Les + BOA

Umuhigo Savings Account

This is a traditional savings account backed by a current account from which regular payments are made into the savings account via Standing Orders. It allows you to accumulate progressive savings depending on your financial capacity.

After saving for a period of 12 months and 12 regular payments via Standing Orders, you can automatically benefit from a loan to finance an ambition or a project. The loan amount is a maximum of three times the savings accumulated via the regular payments. 


Savings Plan Savings Plan
The regular payments are done via Standing Orders, set at a minimum of Frw 15,000. The loan amount is equivalent to a maximum of three times the amount saved and a maximum DSR of 33% for private sector employees and 50% for civil servants.
Exceptional deposits are allowed but are not part of the calculation base for the loan amount. The minimum loan amount is Frw 360,000; there is no maximum amount as it depends on salary, savings and security.
Maximum interest earning balance of Frw 50,000,000. Maximum loan duration of 48 months
No withdrawals allowed; any withdrawals before maturity attract a fee of 2% of amount withdrawn. You can set off another Savings Plan while still servicing the loan.

Interest earned on the account is 9% p.a.

Interests to be paid at the end of December if the plan does not mature in the same year; the remaining interest to be paid at the maturity date of the plan.

If the savings are used as cash cover for the loan, the interest earned on the savings stands at 2% p.a.

Security: Letter of undertaking from employer and insurance cover for loss of job, death and disability.

Additional security for loans above Frw 8,000,000: House, vehicle, land with a value of 120% of approved loan.

Pricing: There are no charges on the account, except for withdrawals from the account before maturity of the plan.

Pricing: Interest rate on loan is 15% p.a.



  • Enables you to achieve your ambition
  • Earn attractive interest on your savings
  • Access to competitively priced loans which are triple the amount of your savings



  • Minimum age of 20 years to qualify for the Savings Plan
  • For the loan, the customer’s age should not exceed 55 at the end of the loan maturity
  • Non-blacklisted individuals



  Savings Plan Loan
Copy of valid identification (Driving license, National I.D card, passport)
Passport size photo (1)
Proof of address  if available)  
Completed individual account opening form (new customers)  
Additional product request letter (existing customers)  
Loan application form / request letter  
Letter of undertaking from employer  
Proof of employment (Salary certificate / employee verification)  
Pay slip for the last 3 months or 3-months’ bank statement  
Marital status  
Any additional documents that may be required by the Bank

*All copies must be supported by originals for verication.

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