MagFosa Products and Services
FOSA provides banking services for members. It has its own savings account and credit products. FOSA Business Hours: Monday - Friday (9:00am to 4:00pm). Weekend 1st & last Saturday of the month (9:00am - 12:00pm).
ORDINARY SAVINGS A/C
- Minimum balance is Ksh.500/-
- Interest rate is earned on minimum balance of Ksh.3,000/-
- Members can access their accounts through ATM VISA cards countrywide and and Msacco
SALARY ADVANCE
- Available to members whose salaries are processed through FOSA A/C
- Maximum repayment period is 3 months
- Member's salary acts as the security
- Interest rate is 10%
Bankers cheques
- Processed reasonable fast for Ksh.150/- as you wait
- Charges are reduced when there are special offers from Co-operative Bank
Jijenge LOAN
- Salary must pass through FOSA A/C
- Deduction is through check-off system
- Maximum loan amount is Ksh.500,000
- Maximum repayment period is 36 months
- Interest rate is 1.15%
School Fees Loan
- Maximum loan amount is Ksh.200,000
- Maximum repayment period is 24 months
- Processed through FOSA A/C
- Loan is recovered over the counter - once salary checks-in
- Interest rate is 1.15% on reducing balance
Karibu Loan
- Maximum Loan is Ksh. 500,0000/=
- Repayment Period 48 Months
- Interest Rate 1.25% p.m
- Salary must be processed through Fosa
- Loan granted for newly recruited members within 6 months of joining the sacco
RE-FINANCING LOAN
- Processed at Magfosa
- Available to members who wish to clear existing loans to apply for fresh loans
BOSA Loan Advance
- An advance taken on a loan that is in process
- Commission and recovery is made once loan is approved
M-BANKING
- The M-Banking platform enables our members to transact through their mobile phones at their convenience
- Members can make deposits or boost their shares
- By dialing *850# members get the various M-Banking services
Other services
- M-PESA services
- Monthly salary / Pension processing
- Standing orders
- Boosting of shares
- Off-setting external loans
FOSA Branches
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Mombasa: Shimola Tewa, Mombasa. Tel: 0716853257, This email address is being protected from spambots. You need JavaScript enabled to view it.
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Eldoret: Post Bank House, Uganda Rd, Eldoret, This email address is being protected from spambots. You need JavaScript enabled to view it.
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Ruiru: Ruiru Town, Tel. 0775463716, This email address is being protected from spambots. You need JavaScript enabled to view it.
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Kisumu: Pioneer Building, Oginga Odinga Street, 2nd Flr Rm 205, Tel. 0775613113, This email address is being protected from spambots. You need JavaScript enabled to view it.