Fully secured loan granted to cooperatives, motorcyclist belong in cooperatives for personnel transport.
- Repayment depends on the business cycle (monthly, weekly).
- Interest rate is 24% flat.
- Repayment term up to 18 months.
- 20% of customer contribution.
- Facility amount limited to need funds for immediate acquisition of the motorcycle.
- Payment made directly to supplier who ensures registration of the document in cooperative member’s names.
- No RDB security registration for facility ≤Rwf 1million while facility approval will be as per current lending policy.
- Repayable up to 18 months.
- Attractive interest rate.
- Flexibility of weekly repayment.
- In 14days.
- Stop driving for others own your motorcycle.
- Application letter.
- Customer needs statement.
- Company Registration Certificate/ID copy of the applicant and his guarantor.
- Driving license A issued by Government of Rwanda.
- Legal status certificate.
- RRA Tax Clearance Certificate of the cooperative.
- Valuation report of the collateral of 100% of forced value (done by a valuer who has a partnership with UNGUKA Bank Ltd).
- Collateral title documents.
- Act of lending property if the collateral doesn’t belong to the borrower.
- Life insurance is mandatory.
- Motorcycle insurance.
- Proforma invoice or Provision sales agreement.
- Notified Board resolution for companies.