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BPR makes adjustments in personal banking loan offering

By IGIHE
On 3 November 2021 at 04:32

Banque Populaire du Rwanda (BPR) Plc has announced changes in the Loan offering to its personal banking customers.

As part of its overall strategy, the bank aims to make it easy for customers to access credit from the bank.

It has therefore, reviewed and amended the main credit access conditions for personal banking loans including Home loans, Personal loans, Home Equity and Vehicle loans.

The key adjustments made include the unsecured personal loans limit that has been increased from Rwf 15 million up to Rwf30 million.

Monthly installments on Home, Personal and Vehicle loans will be up to 50% of the customer’s net monthly disposable income up from the existing limit of 35% of the customer’s net monthly income.

Among others; the amount the bank can lend in form of Home Equity will be up to 70% of the assessed market value of the property while A customer with an existing loan in the bank and has repayment capacity as stated above is eligible to access top ups on their current loan balance.

Commenting on the announcement, Banque Populaire Du Rwanda Plc, Managing Director, Mr. Maurice K. Toroitich said that the move is part of the bank’s strategic initiative to make it easy for our customers to do business with us. Reviewing and adjusting our existing loan conditions is therefore aimed at simplifying and making it possible for our customers to achieve their goals.

“We exist as a bank to make it possible for all our stakeholders to achieve their goals, and we are always looking for those barriers in policies, processes and systems that make it difficult especially for our customers to do business with us, so that we redefine them to become simpler and easier to serve our customers. That’s why we have reviewed our existing credit access conditions to be able to offer a compelling value propositions to our customers to enable them to make progress,” he said.

Both new and existing BPR customers with a stable monthly income are eligible to access up to Rwf 30 million in unsecured personal loans, if they fulfill all the terms and conditions. Under the new criteria, BPR customers with an existing loan facility will also be eligible for a loan top up.

Xavier Shema Mugisha, the bank’s Chief Business Officer also highlighted that by increasing the limit on unsecured personal loans, and increasing the monthly repayment limit up to 50% of the customer’s net monthly income, the bank is striving to improve the livelihoods of its clients after identifying that the existing conditions were challenging to a big number of customers.

“The previous Unsecured Loan limit of Rwf15 million often limited consumers’ options in acquiring assets or other needs. For example, “customers taking out loans to purchase assets such as land or a vehicle, the previous amount limited options for the acquisition but now with the new changes, customers will have the opportunity and freedom to do more and improve their ways of living,” he noted.

BPR customers who are eligible and want to access a loan top up can visit their nearest branch to start the application process.

About BPR Bank

The BPR journey started in 1975 as a community based savings and credit scheme and subsequently transformed to become a fully-fledged commercial bank in 2008 with a core focus in Retail and SME Banking.

In January 2016, Atlas Mara acquired a stake in BPR, which was subsequently merged with Atlas Mara’s existing operation, BRD Commercial Bank that resulted in the merged entity becoming the second largest bank with operations cross Retail, SME and Corporate Banking. In August 2021, KCB Group Plc acquired majority shareholding in the company through the purchase of all the shares held by ATMA and ARISE BV. Consequently, BPR Plc is now a subsidiary of KCB Group Plc. BPR currently operates through an extensive network of 137 branches, 51 ATMs and 350 bank agents across the

Banque Populaire du Rwanda Plc has announced changes in its personal banking loan offering.

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