Marie Chantal Iradukunda has always desired to own two houses. Not scared off by the commitment, Iradukunda's sole worry was money. She wondered how she was going to afford a new home without jeopardizing her family's current financial situation and without having to wait for a long time. After assessing her options, she opted for ‘Home Equity Release’, which confirmed to be the shot in the arm she had hoped for. The secured long-term loan, recently launched by Cogebanque, accommodates the needs of clients who have a previous mortgage loan that they have been paying off in installments or with a free mortgage. The equity loan is determined by the paid value and current market value of one’s house, allowing them to access funds to finance their plans. The Home Equity Release gives you access to a secured loan at lower-cost financing, a flexible amortization schedule, quick access to cash, and a repayment period up to ten years, all with no prepayment charges. Cogebanque offers top-up options, ensures a fast turnaround time, and allows you to access the credit card. For the whole duration of the loan, the advisory is available for the intended investment. Salary earners, pensioners, and other individuals just need to present the monthly revenue statements from their salaries or rentals for the previous three months, to cover the monthly payback amount plus interest, must have up to 50 per cent of one’s monthly household income available. You also need to give the bank the house as collateral for the duration of the loan, the household income (including the client and spouse salaries and any additional income) which must be deposited in a joint account at Cogebanque. Also retail traders’ applications should include a one-year bank statement and tax returns. “This sort of mortgage is designed to suit personal needs ranging from consumption to investment,” explained Pierre Seruhungu Nsengiyumva, Head of Retail Banking at Cogebanque. He added that no interest is charged when the loan is paid in advance, and that the payment period can vary depending on the clients’ preference. Just visit your nearest Cogebanque branch or call 5050 for more information, he said. ABOUT COGEBANQUE Cogebanque Plc, a Rwanda-based commercial bank, which started in 1999, licensed by the National Bank of Rwanda. It is one of the fastest growing banks in Rwanda and today has 28 branches, over 600 agents, and 36 ATMs across the country. These are supported by Mobile banking (USSD on *505# and Mobile App “Coge mBank”), Cards (Mastercards, Smart cash and SafariBus), SchoolGEAR and internet banking delivery channels accessible through different media. Cogebanque has been serving Rwandan industries for over 23 years with innovative services to its customers and has positively influenced the Rwandan economy. It provides a comprehensive range of products and services targeted at corporate, SMEs and retail customers.