Anchor Finance Tax Clearing Loan
The Anchor Finance Tax Clearing Loan is tailored for businesses or individuals who need to clear tax obligations and other related duties. This loan offers flexible terms to help clients manage tax payments while maintaining their business operations.
Key Features of the Tax Clearing Loan
Below are the key features of Tax Clearing Loan:
- Loan Amounts: Minimum Rwf 300,000, Maximum Rwf 50,000,000
- 4.5% monthly interest rate (54% per year, flat rate)
- 1.5% + VAT application fee
- Late Payment Penalty: 40% monthly on the arrears (calculated on the principal amount)
- Payment frequency: Bullet payment at loan's end
- Tenure: 1 to 6 months
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Types of accepted collateral:
- Immovable assets
- Movable assets
- Bonds
- Fixed bank savings
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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 Tax Clearing Loan:
- Loan Application letter (including: amount needed, purpose of the loan, location of the collateral stock)
- Business background
- Business certificate from RDB
- Proof of no outstanding loan from RRA
- History of the bank account (12 months)
- History of MomoPay account (3 months)
- 29,500 FRW application fee
- List of how the loan will be used
