FOSA Loans

This is a member loan recoverable in one (1) month, Eligibility pegged on FOSA withdrawable deposits, savings account activity and salary.

Key Features:
  • Active account activity at the FOSA.
  • Loan is self-guaranteed by net salary and applicants deposits / savings.
  • Payable within one hour.

This is a member loan whose main purpose is to assist members to procure household items. The loan has repayment period of up to 12 months.

Key Features:
  • Payment are made directly to dealers.
  • Active account activity at the FOSA.
  • Disbursed weekly.
  • Guaranteed by members deposits / savings.
  • At least 3 guarantors.

This is a member loan recoverable in Twelve (12) month, Eligibility pegged on FOSA withdrawable deposits, savings account activity and salary.

Key Features:
  • Active account activity at the FOSA.
  • Disbursed fortnightly.
  • Guaranteed by members deposits / savings.
  • At least 4 guarantors.
  • Top-up granted after 4 months.

This is a member loan recoverable in Three (3) month, Eligibility pegged on FOSA withdrawable deposits, savings account activity and salary.

Key Features:
  • Active account activity at the FOSA.
  • Disbursed weekly
  • Guaranteed by members deposits / savings.
  • At least 3 guarantors

This is a member loan recoverable in Twenty Four (24) months, Eligibility pegged on FOSA withdrawable deposits, savings account activity and salary and is recoverable on monthly basis on or before end month.

Key Features:
  • Disbursed once a month
  • Top-up granted ordinarily after 1 year.
  • Guaranteed by members deposits / savings.
  • At least 5 guarantors.

This is a member meant to address development requirements for FOSA members. The loan recoverable in Forty Eight (48) months, Eligibility pegged on FOSA withdrawable deposits, savings account activity and salary and is recoverable on monthly basis on or before end month.

Key Features:
  • Disbursed once a month
  • Top-up granted ordinarily after 2 years.
  • Guaranteed by members deposits / savings.
  • At least 6 guarantors.