Introducing E-Salary Advance
We are pleased to inform you our esteemed member that from the comfort of your home you can now apply for Salary advance through your phone by just dialing *645# and choose option 6 (E-Loan).
Maximum amount is 80% of the net salary (after all deductions) processed through Fosa, Repaid in one installment from the subsequent salary, must have passed Salary through FOSA for 2 months, Attracts an interest rate of 10% of the amount, No guarantors required.
- Available to all members registered on Spotcash and whose salaries pass through our FOSA.
- Advance is available on short code*645#
- Select option no. 6 E – Loan.
- Automatically approved and transferred to the member M – Pesa account.
- Maximum Loan initially pegged at Ksh. 50,000/= and is based on affordability and repayment history.
- Advance interest is fixed at 10% recovered on payment
- Transfer to M-Pesa charges: Ksh. 500 to 1,000 charged Ksh. 45 : Ksh. 1,000 and above charged Ksh 52