Home improvement/Asset Acquisition Loan
This is Short-term loan with both regular and irregular repayments targeted at home owners with a source of income earning for the purpose of financing home improvement either through construction/renovation of residential/commercial houses, erecting of perimeter wall/fence, and installation of power and or energy systems, water and sanitation systems.
Product Features
- Minimum loan amount of UGX 100,000 and Maximum of UGX 30 million
- Regular and flexible loan repayment plans
- Maximum loan period of up to 36 months (3 years)
- Interest charged on declining balance
Benefits
- Attractive interest rates
- Fast and easiest way to improve homes
- Improves living conditions of customers
- (refundable after loan repayment)
- 5% Loan Processing fee
Requirements
- Applicant must have a home to improve
- Security for the loan
- Hold a Savings account
- Completed loan application form
- Applicant must possess a source of income for servicing loan instalments
- Applicant must be resident in the area of operation
- 2% Insurance on all Loans against death and disability.
- 25% initial deposit
