Personal Loan


Product Description

Fully secured salary loan to employees with employment contracts in all organizations in Rwanda and pensioners.


Features
  • Repayment is monthly (Capital+Interests).
  • 5% of monthly instalment Post savings 4% of interests as late payment penalty.
  • Interest rate is 20% declining.

Benefits
  • 16 times your net salary.
  • Repayable up to 4 years.
  • In 7 days.
  • Loan facility for Consumer, Construction, Asset finance, Marriage, School fees, Medical treatment, Buying a car, Holydays etc.

Requirements
  • Employment contract.
  • Salary certificate from employer.
  • The latest two months original certified pay slips.
  • Attestation and commitment letter of employer.
  • Application form (borrower’s address, loan purpose, duration, source of repayment and collateral’s address)
  • ID copy of the applicant and his guarantor.
  • Valuation report of the collateral of 100% of forced value (done by a valuer who has a partnership with UNGUKA Bank Ltd).
  • Collateral title (land, factory, car etc) and movable security documents.
  • Act of lending property if the collateral doesn’t belong to the borrower.
  • Proof of legal status (marriage certificate, certificate of celibacy, widowhood, ...).
  • Life Insurance is mandatory and paid on disbursement.
  • Fire Insurance if it is a house starting from a loan of 3Million if it is a car it will have omnium insurance.