One loan, more than one avenue.
Avail exciting repayment options and much more.
Income Criteria in Calculation of Limit
Type of Facility
- 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
- 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.
- Maximum Ugx 5 Mns.
- Maximum Ugx 100 Mns.
Limit is subject to income criteria, repayment capacity and advance value of property mortgaged
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.
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.
Overdraft / Demand Loan
Please fill in these details, so we can call you back and assist you.