Fully secured seasonal agriculture loan granted to the potato farmers.
- Loan amount will be for one year but will be granted in three parts except if the customer is not willing (season A,B and Season C) each season will be disbursed in two phases (Phase 1: Seed pur chase; work force and fertilizers acquisition and phase 2:Crop maintenance and harvesting).
- The amount disbursed in the season will be paid in total plus interests before disbursement of the next season.
- Monthly Interest rate of 2% flat if without weather insurance and 1.65% monthly interest rate flat if with weather insurance.
- Possibility of monthly repayment for willing applicants.
- Rwf 100,000 minimum facility.
- 20% of the Borrower contribution to the facility.
- No RDB security registration for facility ≤Rwf 1million while facility approval will be as per current lending policy.
- Seasonal repayment.
- No need of Loan application to each season.
- TAT of 7 days.
- Potato farming.
- Potato farming project (customer needs statement.
- Application letter.
- RCA Certificate for cooperative/ID copy of the applicant and his guarantor.
- Legal status certificate.
- Valuation report of collateral (done by a valuer which 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.
- Life insurance is mandatory for individuals.
- Potato insurance is an option.
- Notified Board resolution for cooperative.