Loan Management Configuration
Product terms, interest and fee editors, penalty rules, grace and rest periods,
restructuring and top-up policy, and the write-off workflow. Every change is effective-dated and
maker-checker governed.
Maker-checker
How this works: The LMS configures products, charges, penalties, restructuring
and rest periods here; every change posts against the double-entry base ledger in Ledger Ops, which stays
authoritative. Rest periods are configured here, never ad-hoc holidays; there is no moratorium.
Active products
4
All five effective
Config changes pending checker
3
1 overdue for review
Scheduled to take effect
1
01 Aug 2026, 00:00 CAT
Last published
v34
18 Jul 2026 by P. Habimana
Loan products
Phase 1 (Rwanda) live products
| Product | Code | Interest method | Nominal rate | Term | Max principal | Status | Effective from | |
|---|---|---|---|---|---|---|---|---|
| Instant Cash Loan Wallet disbursal, MTN pre-approved auto debit (Airtel per-instalment) |
INST-CASH | Flat | 4.0% / month | 30 days | RWF 500,000 | Live | 01 Apr 2026 | Edit |
| Salaried Loan Employer roster gated, company guarantor, CRB checked |
SAL-LOAN | Declining balance | 1.8% / month | 3 - 12 months | RWF 5,000,000 | Live | 01 Apr 2026 | Edit |
| Merchant Financing Revenue based, repaid from settlements |
MER-FIN | Flat | 2.5% / month | 1 - 6 months | RWF 10,000,000 | Live | 01 Apr 2026 | Edit |
| SME Loan Digital origination with loan officer manual review |
SME-LOAN | Declining balance | 2.2% / month | 3 - 24 months | RWF 20,000,000 | Change pending | 01 Aug 2026 | Edit |
| Checkout Loan (BNPL)
A standard wallet loan originated at checkout; pays the merchant, borrower repays from the wallet (not an instalment product) |
BNPL | Flat | 4.0% / month | Up to 30 days | RWF 1,500,000 | Live | 01 Apr 2026 | Edit |
Interest and fee editor
INST-CASHEditing Instant Cash Loan. Changes are staged, not live, until a checker approves.
% / mo
Effective APR 48.0% disclosed to borrower.days
Charges and fees
| Charge | Type | Value | Applied |
|---|---|---|---|
| Origination fee | Percent of principal | 2.5% | On disbursal |
| Processing fee | Flat | RWF 1,000 | On disbursal |
| Late payment penalty | Percent of installment | 1.5% | On missed due date |
| Statement / SMS fee | Flat | RWF 150 | Per installment |
Penalty rules
Late payment penalties applied when an installment passes its penalty grace.
% / day
days
No penalty inside grace.Max
% of principal
Attention: Penalty rate and NPL cut-off feed the collections ageing report
and IFRS 9 staging. A change here re-buckets the whole book at next day close.
Grace and rest periods
Rest periods are scheduled repayment pauses configured on the product. They are not calendar holidays and are never applied ad-hoc.
days
First installment delay.per loan
Note: Instant Cash and Salaried loans allow no rest periods. A rest is configured per product, and a product that allows none has the control disabled rather than hidden, so an operator can see it was a decision.
Restructuring policy
Reschedules a distressed loan onto new terms. This is remedial and is distinct from a top-up (which is new money on a performing loan).
days past due
per loan
Requires: Credit committee approval when arrears exceed RWF 1,000,000.
Top-up policy
Separate from restructuringA top-up adds new principal to a healthy, performing loan and re-amortises the combined balance. Distressed loans are not eligible for top-ups.
% repaid
x
Write-off and charge-off workflow
Removes uncollectable exposure from the book. Recovery continues after write-off; recoveries post back as income.
days past due
On
- Auto-proposed at 180 days past due by the LMSSystem, nightly
- Maker reviews and submits the write-off batchCollections officer
- Checker approval (segregated user)Awaiting P. Habimana
- Credit committee sign-off for exposures over RWF 5,000,000
- Posted to GL as charge-off, moved to recovery ledger
Effective-dated changes awaiting checker
3 pending| Change | Product | Maker | Submitted | Effective from | Status | |
|---|---|---|---|---|---|---|
| SME nominal rate 2.2% to 2.0% / month | SME-LOAN | Grace Umutoni | 18 Jul 2026 | 01 Aug 2026 | Awaiting checker | Review |
| Instant Cash origination fee 2.0% to 2.5% | INST-CASH | Samuel Nsengimana | 17 Jul 2026 | 01 Aug 2026 | Overdue review | Review |
| Salaried penalty grace 5 to 3 days | SAL-LOAN | Josiane Uwimana | 18 Jul 2026 | 01 Sep 2026 | Awaiting checker | Review |
Segregation of duties: A maker cannot approve their own
change. Approved changes activate automatically at 00:00 CAT on the effective date and are written to
the tamper-evident audit log.
