Mwalimu National Sacco Circular on 100%  waiver of all  top-up charges on all BOSA loans and FOSA advances

Mwalimu National Sacco, MNS, has issued a Circular on 100%  waiver of all  top-up charges on all BOSA loans and FOSA advances. The Sacco has also reviewed the interest rates and repayment periods for all loan products. Download the full circular in pdf, below, for your reference.

Mwalimu National
Mwalimu Towers,
Upper Hiff, Hiff Lane, Off Mara Road
P.O. Box 62641 City Square, Nairobi, Kenya
Tel:     +254 (0) 020 295 6000
Cett:  +254 (0) 709 898 000
Website: www.mwatimunationat.coop
Our Ref: MW/2265/AD/47A
To All Members
MWALIMU NATIONAL
Dear Members,

RE: STRATEGIC REVIEW OF PRODUCT OFFERING AND  POLICY INTERVENTIONS

As part of our commitment  to  ensuring  enhanced  financial  access  mirrored  on  the  long-term financial  sustainability of MNS and optimizing our product offerings,  the Board of Directors  and Management  in  their  meeting  held  on  28th May 2026  considered  and  reviewed  our  various policies and loan products effective immediately as follows;

1. Limited-Time Waiver on Top-Up Charges

To provide financial relief and support members seeking to consolidate or access more credit,  a 100%  waiver  of all  top-up  charges  on all BOSA  loans  and FOSA  advances  has been  considered. Applicable Period: 2nd June 2026 to 30th June 2026 (One month only).

Download the full circular here, for your reference: MNS Circular on Strategic Review of Product Offering

2. Reviewed Interest Rates and Tenures

To realign our business  to   the current  Macro economic  landscape where  the government  seeks to support price stability as well as drive   structured  asset growth,  interest rates  and maximum repayment tenors(periods) for the following products  have been reviewed and set as follows:

i). Review of Bosa Products as below:

ii). Review of  FOSA  Instant  Advances  lending  terms   for  a  period  of  3  months  to  3Oth August 2026 subject to tight  credit risk evaluation

3. Introduction of the “Retirement Savings Plus Account”

We are proud to launch a new FOSA savings sub-account specifically engineered to help members build a secure, long-term  financial cushion for their sunset years.

Key Features & Benefits:
a)   Flexible   Remittance:   Contributions   can   be   made   seamlessly   via   monthly   check-off, Standing Orders (STO), Direct Debts, Mwalimu USSD, or the Mhela Platform.
b)   Guaranteed  Return:  High-yielding  interest  rate  of  10%  p.a.,  ploughed  back  into  your account annually.
c)    Zero Maintenance Fees: No operational or monthly maintenance charges will be levied on this account.
d)   Collateral Utility: Savings accumulated in this account can be used as security/guarantee for BOSA loans.
e)   Withdrawal  Policy:  To  protect  the  integrity  of  your  retirement  plan,  funds  can  only  be accessed   upon  attaining   the  aged   of  55  years,  at  actual   retirement,   or  upon  formal withdrawal  of membership  from the Sacco.
f)    A  post  retirement   medical   contribution   towards   ensuring  seamless   transition   from
employment sponsored medical scheme and continue access of modest medical cover.

Download the full circular here, for your reference: MNS Circular on Strategic Review of Product Offering