BENEFITS OF A FOSA ACCOUNT
- Free account opening
- No ledger fees /monthly charges
- Affordable charges
- Quicker or faster loan processing
- Faster payment of dividends, Burial Benevolent fund & Risk Claims
- Bridging/Loan Top up facility available
- A Mwalimu Debit card –
- Credit facilities/Advances
- Mobile banking
- Internal and external standing orders
- Early salary processing
- Funds transfer – RTGS and Bankers’ cheques
- Cheque clearing
- Competitive interest on savings account with balance of 6, 000 and above
- ATM services
- Internet Banking
FOSA ACCOUNTS
Our FOSA members can open one or more of the following accounts:
- SAVINGS ACCOUNT: Enjoy no ledger charges and earn interest on savings at the end of every
- SAVE AS YOU EARN (SAYE): Used to save for a certain period for a particular purpose after which one can access the
- FIXED DEPOSIT ACCOUNTS: earn interest at competitive rates with our fixed deposit
- SCHOOL FEES ACCOUNT: can be used to set aside funds for school fees, to be accessed at that time it is
- HOLIDAY ACCOUNT: save and take some time out yourself or with your family with our holiday
- JUNIOR ACCOUNT: an account used by our members to put aside funds for their children and also helps teach the young ones the importance of saving and helps them acquire a saving culture as they grow
- BIASHARA ACCOUNT: is an account tailor made for members operating their businesses
FOSA ADVANCES
Type of Advance Maximum Amount issuable Twelve (12) months’ advances Net Salary x 12 or SAYE x 12 Thirty (30) months advance Net Salary x 20 or SAYE x 20 Thirty six ( 36) months advance Net Salary x 20 or SAYE x 20 Salary – in – advance 80% of the expected Net Salary Advance against expected Dividend Issued between October and the Dividend issuance month
TSC Circular on Updating of data on registered teachers not currently employed by the Teachers Service Commission
Mwalimu National Sacco Loans & Repayment Schedule (BOSA Loans)
Latest TPAD Teacher’s Checklist of TSC Professional Documents
Official Kuppet BBF Guidelines For All Branches