Loan Products

 

Overdraft loan product is a facility that we advance to our valuable members to enable them to cover their needs before their  monthly income or salary is

        Benefits

  • Getting quick cash to make essential payment before monthly salary payment 

  • Automatic Processing after completing the request form

  • Cash collateral (salary of the following month)

        Features

  • Having paid Share capital of Frw 10,000 + Frw 30,000 payable within the agreed terms

  • Membership period: at least 2 months

  • competitive interest rates

  • Maximum repayment period up to 1 month and ceiling loan amount equivalent to 75% of your net salary

  • Accessible at Umwalimu SACCO Branches and at Umurenge SACCOs.

         Requirements

  • Member’s salary passing in Umwalimu SACCO for at least 2 months

  • A copy of Identity Card or passport for foreigners

  • Having paid at least least Frw 10,000 of share capital

  • Fill and sign the application form requesting the overdraft

“Where membership matters” 

Benefits

  • Helps in solving personal emergency issues

  • increase treasury for accessing opportunities

  • Quick access to sufficient amount with less cost

  • Uniqueness of the product

Features

  • Having paid at least Frw 10,000 of Share capital

  • Membership period: at least 2 months

  • Maximum loan duration:

  • 1 year or less depending on the probation period for new members

  • 1-2 years for public and private teachers in primary and secondary schools

  • Loan amount limited to permanent saving for loan duration above 1 year

  • Other members limited to one for amount not exceeding their savings

  • Start with the beginning of the academic year for teacher members and takes the remaining months of the year from the month it is approved depending on whether it is for one or two years

  • Competitive interest rates

  • Loan protection fees: 1.5% for loan amount less or equal to Frw 500,000

  • Immediate processing period:

  • if the amount requested is less or equal to the permanent savings amount

  • if the amount does not exceed Frw 2,000,000 and have 3 guarantors

  • Physical collateral for loan amount above Frw 2,000,000 not covered by the permanent savings

  • Monthly installment not exceeding 75% of net salary after all compulsory deductions in case does not have any other loan

  “Personal Banking at its Best.”            

Benefits

  • Helps in solving personal issues

  • Increase working capital for small businesses

  • Loan Processing period: between1-3 working days if all requirements are complete

  • Access to sufficient amount

  • Competitive interest rate

Features

  • Having fully paid the share capital of Rwf 40,000 for new members starting with January 2018

  • Competitive Interest rates

  • Maximum loan amount:

  • Net monthly pay times 12 backed with collateral (physical or cash) of a value not less than 125% of the loan amount, repayable within 3 years.

  • Net monthly pay times 8 to 10 backed with collateral (physical or cash) if the loan amount is above Frw 2,000,000, and the loan amount repayable within 2 years.

“Give your child an advantage for life” 

Benefits

  • Facilities to pay school fees on time

  • Processing period: between1-3 working days if all requirements are complete

  • Save the dignity of the member

Features

This helps members pay school fees for their children and their own.

  • Competitive Interest rates

  • Maximum Repayment period up to 1year

  • Direct transfer of the amount to school account

“Making our member’s health a priority.”      

Benefits

  • Facilities to pay Medical fees on time

  • Processing period: between1-3 working days if all requirements are complete

  • Save the dignity of the member

Features

  • Share capital of at least Frw 10,000

  • Competitive Interest rates:

  • 13% for Primary and secondary Public schools teachers

  • 14% for Private schools, universities teachers and others

  • Maximum Repayment period up to 1year

  • Direct transfer of the fees amount to the hospital

“Building a bright future together.”         

Benefits

  • Competitive interest rate

  • Enrich members’ knowledge through research

  • Access to e-learning

  • Easy access to asset (Laptop)

Features

  • Product for primary and secondary school teachers both public and private.

  • Interest rates of 11% for all Primary and secondary teachers at Private and Public schools

  • 1 to 3 working days processing period

  • Loan repayment period: 3 years

  • Direct transfer to supplier of laptop

“Go ahead. You can rely on us.” 

