Loan made to cater everything you need in life

Consumer loan is designed to cater for a wide range of personal borrowing needs including: education fees, Furniture Loan, Travel/Holiday Loan, Consumer Durables (Fridges, Cookers, TV), Wedding Loan, Electronic Accessories (iPAD, Mobile phones, Laptops), Medical and Pension Loan.
  • No additional security is required
  • Credit scoring techniques applied
  • It is based on regular monthly income i.e. salary, rental, pension
  • Loans are of shorter duration than most other bank loans
  • Customer can use the monies for whatever purpose they wish.
  • Current Loan rate is down to 18%
  • 4/5 working days processing period
  • Payment period up to a maximum of 4 years
  • We apply one third of the net income to pay for loans.
  • The eligibility amount is 12 times the monthly pay.
  • The loan is repayable over a maximum period of 48 months (4 years).Some investment loans are approved repayable over 60 months.
  • The maximum amount loaned under this category is Rwf 15M though there are exceptions.
  • Above 18 years of age at the time of application and not older than 70 years at the time the facility matures
  • Earn a minimum monthly salary of FRW 20,000 assigned to your BK account
  • Maximum monthly payments not to exceed 75% of monthly basic salary
  • The duration of the loan is usually tied to the employment contract.
  • The amount is usually unsecured up to Rwf 5M but security may be requested for lower
  • amounts depending on purpose and borrower records.
  • Amounts above Rwf 5M are expected to be secured.
  • One can qualify for a top up loan after a minimum of three instalments and normal fees apply.

The requirements for a consumer loan are as follows:

  • Application letter.
  • Completed application form.
  • Employer certificate which also assigns salary.(Exempt for top up borrowers who have not changed employers).
  • Employment contract indicating the duration of employment.
  • Pay slips for the last 3 months.(Most current pay slip for top up loan request).
  • Valid identification documents.
  • In addition for non-citizens a valid passport, work permit and green card or foreigners identification document.
  • Loan certificate (If purchasing loan from another financial institution).
  • Bank statement for last 6 months if banking with another financial institution.
  • School fees loan : This is for parents/guardians who wish to finance the educational requirements of their young ones. It is also suitable for those employed who desire to pursue the education of their choice.
  • Travel/Holiday Loan : This loan is designed for those who wish to go on holiday either locally or abroad.
  • Wedding Loan : That day is a lifetime memory and it is worth financing it. If you are short of funds to make it exceptional, we are behind your back to make your day a success you wished.
  • Consumer Durables: This is a loan product of Bank of Kigali which enables you to purchase household materials such as Fridges, Cookers, TV, etc.
  • Medical Loan : This loan is for those seeking for specialized medical treatment usually out of the country.
  • Pension Loan : This loan is specifically for the retired citizens who get their monthly pension in most cases from Rwanda Social Security Board (RSSB).
We partner with other retailers and service providers for the mutual benefit for our customers which may include exclusive discounts. In some cases Bank of Kigali will have joint promotions for specific products or services.

Have a question? Find answers here.

Do you need advice?
Call (250) 788-143-000.