Project Savings

Project Savings


Product Description

This account allows to save for your future and for your dream projects. It can also serve as contribution of targeted project to be financed by the Bank.


Features
  • Bearing interest from a balance of Rwf 50,000.
  • Minimum monthly contribution of Rwf 30,000 for mortgage and project savings.
  • Opening and minimum balance is Rwf 30,000.
  • Client contribution should be equal to 20% of the future loan amount.
  • One withdraw per quarter is allowed (using internal voucher).
  • Exceeding withdraw limit per quarter the customer loses the quarterly interests.
  • Non regular monthly contribution customer loses the benefit related to loan.
  • Property purchased will serve as collateral.
  • Interest rates are computed on daily closing balance and payable on a quarterly basis Benefit of Mortgage, Education and Project loan with a discount of 0.5% interest rate.
  • The minimum savings period is 12months for mortgage savings and project savings , 6months for education.
  • No account maintenance fee.

Benefits
  • Customers achieve their dreams.
  • Secured income growth.
  • Competitive interest.
  • Accessibility of withdraw.
  • Targeting loan facilities.

Requirements
    Individuals
  • Fill an account application form.
  • ID or passport, for account owner and for signatory if any.
  • Resident permit/Visa/employment letter for foreigners.
  • Not blacklisted (UN sanction list, BNR list, CRB etc).
  • Passport size photo for account owner and signatory if any.
  • Acceptance of terms and conditions.

  • Companies
  • Fill an account application form.
  • FCertificate of registration.
  • ID or passport, Passport size photo for signatories.
  • Not blacklisted (UN sanction list, BNR list, CRB etc).
  • Board resolution for opening account and signatories.
  • Memorandum or articles of Association if applicable.
  • Acceptance of terms and conditions.

  • Associations, Cooperatives, Friend Groups, Chorus funds
  • Fill an account application form.
  • Full RCA Certificate of registration and full company registration document.
  • RGB, RCA Certificate of registration.
  • MOU for Friendly Groups, Chorus funds and Mutual funds.
  • ID or passport, Passport size photo for signatories.
  • Not blacklisted (UN sanction list, BNR list, CRB etc).
  • Minimum balance of Rwf1000 and $2 in foreign currency.
  • Board resolution for opening account and signatories for cooperatives and Associations.
  • Governing Board resolution for opening account for Friend Groups, Chorus funds and mutual funds