Every now and then, one needs access to a short term credit facility free from tedious processes to settle emergencies or pursue fast-emerging opportunities. In response to market demand, Cogebanque introduced Gisubizo Loan Express, an unsecured facility that meets short term financial needs of the bank’s customers to cover expenses such as medical bills, utility bills, school fees, car repairs and holidays, among other needs. Gisubizo Loan Express eligibility requirements include having a regular monthly income with a contract with an employer, business partner or client(s). The Bank also requires a borrower to have proof of regular monthly income for at least the past three months, willing to commit up to 50 per cent of their monthly household income and have a clean TransUnion Report (CRB report). Gisubizo Loan Express allows borrowers to access up to fifteen times one’s net income with the duration of the loan repayment being up to 5 years. In addition, borrowers can also get Cogebanque credit cards with up to 55 days’ interest-free period. The bank says that the loan has a fast turnaround time which is in part due to the less stringent requirements, and a renewed focus on the bank’s retail clientele. The loan has a flexible repayment schedule which is based on payment capacity and no penalties for clients who wish to pay it off before the end of tenure. The lender also has other quick loan products such as overdraft facilities for salaried employees to be repaid by a hedge account upon receipt of the next salary or spread over months. The overdraft facilities by the lender are for employees who receive their salaries through Cogebanque accounts and can come in handy to finance different expenses. Clients who were previously working with other banks can submit their original bank statements for the last three months showing the salary credit history. Having existed on the Rwandan market for over 20 years, the institution has made constant innovative upgrades to their services, products and financial solutions to the Corporate, SME and Retail consumer segments. Cogebanque has many service delivery channels such as branches (28), ATMs (36), internet banking, mobile banking (USSD & Mobile Wallet), provider of Mastercards in the country, smart cash card, agency banking (Over 600 agents across the country) and points of sales across the country.
