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Type of Facility
Amount of Loan
- Private and Public Limited company, Individual Business men, Sole Proprietorship concern, partnership firms
- Prior account relationship not essential. However details of the applicant’s present account (either with our Bank or with other Bank) for last six months should be studied to satisfy that the conduct of the account is satisfactory.
- A/c should be Standard with other Bank in case of take over.
- Minimum period of established business / employment – 5 years.
- The business should be profit making
For purchase of any Trucks, Tractors / Heavy vehicles, Moveable Asset (Machinery) and Car for business purposes.
|New Asset / Vehicle||Maximum Ugx. 250 Million per Asset|
|Old Vehicle||Maximum Ugx. 100 Million per Vehicle|
- 25 % on cost of new vehicle / Asset including registration charges & one time insurance premium of the vehicle.
- 40% on cost of old vehicle including registration charges & one time insurance premium of the vehicle..
INSURANCE: Cost of insurance will be financed by the Bank under the above scheme, however Insurance of the Vehicle will be under one time Insurance Policy up to the tenure of the Loan.
PLR + 2% with monthly rest.
New Vehicle: Maximum in 60 months in Equal Monthly Installments.
Old Vehicle : Maximum in 48 months in Equal Monthly Installments.
Pre payment of loan permitted subject to 2% service charges of outstanding loan amount.
- The borrower should have adequate repayment capacity to service the Vehicle Loan and other existing Loans of the business. Borrower shall have to provide Income proof supported by Income Tax / Sales Tax / Audited financial Statement.
- In case of finance of Old Vehicle: It should not be older than 10 years.
- Garage Certificate of reputed Garage in respect of the residual useful life of the vehicle.
- Two Installments as per EMI of respective loan account to be paid in advance.
* Interest rate is subject to change from time to time.View latest Interest Rates
** For further details, contact any of our Branches in Uganda
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