HIRWA Secured Loan
The Anchor Finance HIRWA Secured Loan is designed for individuals seeking financial support with collateral backing. This loan is available for salaried employees or individuals with a stable income source and provides funds for personal or professional purposes. It offers flexible repayment terms and is ideal for meeting urgent financial needs such as education, medical expenses, or business capital.Key Features of the HIRWA Secured Loan
Below are the key features of the HIRWA Secured Loan:
- Loan amounts from Rwf 1,000,000 to Rwf 50,000,000
- 4.5% monthly interest rate (54% per year, flat rate)
- 1% + VAT application fee
- 2% + VAT disbursement fee (paid upfront)
- 10% monthly late payment penalty on principal
- Payment frequency: Bullet payment at loan's end
- Tenure: 1 to 6 months
-
Types of accepted collateral:
- Immovable assets
- Movable assets
- Bonds
- Fixed bank savings
-
Collateral coverage ratios:
- In Kigali city: 70% of forced sale value
- In Satellite cities (Rubavu, Musanze, Bugesera, Huye): 50% of forced sale value
- In the remaining areas: 20% of forced sale value
Loan Requirements
Below are the mandatory documents required to apply for the secured Hirwa Loan:
- Loan application letter (amount, purpose, tenure, collateral details)
- ID copies of both the borrower & spouse (if any)
- Marital status of the borrower
- Employment contract indicating terms and conditions of employment
- Stamped pay slips for recent 3 consecutive months
- Current salary certificates
- Bank statement for the last 6 months
- Collateral valuation report by certified valuer
