Front Office Services Activities (FOSA) is the banking arm of Mwalimu National that provides basic and affordable banking services to meet members’ needs.



Salary in Advance

  • The Interest Rate is 5%.
  • Maximum amount borrowed is 80% of your net salary or S.A.Y.E
  • Repayable @ the end of the month

FOSA Instant Credit(24 Months)

  • FOSA instant credit (24 months)
  • Interest rate @ 1.5% per month on reducing balance
  • Repayment period is 24 months.
  • Maximum amount granted is your savings under S.A.Y.E x16

FOSA Instant Credit(12 Months)

  • Interest rate is 1.25% Per month.
  • Repayment period is 12months.
  • Maximum amount granted is your net salary x16.
  • Maximum amount granted is your savings under S.A.Y.E x10.


Interest rate is dependent on the repayment period in that;

  • 1 month¬† ¬†@ 5%
  • 2 months @ 6 %
  • 3 months @ 7%
  • Maximum amount a member can borrow is up to 80% of his/her net salary or S.A.Y.E
  • Principal and interest amounts are recoverable at the end of each month.

Advance Dividends

This is a percentage of expected dividends that are normally paid earlier.

  • The interest rate is between 7.5% and 5% depending on the time a member requests for the advance dividends.
  • The maximum amount requested is 75% of your expected dividends.


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