Muganga SACCO


Emergency Loan is a loan that helps Muganga SACCO members to get cash in emergency situations.Members  typically need those loans right away to cover unexpected payments. Emergency Loans may be requested for any number of reasons such as: Vehicle repair, Hospital bills, School fees, Funeral expenses, Replacement of household equipment etc…….

Targeted Members

  • Individual employed members working in the health sector in Rwanda (public and private);
  • Self-employed members of MUGANGA SACCO, Cooperatives, association, companies of members operating small   scale businesses.


  • Quick loans, rapid and flexible to access (not exceeding 2 days);
  • Financial facility to overcome liquidity problems;
  • Turnaround time of 2 days;
  • Allow members to get an advance on his/her savings.

Eligibility Criteria

  • Being a member of Muganga SACCO for at least 3 months;
  • Regular compulsory savings;
  • Being registered in Muganga SACCO Mobile Banking;
  • The salary to be channeled at Muganga SACCO for at least 1 month;
  • Having paid membership fees in full (Frw 50,000 of share capital);
  • Have an employment contract /Appointment letter (not in probation);
  • Having 18 years old (Minimum);
  • Having regular income for non-employees (Business, Rental, livestock, etc…….) and be channeled to Muganga SACCO at least 3 Months;
  • Have an adequate credit history for borrowing;
  • Must not have the loans in arrears in MUGANGA SACCO or any other financial institution in Rwanda (blacklisted by Credit Reference Bureau).

Products Features

  • Maximum limit is a member’s savings and repayment capacity (Not exceeding Member’s savings amount);
  • Repayment term is 24 months for public clinical and Para clinical staff, and 12 months for other members;
  • Interest rate is 16% per annum (declining);
  • Repayment capacity is 50% of the monthly net salary. If combined with other commitments cannot exceed 75% of salary;
  • Repayment is monthly (Capital + interest);
  • Turnaround time (TAT): 2 days;
  • The emergency loan can clear the outstanding on salary advance loan and likewise;
  • The emergency loan renewal does not require the member to have paid up to a half of the facility (as longer as the member has not exhausted the limit of his savings).


  • Fulfil and sign Emergency Loan application and loan agreement form;
  • Copy of Identity card/Passport 
  • Salary certificate and employer engagement;
  • Loan commitment form;
  • Subcommittee recommendation letter;
  • Employment contract or appointment letter;
  • Proof of income for self-employed members;
  • Account statement of other for at least 12 Months for self-employed members;
  • Tangible collateral of compulsory savings for self-employed members;
  • Any other document requested by credit department to support member’s request.