File opening fees: Money charged to the borrower at the time of the application. It is payable once and fixed.
Processing Fee: a charge related to the ongoing administrative and preapproval activities. It is payable once and fixed.
Facility fees: charges imposed to a client for arranging credit facilities. It is payable once and fixed.
Lending rate: is the proportion of the amount charged, expressed as a percentage of principal charged to a client. It is calculated periodically.
Servicing fees: is the percentage of each mortgage payment made by a borrower to a mortgage servicer as compensation for keeping a record of payments, collecting and making escrow payments, passing principal and interest payments along to the note holder
LOAN TYPE | FILE OPENING FEES | PROCESSING FEES | FACILITY FEES | LENDING RATE | SERVICING FEES |
---|---|---|---|---|---|
Shareholders Loan | 0.0% | 1.0% | 1.0% Min. Rwf 300.0 |
Base rate + (0.0-3.0%) | 1.0% |
Loyal Loan | 1.0% | 1.5% | 1.0% Min. Rwf 300.0 |
Base rate + (2.0-5.0%) | 1.5% |
Special Purpose Loan | 1.0% Max. Rwf 2,000.0 |
1.0% Max. Rwf 5,000.0 |
0.5% Max. Rwf 1,000.0 |
Base rate + (0.0-3.0%) | 2.0% |
Quick Loan | 2.0% | 1.5% | 1.0% Min. Rwf 300.0 |
Base rate + (4.0-9.0%) | 1.5% |
Entity Loan | 1.0% | 1.0% | 1.0% Max. Rwf 1,000.0 |
Base rate + (0.0-3.0%) | 1.2% |