Question 1

What is FOSA LOAN?

Accepted Answer

This facility enables salary account holders to access short-term loans, repayable over a period of 12 Months.

Question 2

What are the Key Features if FOSA Loan?

Accepted Answer

Third rule apply. Interest rate at 2% p.m. On reducing balance Payable through FOSA salary accounts.

Question 3

What happens to my Salary Account?

Accepted Answer

The member signs irrevocable instructions to have their salary pass through FOSA Salary should have passed through FOSA for at least 3 months

Question 4

Are my Shares Affected?

Accepted Answer

Fully guaranteed. FOSA Loan is Not pegged on shares/savings but on salary.

FOSA LOAN

CHUNA SACCO SOCIETY LIMITED
"the university Sacco"