Ecobank Rwanda has unveiled a new unsecured loan facility that enables salaried employees to access up to Rwf60 million without collateral, in a significant move to expand access to credit and support individuals in achieving their financial ambitions. The facility offers a standout and flexible repayment period of up to six years, giving customers ample time to plan and manage their finances comfortably while ensuring that monthly repayment obligations remain affordable, making it a uniquely convenient feature for customers seeking long-term financial flexibility. “We don’t ask for collateral. If you receive a salary, we consider that salary to be the source of repayment,” said Leonard Gahonzi, Head, Premier Banking and Affluent Market The product is specifically designed for salaried professionals who have stable income streams but face challenges accessing substantial financing due to a lack of conventional collateral. Loan eligibility is determined based on the applicant’s salary and repayment capacity, with a maximum borrowing limit of Rwf60 million, paired with the flexibility of spreading repayments across up to six years which positions the product as an attractive option for a broad range of professionals seeking financing for investments, home improvements, education, or major life commitments’’ added. According to Gahonzi, the facility gives customers the freedom to use the funds according to their priorities rather than restricting spending to specific purposes. “When a customer receives this financing, we don’t restrict how it is used. It can support property acquisition, business investment, education, or any personal financial goal,” he said. Salaried customers are encouraged to visit their nearest Ecobank branch to apply, with the bank offering a fast, straightforward process designed to deliver quick approvals and a seamless customer experience. The bank emphasises that the product is competitively priced, with a structure designed to keep borrowing costs manageable. Certain fees are charged only once rather than recurring throughout the loan term, while the extended repayment period helps ease monthly financial pressure. The launch of this collateral-free loan facility reinforces Ecobank Rwanda’s commitment to delivering practical, inclusive, and flexible financial solutions, positioning the bank as a trusted partner for customers across all segments.
