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.
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FOSA (Front Office Savings Account)

Mwito Fosa

REQUIREMENTS

  • Copy of ID and presentation of original ID for verification
  • Two coloured passport photographs,
  • Minimum account balance amount of Kshs 500
  • Interest earning balance is kshs 5,000
  • 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

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Holiday Savings Account

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REQUIREMENTS

  • Minimum monthly savings Kshs 1000.
  • Minimum savings period will be six months.
  • Withdrawal will be once in a year.
  • Interest will be 8% annually calculated monthly.
  • 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

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Group Account

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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

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FOSA Advance

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REQUIREMENT

  • To all members who process their salary through Fosa account.
  • Maximum of kshs 100,000.
  • Repayment period of 6 months.
  • Instant processing.
  • 5% interest rate.

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

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