Muganga SACCO


A scholar loan is designed to help members who wish to upgrade their academic level in the country.
Targeted Customers

  • 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 5 days);
  • Turnaround time of 5 days;
  • Help members to realize their dream of high academic levels without financial constraints. 

Eligibility Criteria

  • Being a member of Muganga SACCO for at least 6 months;
  • Regular compulsory savings;
  • Being registered in Muganga SACCO Mobile Banking;
  • The salary to be channeled at Muganga SACCO 
  • Having paid membership fees in full (Frw 50,000 of share capital);
  • Have an employment contract (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);
  • Having proof of registration in an accredited university or school;
  • Having proof of school fees required.

Products Features

  • Maximum Amount: Dependent on member’s repayment capacity;
  • Repayment term is 24 months;
  • The interest rate is 11% 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): 5 days;
  • Disbursement in installments (Per Term);
  • Payment made to school account.


  • Fulfil and sign Scholar Loan application and loan agreement form;
  • Copy of Identity card/Passport of applicant and his/her spouse (if married);
  • Proof of status certificate of applicant (Marriage certificate; Single certificate, Widow certificate, divorced certificate) found via Irembo services;
  • 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;
  • Proof of registration in an accredited university or school;
  • Proof of school fees required;
  • Any other document requested by credit department to support member’s request.