Benefits

  • Competitive interest rate

  • Loan processing period: 15 working days

  • Granted home furniture loan amounting to 80% after saving 20% of the total cost of the item to finance

  • The collateral is the same asset purchased

Features

  • Competitive Interest rates

  • 13% for Primary and secondary Public schools’ teachers

  • 14% for Private schools, universities teachers and others

  • Loan Repayment period 1-2years

  • A Valid identification documents of applicant

  • Share capital equals to Frw 40,000 for new members starting from January 2018

  • Direct transfer to supplier of furniture

” The power to help you succeed.”            

Benefits

  • Competitive interest rate

  • Maximum Processing period: 30 working days

  • Finance income generating project hence increasing members’ wealth

  • Increase working capital to expand the business

Features

  • Ceiling ≤ frw35,000,000

  • Competitive interest:

  • 11% for Primary and Secondary Public teachers with loan amount not exceeding Frw 10,000,000

  • 14% for for Primary and Secondary Public teachers exceeding Frw 10,000,000 and all other borrowers’ loans

  • Maximum tenor: 5 years

  • Suitable for individual and group (Members cooperative and companies)

 “We’ll take you further”      

Benefits

  • Competitive interest rate

  • Loan processing period: 15 working days

  • The collateral is the same asset purchased 

Features

  • Ceiling ≤ frw35,000,000

  • Competitive interest rates

  • 13% for Primary and secondary Public schools’ teachers

  • 14% for Private schools, universities teachers and others

  • Loan Repayment period: 5years

  • A Valid identification documents of applicant

  • Share capital equals to Frw 40,000 for new members starting from January 2018

  • The purchased asset shall be the loan security

  • Personal contribution 5% of the total cost of the asset to be purchased

  • Direct transfer to supplier of furniture

“Building better lives together.”

Agriculture and livestock loans are advanced to finance farmers’ requests for agricultural activity which could be production; processing or distribution

Benefits

  • Competitive interest rate

  • Additional income and food security to members

  • Increase working capital to expand

  • Partnership with BDF

  • Quick access to cash to meet agriculture requirements (seeds, fertilizer, land rent, tools, harvest)

  • Protect harvest against speculators

  • Facilitate process of mechanization and agriculture transformation

Features

  • Ceiling: ≤ 35, 000,000

  • Competitive interest rates: 11% -14% for Primary and secondary Public teachers and 14% for others (11% <10,000,000 Frw) and 14% ≥10,000,000 Frw for others)

  • Loan processing period: 15 working days

  • Repayment period: 6 months to 2 years depending on the product financed

  • Grace period (moratorium): between 3-6months

  • Suitable for individual and group (Members cooperative and companies)

“Dream house, Make it happen.”                  

Benefits

  • Competitive interest rate

  • Own a house with low income

  • Used as loan collateral

  • Protect against renting stress and risks

  • Increase household wealth

Features

  • Ceiling: ≤ frw35,000,000

  • Competitive interest rates: 11% for Primary and secondary Public teachers for amount not exceeding 10 million and 14% for public teachers who get above Frw 10,000,000 and all other members.

  • Maximum loan processing period: 30 working days

  • Maximum tenor: 10 years

  • The property purchased or under construction serves as collateral

  • The property is insured against perils to protect the interest of the borrower and the Institution

 

 

Benefits 

  • Helps schools to resolve cash flow issues especially salary payment during this period of COVID-19.

  • Quick access to money at a low cost.

  • Insure financial stability to our private teachers.

Features
  • Both existing and new members can apply for this loan.

  • Maximum Loan Duration : 24 months and the payment is done on a quarterly basis.

  • Interest Rate : 13% per annum.

  • Payment starts from the end of September 2020.

  • Salary directly paid to the beneficiary teachers’ account in Umwalimu SACCO.

  • For further details. Please download the form below.

  •   IRAMIRO LOAN (unknown, 138 hits)