Short-Term Loann
Short-Term Loan
Access quick funds for urgent needs - whether personal emergencies, education fees, medical bills, or small business cash flow gaps. Repay comfortably within 1-3 months.
Key Features
- For All: Individuals & business owners
- Fast Processing: 24-hour approval
- Amount Range: RWF 50,000 - 5,000,000
- Rate: 48% APR (Flat Rate)
Who Can Apply?
- Rwandan citizens (National ID/Passport)
- Regular income source (salary/business)
- Mobile money/bank account history (3+ months)
- For businesses: RDB registration optional
Cost Breakdown
| Application Fee | 1.5% (waived for loans < RWF 200,000) |
| Service Charge | 1% monthly |
| Late Payment | 3% penalty + 1% daily interest |
Example: RWF 100,000 loan = RWF 1,500 application fee + RWF 4,000 monthly interest
Security Options
- Household assets (TV, fridge, furniture)
- Mobile devices & electronics
- Two guarantors (for group loans)
- Businesses: Equipment/stock
Note: No collateral needed for loans ≤ RWF 300,000
Payment Flexibility
- Weekly/Monthly installments
- Mobile money (MTN/Airtel)
- Salary deduction authorization
- Cash at agent locations nationwide
