a. The loans are fully guaranteed by deposit
b. Repayment period of 6 months.
c. Processed within 24 hours
Salary advance
a. One must be drawing salary through Fosa for at least 3 months.
b. Repayment period maximum of 3 months.
c. Copies of the most recent payslips are required
d. Must be witnessed by a member of society.
e. The salary must have passed through the account for 3 months.
Salary in advance
a. One must be drawing salary through Fosa for at least 3 months.
b. Repayment is a maximum of 1 month.
c. Amount grantable is 50% of the next expected net pay.1/3 rule must be considered.
d. Interest charged is 10%.
e. A copy of the last pay slip must accompany the application.
f. Guarantors is a requirement.
g. 1/3 rule must be considered.
