maximum of Kes. 120,000/=
  4. )The Member retains 1/3rd of the amount disbursed as shares/deposits
  5. )Loan secured by at least 3 guarantors.
REFUSHA MAISHA PLAN
  1. )Aimed at accumulating savings for our members for retirement purposes
  2. )Contribution through check off or FOSA standing orders
  3. )Minimum contribution is kes.1,000= per month
  4. )Attractive annual dividends payment
  5. )Withdrawals only at maturity of the plan
  6. )Capital injection allowed.

Banking Division Characteristics

PRODUCT/SERVICE DESCRIPTION
FOSA PERSONAL LOAN
  1. Granted instantly throughout the year
  2. Must be within 4 times a member's deposits in BOSA
  3. Must be secured by at least 5 guarantors who channel their salaries through the FOSA section
  4. The applicant must channel his/her salary through the FOSA section
  5. The applicant must be a member of the Sacco.
  6. Maximum amount depends on the repayment ability and members deposits
  7. Top ups on this product available
FOSA SCHOOL FEES LOAN
  1. Granted instantly throughout the year.
  2. Must be within 4 times a member's deposits in BOSA
  3. Must be secured by at least 2 guarantors who channel their salaries though the FOSA section.
  4. The applicant must channel his/her salary through the FOSA section
  5. The applicant must be a member of the Sacco
  6. Top ups on this product available
SALARY/PENSION ADVANCE
  1. Granted instantly throughout the year from 5th of every month.
  2. 6 times of net salary for Sacco members and 1 month’s salary for non-members.
  3. Top ups done.
METRO AUTO LOAN
  1. )Designed to enable customers meet their needs pending the disbursement of expected proceeds
  2. )An instant product
CHEQUE DEPOSIT ADVANCE  Instant advance pending clearance of the cheque deposited
FIXED DEPOSIT ADVANCE/CASH COVER  A maximum of 80% of the amount held in fixed deposit
NORMAL LOAN ADVANCE
  1. )It is an instant product
  2. )Designed to assist our members meet their pressing needs pending the eventual processing of the loan application
FOSA PERSONAL LOAN ADVANCE
  1. )It is an instant product
  2. )Designed to assist our members meet their pressing needs pending the eventual processing of the loan application
FIXED DEPOSIT ACCOUNTS

 Negotiable interest rates on fixed deposit.

 Rates very attractive

DHAHABU INVESTMENT PLAN

 1.) A hybrid fixed deposit account;

 2.) Interest is paid in advance on the date of deposit;

 3.) Interest is negotiable depending on the amount deposited

 4.) Minimum deposit is 50,000=.

FOSA JUNIOR ACCOUNTS

 1.) Account for children of our members;

 2.) No charges are levied;

 3.) Free school fees banker’s cheque

SALARY/SAVINGS ACCOUNT

 VISA branded SACCO LINK debit cards.

M-Banking helping members to access their FOSA accounts via phone.

Head Office Kiambu Branch Kimathi Branch Thika Branch Limuru Branch Kisumu Branch Bungoma Branch Nakuru Branch

Chai House

Ground Floor,

Koinange Street

P.O. Box 5684 - 00100,

Nairobi.

Tel: 020 - 8050993/4

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Community Centre

Opposite Kahawa House,

P.O. Box 871 - 00900

Kiambu,

Tel: 066 - 2022468/ 2022581/

2022514

Fax: 2022007

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Kimathi House

Upper Ground Floor,

Nairobi.

Tel: 020 8050993/4

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Marafique Plaza

Along Kenyatta Highway,

Tel: 067 - 21382/30691

Thika.

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Gitungo House

Limuru,

Ngenia road,

Tel: 020 - 2378200

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Swan Centre

Oginga Odinga Road,

P.O. Box 3905 - 40100,

Kisumu.

Tel: 057 - 2023781.

Mobile: 0737 - 797382

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Chewai Plaza

Off Moi Avenue

P.O. box 2696 - 50200

Tel: 0737 - 428890

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Masters Plaza

Along Kenyatta Ave.

Nakuru.

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