The Procedures and Features of the products:

  • The applicant must attach a certified copy of the contract document as a proof of engagement indicating the remaining term.
  • Expected income must be channeled through FOSA.
  • The Loan amount is 2 times the deposits.
  • The interest rate will be at 8% per month on a reducing balance
  • Loan amount will be determined by appraisal subject to a maximum of Kshs 20,000.
  • The repayment period will be 5 months or the remaining term of the contract.
  • The loan to be guaranteed by at least 3 permanent employees.

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