call us

0724610715

0734897817

info@shirikasacco.co.ke

shirikasaccosociety@gmail.com

FOSA LOAN PRODUCTS

FOSA Loan Products

Fosa Personal Loans:

For members who channel their salary through the FOSA .Repayment period is 60 months with an interest of 1.5% per month on reducing balance. A minimum of Ksh 2500 must be left in the account after deductions.Top-up commission of 5% is charged.

Instant Loans:

For members who channel their salary through the FOSA .A minimum of Ksh.2,500 must be left in the account after deductions. 6 month repayment period at 5% interest per month on reducing balance.

Salary Advance Loan:

For members who channel their salary through the FOSA. Maximum of 60 % of salary channeled through FOSA is given as advance. A member must be left with at least ksh 2500 in the account as take home after all deductions. An interest rate of 5% is charged one-off upon posting of salary.

Asset Based Loans :

Repayment period 5 years with an interest of 1.5% per month on reducing balance . Maximum 2,000,000. Collateral: Land(commercial property) – 80% of the value.The member to meet processing fees.

Asset Financing;

Repayment period 5 years with an interest rate of 1.5% per month on reducing balance.The asset is owned by the member and the Sacco jointly through an agreement. The Sacco finances 80% of the value. Maximum 3,000,000. The member to meet processing expenses.

Tarajia Loan:

The product is designed for members who received dividend in the previous  year and have channeled their salary through the FOSA. A member can access upto 50% of previous interest on deposit. Application of the loan is between July and December yearly. Interest is 1% straight line. No guarantors needed. Repayment period 5months.

Vukisha Loan:

The product is designed for members who received dividend in the previous  year. A member can access upto 50% of previous interest on deposit. Application of the loan begins on  1st  December  to January  yearly. Interest is 5% one off without guarantors.

Group/Unganisha Loan:

For registered groups; Maximum loan 2 million, repayment period, 24 months:interest rate 1.5%. per month on reducing balance; additional collateral other than deposit required: 1st loan will be one and a half times the group’s savings; second loan will be twice the group’s savings.
DSC_0532