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Account Types

Members can access the following savings services

Features

  1. Minimum operating balance Kshs. 500
  2. No account maintenance fees
  3. Earnings can be channeled through the account ,such as salaries, dividends, and crop proceeds e.t.c
  4. You can transact as many times in a day
  5. Can be used as a business account

Designed to cater for joint account and group welfare account

Requirements:

  1. Minutes in case of Institutions/Welfare groups.
  2. Introduction letter incase of Churches.
  3. Certificates of registration incase of Institutions.

Features:

  1. Minimum deposit Kshs.10, 000.
  2. Minimum period 3 months.
  3. Interest rate is on graduating scale
  4. Contract honored after maturity.
  5. Members can secure advances at discounted rates.

Features:

  1. Minimum operating balance Kshs. 500
  2. Enable you to save for your childs future.
  3. No account maintenance fees.

Requirements:

  1. Original and photocopy of parents I.D card.
  2. Birth certificate/Birth notification card of the child

Features:

  1. Minimum operating balance Kshs. 500
  2. Designed to encourage members / customers to save towards their children’s education or even their own education.

Features:

  1. Minimum operating balance Kshs. 500
  2. No account maintenance fees
  3. Designed to encourage customers to save for festivities e.g. Easter / Christmas holidays

Designed for micro finance groups

Requirements:

  1. Save a minimum of Kshs. 250 per week or Kshs. 1000per month.
  2. Qualify for a loan after 10 weeks (2 ½ months)
  3. Repayment is from 9 months.
  4. Interest rate is 1.5% per month or 18% per annum
  5. Maximum loan is Kshs. 150,000
  6. Group members co-guarantee
  7. If the performance of the group is good a group member can get a maximum loan of Kshs 150,000.

Main Features:

Enables people without accounts to enjoy banking services. May be used to:

  1. Pay school fees
  2. Pay casual workers
  3. Settle bills
  4. Pay Creditors
  5. Payment of dividends
  6. Payment of deceased member’s dues to beneficiaries.

Main Features:

Enables members to introduce their spouses, children, relatives and friends staying a broad to access the same services enjoyed by the members.

We have our own branded ATM cards.

Advantages of using ATM:

  1. It is time saving
  2. It is cheap as compared to the counter withdrawal.
  3. You can withdraw your money any time (24hrs)

This is a mobile banking service that enables members to transfer money to and fro FOSA, send enquires, credit applications and other banking transactions through their mobile phones.

Advantages of Using Mobile Banking

  1. It is time saving
  2. It is cheap as compared to the counter withdrawal.
  3. You can access this service anywhere anytime.
  4. You can withdraw your money any time (24hrs)

A facility that enables members to save part of their salary by channeling it through the Fosa.

Benefits

  1. It is a convenient way of accumulating savings.
  2. Members can access credit inform of salary advance and Fosa loans.