QUICK LOAN (30 DaysLoan)






In these conditions;


  • “Account holder” means the person liable to the Bank for the settlement of the Quick Loan, facility fees and such other costs and expenses as are agreed to by the Parties hereto.


  • “Conditions” mean these terms and/or any other conditions that regulate or relate from time to time to the availing of Quick Loan by the Bank.


  • “Due Date” means 30 days from the date of disbursement of the Quick Loan.


  • “Quick Loan” refers to the term loan given to the customer through the mobile phone or such other mode as shall from time to time be made available by the Bank and in such amounts as shall be determined by the Bank in its absolute discretion after an Account holder makes a formal application.


  • “The Bank” means Finbank (Burundi) Limited of P.O. Box 2998 Bujumbura-Burundi which expression shall where the context so admits include its successors in title and assigns.


  • “Operative Account” means the account maintained by the Account holder with the Bank in connection with the Quick loan transactions.


  • The Bank and the Customer shall together be referred to as the “Parties” and where the context requires individually as a “Party”.
  • The masculine gender includes the feminine and vice versa.




  • These Conditions as varied from time to time constitute the Agreement between the Account holder and the Bank with regard to Quick Loan. These Conditions apply in addition to the General Terms and Conditions of operating an account with the Bank.


  • The Account holder by completing aQuick Loan application through Pesaflashshall be deemed to have read, understood and agreed to be bound by these Conditions upon acknowledging their receipt as availed in the Quick Loan application process.


  • The Account holder further confirms that he has considered the charges and interest levied by the Bank as specified in Condition 3 below and fully understands that failure to settle the Quick Loan on the due date shall result in the same being rolled over as a fresh Quick loan on the same terms as those on which the rolled over Quick Loan was availed. Such rollover shall persist until the total amount due under the Quick Loan and subsequent roll overs are fully settled.




  • The following charges shall apply and may from time to time be subject to change without notice within the full extent permitted or demanded by law:


Charge Description
3.1.1 Loan appraisal fee Maximum of 10% of the Loan amount
on fresh application recoverable upfront
3.1.2 Upon default, penalty fee 5%
  • The Quick Loan is repayable on the Due Date but there is an option to repay anytime before the due date.


  • Should the Quick Loan not be paid on the Due Date, the Bank shall, though not obligated, demand from the Account holder all monies,

which may then or thereafter be due and owing under these Quick loan Conditions, including but not limited to:



  • All legal and other costs, charges and expenses which the Bank may pay or incur in connection with these Quick Loan Conditions or the recovery of any monies owing hereunder;


  • A fee to compensate the Bank for a reasonable estimate of any loss incurred by the Bank as a result of default to the full extent permitted by law; and


  • All monies due and computed from the due date until the settlement in full.




  • The Account holder undertakes to indemnify and keep the Bank indemnified at all times against all actions, claims, demands,


liabilities, losses, damages, costs, charges and expenses of whatever nature inclusive of any legal costs and disbursements incurred by the Bank in obtaining payment of any monies due and owing to the Bank from the Account holder. The indemnity shall


remain valid, subsisting and binding upon the Account holder notwithstanding withdrawal & termination of the contract.


  • Any legal costs and disbursements incurred by the Banks against the Account holder shall be deemed to include every sum which would be allowed to the Advocates of the Bank in taxation between the Advocate and clients to the intent that the Account holder shall afford to the Bank a complete entitlement and unqualified indemnity in respect thereof.




The Bank reserves the right to vary, amend or replace all or any of these Conditions at any time without prior notice. The Bank shall notify theAccount holder of any changes made to these Conditions


as soon as is practicable and by the most expedient means as determined by the Bank provided that failure to make such notification shall not invalidate the changes.




In the event of any breach by the Account holder of any of these Conditions the Bank may in circumstances where the Account holder fails to comply or procure compliance with the terms of a notice served by the Bank on the Account holder, require immediate repayment in full of the outstanding balance on the operative Account.




The Bank may at any time and without notice cancel or suspend the right to utilize Quick Loan entirely or entirely withdraw Quick Loan as a product without affecting the Account holder’s obligations under these Quick Loan Conditions.




Upon the occurrence and during the continuance of default by the Account holder, the Bank is hereby authorized at any time and from time to time, without notice to Borrower and to the fullest extent permitted by law, to set-off and apply any and all deposits held in the Account holders other related accounts held with the Bank.

In consideration of the facilities I have been granted, I agree that in addition to the general privilege or similar right which the law assigns to you as a banker, you may at any time and without notice combine or consolidate all or some of the accounts in my Name or any other Company (s) I represent with debit / credit balances and offset or transfer any amount (s) to the credit of the above accounts to cover my actual or potential actual obligations, Principal or accessory, separate or joint.




Either Party may terminate their obligations under theseConditions at any time on written notice to the other Party. On termination by the Account holder the termination notice should be accompanied

by the repayment of the full loan outstanding at the time of receipt.


  • Termination shall only be effective upon the discharge of all the outstanding liabilities under these QuickLoan Conditions.


  • The Bank may cancel any Quick Loan on written notice from Account holder accompanied by the payment of all sum outstanding loan balance.


  • The Bank may at any time and without giving reasons or notice terminate these Conditions and upon such termination the Account holder must repay the full outstanding Quick Loan balance within the contracted period.


  • Termination by either the Account holder or the Bank shall not affect the Account holder’s obligations to meet any liabilities incurredprior to such termination. This condition will continue until the Account holder has repaid all amounts outstanding at the time of termination.




  • The Account holder agrees that the Bank may disclose details relating to the Quick Loan to any third Party (including credit agencies) if in the Bank’s opinion such disclosure is necessary for thepurpose of evaluating any application made to the Bank or such third Party or maintaining the Operative Account with the Bank or other Purpose as the Bank shall deem appropriate.


  • The Account holder agrees that the Bank may disclose details relating to the Quick Loan including details of default in servicing the Operative Account to any third party (including credit agencies) forthe purpose of evaluating the Account holder’s credit worthiness or for any other lawful purpose.




12.1 These Quick Loan Conditions are governed in all respects by the Laws of Burundi.


  • In event of any dispute, difference or question whatsoever which may arise between the Parties including the interpretation of right and liabilities of either Party, the parties will endeavor to resolve such dispute through good faith negotiations within fourteen (14) days of the dispute or claim arising or such other period as shall be agreed between the parties. If the matter is not resolved within the fourteen days, it shall be referred to a competent court of Bujumbura.


  • Neither Party shall be entitled to commence or maintain an action in a Court of law upon any matter in dispute until such matter shall have been submitted and determined as hereinbefore provided and then only for the enforcement of the arbitration award or such matter as is permitted by law.




  • The Account holder may not assign or otherwise dispose of any of the Account holders rights and obligations under this Agreement.


  • The Bank may transfer or assign its rights and obligations under these Conditions and such transfer or assignment shall be effective upon notification of the same to the Account Holder.




  • All notices to the Account holder made under these Conditions shall be sent by short message system(sms) to the mobile telephone number availed by the Account Holder or by prepaid post to the last known postal address of the Account Holder whichever will be deemed to be expedient by the Bank pursuant to Condition 13.2.
  • The Account holder shall notify the Bank in writing of any change of address. Until such notice is received the Account holder’s address shall be that stated in account opening documents as held by the Bank.