What Do You Know About BPR’s Insurance Premium Financing?

For every business to succeed, it needs to maintain consistence in operations, a steady cash flow but above all, it must be insured against any unforeseen risks that can emerge, such as fire, destroying everything in a matter of seconds.

The safety of a business is very vital for sustainability and profitability. However, very often, businesses will go through a rough patch and face difficulties in their balance sheet, requiring time to put together resources to pay for the insurance premiums upfront.

 It is against this background that Banque Populaire du Rwanda Plc (BPR Atlas Mara) introduced the Insurance Premium Financing (IPF) facility to enable the bank’s customers finance their insurance premiums and pay over an extended period of time.

The BPR IPF is a specialized product designed to help businesses to pay annual insurance premiums without having to wait for cash to get into their accounts by ensuring that there is an assured credit line from which a business can draw to pay insurance premiums and pay later when books are balanced.

 BPR’s IPF is a game changer in Rwanda’s banking and financial sector because it allows companies or individual business owners to leverage on their relationship with BPR to borrow from a bank at their own terms in order to pay their insurance premiums without any challenges.

BPR has positioned itself to help business and individuals who have accounts with the bank with funds to cover the cost of insurance premiums upfront and set aside their worries of what could happen to their businesses or goods.

 All you have to do is approach any BPR branch countrywide and express your interest to sign a premium finance agreement with the bank. An assessment will be done on the request and a quick approval will be processed and you pay back at your own terms, at an affordable interest rate of 8 percent.

If you are financially savvy and know what you need to sustain your business operations, this is a product you don’t want to miss because it allows the peace to sustain your business without a burden of any fears of what might happen.

 From insuring your goods to property and other assets, the BPR IPF facility is what you need to ensure that your business is safe and you don’t have to worry about the source of cash as your insurance nears its end.

One does not require any collateral or security of any form to benefit the facility. The bank assesses your capacity and works with the insurance company, as a guarantor, and agree on the terms.

 You can use the facility to pay general insurance on property, goods, vehicles and other things that allow your business to run but could be at risk say of fire and other disasters.

 After assessing your application, BPR transfers the money directly to the insurance company, but to ensure the commitment of the client, the beneficiary also deposits an amount equivalent to two months.

 This means that if the insurance premiums being paid are for a year, BPR will cover 10 months and the client two months as part of the client contribution. Both small and large enterprises as well as individual businesses can benefit from the facility and can get up to Rwf200m in insurance premium financing. 

 The repayment period is up to 10 months, allowing clients to pay back in a more flexible manner without having to feel the burden of paying upfront or borrowing from elsewhere to pay premiums on insurance.

 This facility allows you the freedom to continue with your businesses operations without worrying about any unforeseen risks. For more details, contact any BPR branch near you.




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