Savings Begin with your goal Write down your goal, when you need the money and what you can set aside. Ask the SACCO which account options are available.
What are the opening amount and minimum balance? What are the deposit, withdrawal and closure charges? How is interest calculated and when is it credited? Plan your next step ↗ Borrowing Understand the full cost Start with your income and essential expenses. Ask about loan options for your purpose, the requirements and repayment arrangements.
What are the interest rate, fees and total repayable? What security, guarantors and documents are required? What happens with early or late repayment? Plan your next step ↗ Groups and enterprise A plan you can agree on Groups, farmers and businesses can prepare questions about account operation, signatories and activity records.
Who can operate the account? Which group or business records are needed? How are statements and account records obtained? Plan your next step ↗ Requirements, prices and product availability must be confirmed by the SACCO. This page does not approve a loan or open an account.
Money guides Simple numbers. Use your own figures to plan saving or estimate loan repayments.
SAVINGS
Your goal, month by month. This estimate assumes no interest and no fees.
BORROWING
A view of monthly repayments. Uses a reducing balance with equal monthly repayments. Enter the rate you were quoted; no ABAHIZI rate is assumed. Fees, insurance and exact payment dates are excluded.
Home / Plan your financial future MONEY KNOWLEDGE FOR YOU A brighter tomorrow. Choose what you are planning. Connect practical knowledge, useful figures and questions for your SACCO.
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01 School and family Write down when the money is needed and the full cost. Spread the remaining amount over the months available; review when prices change.
Calculate a saving goal ↗ 02 A cushion for surprises Start with an affordable amount that leaves room for essentials. Ask how quickly you can withdraw it when needed and what it costs.
Build a household budget ↗ 03 Your next business step Separate household and business money. Track when customers pay, when suppliers need payment and the cash that must remain in the business.
Plan business cash flow ↗ 04 Borrowing with preparation Record the loan purpose, repayment source and what you would do if income fell. Read the agreement and collateral risks before signing.
Understand the costs ↗ These original guides draw on financial-planning themes and how banks explain services. They are not confirmed ABAHIZI products or tariffs. Bank of Kigali ↗ · I&M Rwanda ↗
BEFORE CHOOSING AN ACCOUNT
Six questions for a clearer decision. How often will I deposit, and when will the money arrive? When might I need a withdrawal? Is there a notice period? What are the monthly, deposit, withdrawal and account-closure charges? How is any interest calculated, and when is it paid? Which account-access channels are actually available to me? Where should I report an error or make a complaint? A GOOD BEGINNING Your first earnings. Starting a job or a small business? Plan your first month, make room for essentials and give your goal a place to grow.
Your first income
One month. 01 Know what is available Record the money you have actually received and the next expected payment date. If income varies, also plan for a quieter period.
02 Make room for essentials Plan food, housing, transport and payments already due. Your account balance is not necessarily the amount free to spend.
03 Choose one starting goal Start with a manageable goal and a date. Choose an amount you can set aside, then review it as your circumstances change.
04 Review what happened At month end, compare the plan with what happened. Adjust the next month instead of judging yourself for an imperfect start.
PUT IT INTO PRACTICE An account that fits your life. Ask about requirements, charges and account access. If you are planning savings for a child, first ask about age and guardian requirements.
Your selections stay on this page only. Download a copy before closing it; no information is submitted.
Explore BNR’s information for further learning. This is a preparation guide; the SACCO confirms its requirements and services. Read BNR guidance ↗
MORE FOR YOUR EVERYDAY LIFE
A new chapter. Practical knowledge, a plan to keep, a step to take.
Money glossary Clearer words. Explore 12 common money terms in everyday language.
01 Savings Money you set aside for a goal or a future need.
02 Member share A member’s contribution to a cooperative’s capital. Ask how shares differ from deposits and which rules apply.
03 Principal The amount borrowed before interest and charges. The outstanding principal falls as you repay that part of the debt.
04 Interest The cost of borrowing, or an amount an account may earn under its terms. Ask about the rate, period and calculation method.
05 Collateral An asset that may secure a loan under an agreement. Understand what could happen to the asset before signing.
06 Guarantor Someone who accepts responsibilities for another person’s loan under an agreement. Read exactly what those responsibilities cover.
07 Repayment schedule The dates and amounts of repayments. Ask for a clear copy and compare it with when you receive income.
08 Service fee A charge for a service. Ask for all charges, when they are due and how they may change.
09 Cash flow The movement of money in and out over time. When the money arrives matters for meeting payments.
10 Budget A plan for expected income, spending and saving over a chosen period.
11 Emergency savings Money set aside for unexpected needs. Choose an affordable saving amount for your situation.
12 One-time code (OTP) A code used to confirm an action or sign-in. Do not give it to someone who asks by phone or message.
These are general explanations. Ask the SACCO to explain the wording and responsibilities in your own agreement.
