FOSA means Front Office Service Activity a.k.a banking hall (branch).
These are salary advances to members to help them sort out small financial challenges afflicting them from time to time provided their salary passes through his/her FOSA a/c.
• Prestige advance – 4 times of your net pay
Repayment period is 10 months @6% interest rate p.m.
• Ordinary advance – 3 times of your net pay
Repayment period is 6months@4% interest rate p.m.
• One-Month Advance – 2/3 of your net pay
- Repayment period is 1 month @2% interest rate p.m.
• Dividend Advance – during annual dividend payment @5% p.m. as determined by Management Board.