Current/Business Account

• Account ideal for business people.
• Monthly ledger fee of Kshs.300
• No minimum balance.
• Service charge of Kshs.100 per transaction.
• Account operated using special withdrawal vouchers.
• Overdraft interest of 0.17% charged on daily basis.

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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• Money can only be withdrawn from this account when a loanee has cleared a FOSA loan and has not applied for another FOSA Loan.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.
• Only loanees whose FOSA loans are running through FOSA contribute to this account.

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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.

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Stop Gap Account

• Account is designed to fill the gap between a member’s last pay and when he receives his gratuity (monthly pension).
• The amount is only withdrawn on retirement either in lump sum or on monthly basis.
• Minimum monthly contribution is Kshs.500.
• Interest on Savings:

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Education Account/ School Fees Account

• Account has no minimum balance.
• Cheques to school can be drawn to this account.
• School fees loans from BOSA must pass through this account.

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Sacco Junior Account

This an account designed for children who are between birth and 18 years.

• Free Birthday cards.
• Free entertainment and banking day for the kids.
• Parent must open a different account for each child.
• Minimum interest earning balance is Kshs.2,000.
• Free home banking.
• Account can be withdrawn 3 times a year.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.

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Ordinary Savings Account

• Minimum Savings balance is Kshs.1,000.
• Service Charge is Kshs.100 per transaction
• Ledger fee is Kshs.50 per month
• Stamp duty is Kshs.2 per transaction.
• Cheques deposited into the account mature after 2 working days.
• The account holder upon filling a mandate form can give mandate.
• ATM withdrawal charge Kshs.40

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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

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Farmer’s Products

Farm Produce Advance

• Granted to members whose farm produce passes through FOSA
• Competitive interest rate
• Repayment period is 6 months
• Secured by guarantors

Mbolea Hai Loan

This facility enables a farmer to acquire high yield organic fertilizer at affordable monthly installments. It it ideal for specified crops and is fortified with nutrients necessary to give bountiful harvest and is friendly to the soil.

Features

• Member is given 5 mes of ones deposits
• 6 months repayment period
• Competitive interest rate of 1% flat rate
• Insurance fee of 2% and soil tested
• Loan is granted upon approval of the agronomist
• Available to members and non members

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