QUICK CASH LOAN
| A Quick Kash is a lending arrangement which allows the salary earner to get cash which does not exceed 50% of his net salary. This facility will enable our members to spend their monthly salary before it is credited. |
Targeted Members
- Salaried individual members working in the health sector in Rwanda (public and private)
Benefits
- Quick Kash is easy and quick to arrange (less than 5 minutes);
- Flexible accessibility via mobile phone;
- Enables one to make essential payments pending own receipts / income;
- No limit times fixed (accessible at any time after repayment of the previous loan
- No charges
Eligibility Criteria
- He/She must be a salaried employee;
- Being a member of Muganga SACCO for at least 1 month;
- Regular compulsory savings;
- Being registered in Muganga SACCO Mobile Banking;
- The salary to be channeled at Muganga SACCO for at least one month;
- Having paid membership fees in full (Frw 50,000 of share capital);
- Having 18 years old (Minimum).
Products Features
- Maximum Amount is 50% of member’s net salary;
- Repayment term is 1 month;
- Interest rate is 60 % per annum;
- Disbursed automatically;
- Repayable on the salary of the current month (Capital + Interests);
Requirement
- Having account number in MUGANGA SACCO;
- Muganga SACCO Mobile banking activated.