Personal Banking
Personal Banking

Multi-purpose Loan

Multi-purpose Loan

Baroda Multi-purpose Loan (BML)

Type of Facility

Overdraft / Demand Loan


  • Individuals who are
    • Salaried Employees or Pensioners
    • Professional, Self-employed and others who are income tax payee for last 3 years..
  • Age minimum 21 years and maximum 60 years (Legal heir of the main borrower, having property in his name be made as Co-Borrower, if age of principal borrower exceeding 60 years).
  • Minimum gross annual income of Ugx 5 Mns.
  • Take home salary of applicant considering total deductions should not be less than 30% of total salary/income. The income of the spouse may be considered if he/she is a co-borrower.

Income Criteria in Calculation of Limit

  • In case of all salaried/ pensioners, class the total amount of limit should not exceed 20 times of net monthly income(net of deductions).
  • In case of other applicants two and a half times of net annual income(average of last three years) plus depreciation.
  • Income of all the joint owners of the property who are co-borrowers can be clubbed.
  • Future income is not to be considered.


Loan can be availed for any personal needs such as medical treatment, investment, marriage, payment of school/college fees, repairs & maintenance/expansion or extension/ furnishing & modernization of existing house or any other unforeseen emergency, except for financial speculation of any type.


  • Maximum Ugx 5 Mns.
  • Maximum Ugx 100 Mns.

Limit is subject to income criteria, repayment capacity and advance value of property mortgaged

Repayment Period

Demand Loan : Maximum 36 months in equal monthly installments. Repayment to be commenced 3 months after disbursement. Interest to be recovered separately as & when applied

Overdraft Facility : If the balance after application of interest in overdraft account exceeds the limit then interest will be deposited separately. There is no penalty for prepayment.


PLR + 5% p.a. with monthly rests.

* Interest rate is subject to change from time to time. View latest Interest Rate.
** For further details, contact any of our Branches in Uganda

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