1) Current/Business Account
- Account ideal for business people.
- No minimum balance.
- Cheque book is issued.
- Overdraft interest of 0.055% charged on daily basis
2) Stop Gap Account
- Account is designed to save for retirement.
- Competitive interest rates which is compounded every year.
3) Ordinary Savings Account:
- An account that can be used to process salaries, pensions, farm proceeds, and normal savings.
- No withdrawal limits.
- Cheques can be deposited into the account
- ATM can be issued.
- Withdrawal can be made via Spotcash
4) Save as you Borrow:
- This is an account specifically for people who are servicing FOSA loans.
- Money can only be withdrawn from this account when a loanee has cleared a FOSA loan and has not applied for another FOSA Loan.
- Monthly contribution is Kshs.200.
- Savings in this account can be transferred to BOSA or premium scheme account.
- Savings in this account can be used to offset a loan balance in case of default.
- Only loanees whose FOSA loans are running through FOSA contribute to this account.
5) Education Account/ School Fees Account
- Account has no minimum balance.
- Minimum Interest earning balance is Kshs.5,000
- Cheques to school given from this account once per quarter.
- School fees loans from BOSA must pass through this account.
6) Fixed Deposit Account
- Minimum amount is Kshs.20,000
- Contract period is 3 months, 6 months, 9 months and 12 months.
- Competitive interest rates above market rates.
- A customer who wishes to terminate the contract before the contract period ends forfeits the interest earned.
7) Premium Scheme Account
- This account is ideal for farmers, business community, registered groups, companies, cooperatives societies and churches.
- Registration fee is Ksh 500
- Minimum monthly contribution is Kes.500.
- Loan granted is three times the deposits.
- Deposits in this account earns dividends of over 10% per annum
- A group intending to open this account must be legally registered.
- To withdraw from premium account membership, one must give a 60 days’ notice.
8) Sacco Junior Account
- This an account designed for children who are between birth and 18 years.
- Free homebanking piggy.
- Free cheque to schools
- Banking day for children every two years.
- Withdrawals are 3 times a year
- Earns interest at a competitive rate
- Free Birthday cards.
- Free entertainment and banking day for the kids.
- Parent must open a different account for each child
- Competitive interest rates earned.
- Minimum interest earning balance is Kshs.2,000.
- Free home banking.
- Account can only be withdrawn 3 times a year.
Requirements for opening the account:
- Parent’s I.D. Card.
- Child’s birth certificate (Optional)
- Fill in application form (Parent)
- No account opening fee.