FOSA Products

Front Office Savings Activity (FOSA)

The society started with the first FOSA in year 2001 in the society’s head office. The FOSA was set up to offer the following services:

  • Member savings accounts.
  • FOSA personal loan.
  • Salary advance.

Today, the Harambee Sacco FOSA unit has improved its range of products and service aimed at giving our members affordable and friendly services. These include:

  • FOSA Saving Account
  • FOSA Bridging Finance Product
  • FOSA M-Banking
  • M-Sacco – A mobile based financial service.

  • SALARY IN ADVANCE

    Features: Maximum amount is 90% of the net salary processed through fosa Repaid in one installment from the subsequent salary Salary must have passed through FOSA for 3 months Attracts an interest rate of 6% of the amount No guarantors required
  • (b) FINJE CHAP CHAP

    Features: Maximum advance amount of 4 times your net pay subject to maximum of Ksh. 50,000.00. Minimum Advance of Ksh. 5,000.00 Maximum repayment period of 4 months Interest rate at 12% of the advance amount, recovered upfront Processing fee of 1% of the advance recovered upfront Facilitative allowance considered for KDF members The Loan must be fully guaranteed Requirements Salary processed through FOSA for two consecutive months 2 Current pay slips Must have been a member for at least 2 months
  • (c) JISORT ADVANCE

    Features Maximum amount Ksh. 200,000.00 subject to 3 times of your net pay Minimum Advance of Ksh. 10,000.00 Maximum repayment period 6 months The Loan must be fully guaranteed Processing fee of 1% of the advance recovered upfront Interest rate at 10% of the advance amount, recovered upfront Facilitative allowance considered for KDF members Requirements Salary processed through FOSA for two consecutive months 2 Current pay slips Must have been a member for at least 2 months
  • (d) JIBAMBE ASSET LOAN

    Features Maximum advance amount - 4 times of your net pay subject to maximum of Ksh. 100,000.00 Minimum Advance of Ksh. 5,000.00 Maximum repayment period 12 months The Loan must be fully guaranteed Interest rate at 10% of the advance amount, recovered upfront Processing fee of 1% of the advance recovered upfront Facilitative allowance considered for KDF members Requirements Salary processed through FOSA for two consecutive months 2 Current pay slips Must have been a member for at least 2 months PAY SLIP FEATURES TO CHECK WHEN CALCULATING A MEMBERS LOAN: For a member to qualify for a Harambee Check-Off Loan, the following areas are checked against their pay-slip: What is the Member's Personal Numbers? What is the Member's Basic Salary? What are the Member's Total Deductions? Does the Member's salary meet the 2/3 rule? If the member's total deductions are more than the 2/3 of their basic Salary, the Member does not qualify for a loan. When perusing a member's Loan Application Form you check out for the following: Is the form fully and adequately filled? Has the member capture all his personal details? Has the member stated the amount they are applying for? If the loan has guarantors', have they signed the form adequately? Has the pay-roll section of the member's employer approved that the loan can be processed?

Download Our Product Catalogue