This facility enables salary account holders to access long-term loans, repayable over a longer period of time.
- Flexible repayment periods of up-to 60 months
- Interest rate- 18%p.a on reducing balance
- Based on 80% of members’ net pay
- Payable through FOSA salary accounts.
- The Loan shall be secured by members' deposits, guarantors and other Sacco accepted securities
- The member signs irrevocable instructions to have their salary pass through FOSA
- Salary should have passed through FOSA for at least 3 months before applying for the loan.
- Disbursed same day of application
- Terms and Conditions apply