No collateral needed for financing salary earners
Advantages
Fast processing
and disbursement within 2days
Avoid large
one-time cash outflow
Product features
- Maximum loan amount: For individuals: up to 10,000,000 FRW unsecured, for Businesses: up to 50,000,000 FRW unsecured. Above these, a collateral will be required
- Repayment ratio: As maximum as 50% of the net salary after deducting any other loans you may have.
- Duration : Not exceeding 1 year
- Interest rate : 0%
- Loan processing fee : Free
- Management fee : one-time 10% paid upfront
- Type of financial assets : Financing comprehensive vehicle insurance premium
- Compulsory insurance:Life insurance/Individual accident for pensioners
- Subscription Age:From 21 years old
A relationship manager is available to give you all the information you need about the loan amount, application, repayment term, insurance premium and other documents deemed useful.
ELIGIBILITY CONDITIONS
- Being a BANK OF AFRICA customer
- Being a salaried/pensioner
- Completed probation period for salaried
- Contract validity covering the length of the period of the loan
- Salary/pension domiciliation to BOA current account
Documents required
- Loan application letter
- Copy of national Identity card
- Salary certificate
- Bank statements
- Yellow card
Additonal for companies :
- RDB certificate
- Board resolution relating to the loan request
For materializing quickly
Make a phone appointment with an advisor
We will contact
you within 48H
A DEDICATED RELATIONSHIP
MANAGER/OFFICER
PERSONALIZED
SUPPORT
