Muganga SACCO

Muganga Sacco

About this app

Muganga SACCO is an instant personal loan app for salaried health professional registered with Rwanda Muganga SACCO(Saving and Credit Cooperative).
With this app you can avail instant personal loans starting from Rwf 1,000 to Rwf 25,000,000 and receive the money in your bank account instantly.
With this app, applying for an instant loan is now an easy and hassle-free experience. So, download the Muganga SACCO personal loan app now.

Features of Muganga SACCO – Personal Loan App:
✔️ Personal loans ranging from Rwf 1,000 - Rwf 25,000,000
✔️ Flexible repayment period with maximum of 5 years repaymnet
✔️ Instant disbursal of the instant loan amount to your bank account
✔️ Repay the loan monthly

Muganga SACCO Products
💰 Personal Loans
Get personal loan from the Muganga SACCO easy loan app to take care of your needs! Choose from various types of quick personal loans like Overdraft loan, Emergency Loan, Salary Advance, car loans, Mortgage Loan, education loans, etc. with a tenure ranging from 3 months to 5 years.
💸 Earn a competitive rate of interest on savings with our voluntary saving account and term deposit accounts.
💵 Enjoy Instant transfer of money from your Bank account to your other financial service providers such as MTN, and other Rwandan banks

Salary Advance Eligibility:
✔️ Being a member of Muganga SACCO for at least 6 months;
✔️ Regular compulsory savings;
✔️ Having 18 years old (Minimum);
✔️ Have an adequate credit history for borrowing.

How to Apply For Loan Online on Muganga SACCO App?
➡️ Download and log in to the Muganga SACCO app.
➡️ Submit the KYC documents and apply for an instant personal loan.
➡️ Your loan amount will be transferred directly to your bank account post approval.

Documents required to apply for a loan:
✅ Fulfil and sign loan application and loan agreement form;
✅ Copy of Identity card/Passport of applicant and his/her spouse (if married);
✅ Loan commitment form;
✅ Recommendation letter;
✅ Employment contract or appointment letter;

Interest, tenures, and other specifications
➡️ Minimum Annual Percentage Rate (APR) – 5%
➡️ Maximum Annual Percentage Rate (APR) – 17%
➡️ Repayment Tenure: 3 months to 18 months
➡️ Application fee:
Personal Loan - 0.5% % or Frw 5,900, whichever is higher
Loan requiring Collateral Visiting - 0.5% % or Frw 59,000, whichever is higher
➡️ Facility Fee: Maximum of 2%

What makes Muganga SACCO ideal for every member?
✅ Easy online savings
✅ Easy online personal loans
✅ Low instant loan interest rates
✅ Hassle-free loan application process
✅ Quick approvals and instant loan disbursal
✅ Flexible repayment terms

Sample Loan Calculation
Loan amount: 500,000 at fixed interest rate of 5% p.a
Loan duration: 3 Months
Total personal loan interest = Rwf 500,000
Processing fees (PF) = Rwf 5,900
Facility fees (FF) = Rwf 10000
Total deductibles (PF + FF): Rwf 15,900
In-hand amount (Loan amount - Total deductibles) = Rwf500,000 – Rwf 590 = Rwf 484,100
Total repayable amount (Loan amount + interest): Rwf 548,224.01
Monthly EMI repayable (Loan amount + interest / No of EMI’s): Rwf 166,666.67
(Note: PF and FF are deducted upfront during the loan disbursal.)

🔒 Data Security via Secure Loan Application
Muganga SACCO is committed to promoting best practices in digital lending and adheres to RBI’s Fair Practice Code. All Muganga SACCO transactions are secured via 128-bit SSL encryption.
Download the Muganga SACCO personal loan app now and experience a new financial saving and credit!

📧 Contact Us:
Reach out to us at [e-mail]

What's new

Added Support for Android V14