Create a loan product
A product is a versioned, effective-dated definition. Publishing a new version never alters a loan that is already booked, so a rate change cannot reach into somebody existing agreement.
RWF
toRWF
% per month, reducing balance
Never backdated. A version applies from its date forward only.
Draft, then checker, then effective date. Three separate gates, because a product definition decides what thousands of borrowers are charged.
Add a charge
Charges stack in a defined order and each one has a cap. The order matters: a percentage charge applied before or after a flat one gives a different answer.
%
RWF
A charge without a cap is refused by the platform.Every charge needs a cap. An uncapped percentage on a compounding balance is how lending gets people into trouble, so the platform will not store one.
Loan Management Configuration
Instant Cash Loan v5 against v4 in force
Publishing v5 does not change a single loan that is already booked. A loan carries the product version it was written under for its whole life, so a rate change tomorrow cannot reach into an agreement signed today.
| Setting | v4, in force | v5, draft | Affects booked loans |
|---|---|---|---|
| Interest | 3.5% per month reducing | 3.2% per month reducing | No |
| Origination fee | RWF 2,500 flat | 1.5% of principal, capped at RWF 5,000 | No |
| Late penalty | 0.1% per day on arrears | 0.1% per day on arrears | No change |
| Grace period | 3 days | 5 days | No |
| Maximum term | 6 months | 6 months | No change |
| Interest suspension at NPL | 90 days past due | 90 days past due | No change |
| Loans on v4 today | 8,412 |
| They stay on v4 | For their whole life, including any restructure |
| New loans from 1 August | v5 |
| A top up on a v4 loan | Priced on v4, because it joins that agreement |
| Effective from | 1 August 2026 |
| Backdating | Not possible. The platform refuses an effective date in the past. |
This is why a rate cut is not a customer service gesture. Existing borrowers do not get the new rate automatically, and telling them they do would be untrue. What they can do is settle early with no penalty and take a new loan on v5.
Loan Management Configuration
Instant Cash Loan v5 is with a checker
Nothing can be lent on v5 yet. A product version is what thousands of borrowers are charged under, so it needs a second operator, a change reason and an effective date before it exists as anything more than a draft.
| Draft | Instant Cash Loan v5 |
| Maker | g.nyirahabimana, today 11:04 |
| Change reason | Board approved a rate reduction to match market, minute 2026-07-12 |
| Effective from | 1 August 2026 |
| Waiting on | A lending config approver who is not the maker |
| Notified | 2 approvers |
| If refused | v4 stays in force indefinitely and v5 stays in the history as rejected |
| Gate | State | Why it exists |
|---|---|---|
| Draft created and complete | Done | Every charge has a cap, every rate has a basis |
| Change reason recorded | Done | An unexplained rate change is unauditable |
| Effective date set, not in the past | Done | Nothing is applied retrospectively |
| Second operator confirms | Waiting | One person cannot reprice the book |
| Effective at 00:00 on the date | Not yet | It activates itself; nobody has to be present |
Loan Management Configuration
Three write-offs pending, RWF 1,284,000
A write-off is the most consequential thing on this screen. It accepts that money will not come back, moves the loss to the provision, and reports the borrower to the bureau as written off. It needs two people and it is never automatic.
| Loan | Borrower | Outstanding | Days past due | Recovery attempts |
|---|---|---|---|---|
| LN-2026-7712 | Patrick Nkurunziza | RWF 484,000 | 218 | 14 calls, 3 promises broken, field visit failed, number now unreachable |
| LN-2026-7104 | Josiane Uwimana | RWF 520,000 | 194 | 11 calls, borrower has left the country |
| LN-2026-6890 | Samuel Nsengimana | RWF 280,000 | 241 | Borrower deceased, no estate, family confirmed |
| Provision already held | RWF 1,284,000, at IFRS 9 stage 3, 100% |
| Effect on the P and L | None. The loss was recognised when it moved to stage 3. |
| Effect on the balance sheet | The gross loan and its provision both come off |
| Bureau reporting | Written off, which stays on the record for 5 years |
| Recovery after write-off | Still pursued. A write-off is accounting, not forgiveness. |
| If recovered later | Booked as a recovery in the period it arrives |
The third row is different from the other two. A deceased borrower with no estate should be written off with a distinct reason code, because reporting them to the bureau as a defaulter serves nobody.