FOSA Products and Services
FOSA Products at a Glance
- Processing payment of salaries done immediately cheques are received.
- Immediate payment of members loans upon receipt from the Society (BOSA).
- Clearing of third party cheques.
- ATM Cards: MWITO SACCO is currently in partnership with Co-op Bank to provide ATM services to our members across the country.
- Standing order facility.
- Sale of Co-operative Bank bankers cheques.
- Safe custody services for valuable documents and certificates.
FOSA (Front Office Savings Account)
REQUIREMENTS
- Copy of ID and presentation of original ID for verification
- Two coloured passport photographs,
- Minimum account balance amount of Kshs 500
- Sacco link card.
REQUIREMENTS
- Minimum balance of Kshs 500.
- Interest earning kshs 5,000.
- Child operates account at age 18 yrs.
- No penalty on amount below minimum for 1st 6 months
CHIDREN/MTOTO ACCOUNT
Holiday Savings Account
REQUIREMENTS
- Minimum monthly savings Kshs 1000.
- Minimum savings period will be six months.
- Withdrawal will be once in a year.
- Attractive interest rates.
- One loses interest in case of premature withdrawal.
REQUIREMENTS
- Minimum monthly savings kshs 1,000.
- Withdrawal once in a year.
- Attractive interest rates.
- Interest credited at the end of the year.
Education Savings Account
Group Account
REQUIREMENTS
- Copy of ID and presentation of original ID for verification.
- Two coloured passport photographs, of the three group signatories.
- Group by Laws, and Minutes authorising account opening.
- Certificates of registration from the social Services.
- Minimum account balance amount of Kshs 500 and passbook at kshs
REQUIREMENT
- Instant salary processing
- Competitive salary processing fee
- Salary in Advance – Full net salary at 10% interest rate.
- 24 hr access to funds through Mwito Sacco Link VISA branded ATMs and POS
- Mobile banking
- Internet Banking
SALARY IN ADVANCE
FOSA Advance
REQUIREMENT
- To all members who process their salary through Fosa account.
- Maximum of kshs 150,000.
- Repayment period of 12 months.
- Instant processing.
- 5% interest rate.
- Bosa loans must be performing according to terms.
REQUIREMENT
Enable members on IFMIS,IPPD payroll & Other Company payroll or those abroad to:
- Transfer funds electronically (EFT) and process their salary through Fosa
- Channel their pension/provident fund through Fosa
- Boost their Deposit/Savings through RTGS and SWIFT
SACCO LINK 360
