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 Savings Account
  • M-Boosta Instant Loan
  • TOTO Junior Savings Account.
  • M-Sacco – A mobile based financial service.
  • Fedha Fixed Deposit
  • Mobile Salary Advance.

  • FOSA savings Account

    Features: -Kes 1,000 minimum account balance. -Account can be attached to ATM and Mbanking services. -All Sacco Loans are paid through this account. -Salary can be channeled through this account. -Kes. 200 levied for salary processing. -Kes. 200 for over the counter withdrawal. -kes. 1,500 is levied when closing the account. Kes. 200 bankers cheque.
  • 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
  • Salary Advance

    Features: -Available to all members whose salary is processed through FOSA. -24 months repayment period. -15% pa interest rate. -Processing fee of kes. 10,000 max. -Must be fully guaranteed. -Attach latest payslip. -Facilitative allowance is considered for KDF. This product is now also available on our mobile banking platform and can be accessed by dialing *346#.See the process on this website's home page.
  • Toto Junior Account

    Features: -All registrations are done in our FOSAs -Minimum account balance is kes. 1000 -Minimum monthly savings kes 500. -Minimum interest earning balance kes 5000. -Mode of payment is either cash/standing order/check off. -Account attracts an interest rate of 4.5% per anum payable by the end of every financial year. -Free 3 withdrawals with bankers cheque for school fees(above 3 withdrawals normal charges will apply). -Birthday card/sms for account holders. -Free piggy bank issued for any account holder savings kes 5,000 and above.
  • FOSA share boost Loan

    Features: A member qualifies for half the amount of their deposits e.g with kes. 500,000 deposits a member can qualify for up to kes. 250,000 to take a loans of up to kes. 1,000,000. -20% commission charged on share boost granted. -share boost loan is recovered upfront from loan granted. -1 share boost loan per year.
  • 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
  • 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?
  • 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