FOSA Account Holders
FOSA SALARY LOAN
Convenient Salary-Deducted Loan for FOSA Payroll Channel Members
FOSA SALARY LOAN
FOSA Banking
Interest Rate
1.25% on reducing balance
Repayment Horizon
72 months (6 Years)
Borrowing Limit
Determined by Applicant's Net Pay
Annual Equivalent
15.0% p.a.
Product Name
FOSA SALARY LOAN
Interest Rate
1.25% on reducing balance
Repayment Period
72 months (6 Years)
Security / Multiplier
Determined by Applicant's Net Pay
Purpose & Description
The purpose of a FOSA (Front Office Service Activity) salary loan is to provide a member with funds to meet financial needs. The loans is specifically for members whose salaries are channeled through the FOSA account and are repaid conveniently through deductions from their next salary.
Features & Qualification Criteria
The following are the exact mandatory specifications for FOSA SALARY LOAN:
i) Applicant must be a SACCO member.
ii) Loan amount determined by applicant's net pay.
iii) Four (4) guarantors, one (1) witness.
iv) Two (2) latest original pay slips.
v) The salary should have been processed through the SACCO FOSA for at least one month.
Frequently Asked Questions
Do I need my salary channeled to FOSA?
Yes, you must have processed your monthly pay through the SACCO FOSA account for at least 1 month.
Apply for FOSA SALARY LOAN
Please Visit Chuka University SACCO to Apply
To apply for the FOSA SALARY LOAN, please visit our Chuka University SACCO Main Office to complete the official loan application form and submit your supporting documents (guarantor forms & payslips) with our credit desk.
Office: Chuka University SACCO Offices, Main Campus
Telephone: +254 772 689 460
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.