Home Loans

ABSA Bank Home Loan

Featured

Loan Amount: Up to UGX 2 billion or USD 500,000
Loan Term: Up to 25 years (if you buy to live in) and 20 years (if you buy to let)
Interest Rate: (Variable)

Features
Eligibility
Charges

Upto 2 Billion/ 500,000 USD
Flexible repayment period of 25 years. (if you buy to live in)
Flexible repayment period of 20 years (if you buy to let)
Loan to value of up to 70% if u buy to let
Loan-to-value ratio. of up to 85% if you buy to live in.
Joint applications for husbands and wives.

4 Passport photos, passport / National I.D
Bank Statement (Last 12 months)
Proof of Income (Recent salary slips)
E-Tax Number
Loan statement.
Proof of employment. (Contract / Appointment Letter. )

Loan application fee 30,000 UGX / 5 USD
Arrangement fee of 3% of a minimum of 300k for USD loans or 2.51%
Early repayment fee of 13%
Mortgage protection cover (life & disability) 0.95%
Property Insurance covering fire and destruction 0.25%

Home Purchase Loan

Loan Amount : Up to UGX 1 Billion or USD 300,000
Loan Term : Up to 25 years
Interest Rate: (Variable)

Features
Eligibility
Charges

Discounted interest rates
Financing options of up to 80% value of property
Get amounts of up to UGX 1 Billion or USD 300,000 – limits may defer based on product type
Flexible and affordable monthly repayments of up to 25 years -limits may defer based on product type
Effective loan calculator

Completed loan application form
Valuation report of property to be financed
Sale agreement of property to be financed
Copy of financial card

Salaried individuals specific requirements:
In addition to the above general requirements, please present the following;

Copy of employment contract, appointment and confirmation letters
Employer letter of undertaking
3 months’ salary account bank statement
Employees authority to offset loan (for those borrowed in other banks)

Non-salaried individuals specific requirements:
In addition to the above general requirements, please present the following;

Copy of trading license
6 months account bank statement
Verifiable source of income

Application fee – UGX 65,000
Other variable fees including but not limited to valuation, security perfection fees can be accessed through credit pricing guide included in the services and products pricing guide

Cente Home Loan

Loan Amount: Up to 30m UGX.
Loan Term: Up to 36 months.
Interest Rate: (Variable)

Features
Eligibility
Charges

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

Applicant must have a home to improve
Security of the loan. (Equivalent to loan bing taken at.)
Hold a Current or Savings Centenary Bank account
Complete loan application form
Applicant must have a source of income for servicing loan installments (proof as well)
Applicant must be resident in the branch’s designated area of operation
National ID (Valid)

Insurance premium of 0.45% of the loan amount.
Application fee of UShs. 20,000
Processing fees of 2% one off.

Cente Mortgage Loan

Loan Amount: Minimum loan amount of UGX 20 million and maximum UGX 300 million
Loan Term:Up to 10 years
Interest Rate: (Variable)

Features
Eligibility
Charges

(Minimum 20M and Maximum 300M) With a maximum repayment period of 10 years.
Interest is charged on reducing balance and there is a grace period of up to 6 months.
Short and straight forward processing within seven working days

Hold a Current or Savings Centenary Bank account
Completed mortgage application form
Payment of mortgage processing fees
Eligible adult should not be more than 55 years at the time of application
Existence of verifiable source(s) of income
Valid identity documents
Proof of property ownership – genuine land title or copy of certificate of title for the property to be purchased or developed

Bank charges security search fees, overdraft renewal fees (2% ) and early redemption fees (10%) of foregone interest.

Loan Amount: Maximum amount is based on affordability
Loan Term: Up to 20 years for loan in UGX and 10 years for loan in USD
Interest Rate: (Variable)

Features
Eligibility
Charges

Long repayment period of up to 25 years
High loan amounts of up to 85% of the Open market value
Loan repayments of up to 50% of your ascertainable Net income
Loan payable on a reducing balance basis in predictable equal monthly instalments
Competitive interest rate.
Dedicated relationship manager
48hrs response time.
Time to money (14 working days)
Maximum of 65 years

PERSONAL DETAILS

2 Passport Photos
Valid ID (Passport, Driver’s license, National ID)
TIN number
Valuation of the property/land
Marriage certificate if married
Photocopy of certificate of title
Valuation report (from the approved bank valuers addressed to DFCU bank)
Marriage certificate if married
Photocopy of certificate of title
Bills of quantities (Completion and Construction) from certified surveyors
Copy of approved plans/commencement letter from city authority (Construction)

SOURCES OF INCOME

Salary

6 months Bank Statements from other financial institutions for proof of salary payment
3 months latest pay slips
Appointment Letter/Employee contract
Confirmation letter

Rental income

Tenancy agreements
Proof of ownership for rental income/ property (copy of title).

Business

At Least two most recent trading licenses. (if company)
Certificate of registration. (if company)
Memorandum and articles of association. (if company)
Resolution to borrow (Bank format). (if company)

Home Loan

Loan Amount: Maximum amount based an affordability
Loan Term: Up to 20 years
Interest Rate: (Variable)

Features
Eligibility
Charges

Mortgage protection cover
Long repayment period of up to 20 years
Maximum amount based an affordability
Loan repayments of up to 35% of your ascertainable gross income
Loan payable on a reducing balance basis in predictable equal monthly installments
Competitive interest rates

Have an account with us
Ascertainable monthly income
Have copy of the land title
Copy of approved building plans
Bills of quantities of outstanding work
Photographs of four elevations of the building

Incremental Housing Loan

Loan Amount : 1 m- 30m, depending an borrower’s capacity
Loan Term : 1-5 years
Interest Rate: (Variable)

Features
Eligibility
Charges

Small flexible disbursemenls. (Funds released in phases) for specific milestones. (roofing, flooring etc)
Loan amount of (1 m- 30m, depending an borrower’s capacity
Repayment terms 1-5 years
Target Audience: low income earners
Accessble to informal sector workers
Builds credit worthiness over times
Improves living conditions gradually

Reliable source of income (1year for businesspeople and 6 months for salaried employees)
Trade license for business people where applicable
For salaried employees, a copy of the contract and pay slips.
For construction/ home improvements, cost estimates will be required

Land Loan

Loan Amount: Up to 80% of the loan value
Loan Term: Up to 20 years
Interest Rate: (Variable)

Features
Eligibility
Charges

Repayment period of up to 20 years
Loan amount of up to 80% of the loan value
Loan repayments, up to 35% of your ascertainable gross incomе
Competitive Interest rates.
Payable on reducing balance

Salaried Persons

Proof of borrower’s income i.e. Letter from employer, pay slips for the last 2 months or a Bank statement for the last 12 months
Completed application form
Copy of financial card,
Valid ID and passport photos
Spousal consent or statutory declaration for marital status
Certified copies of Company founding documents (in case of self-employed applicants)

Self Employed Persons

Companies have to present audited financial statements, Certificate of incorporation, Memorandum and Articles of Association, Copy of Form 7 and a Bank statement of 2 years
Sole proprietorship need Certificates of registration and Bank statements for 2 years
Completed application form
Copy of financial card,
Valid ID and passport photos
Spousal consent or statutory declaration for marital status
Certified copies of Company founding documents (in case of self-employed applicants)

I&M Bank Home Loan

Loan Amount : 2m to 100m.
Loan Term: 20yrs (UGX) and 10 yrs (USD)
Interest Rate: (Variable)

Features
Eligibility
Charges

Cover both principal and interest opting for larger loan tenure can reduce monthly installments
2m to 100m
Repayment period 20yrs (UGX) and 10 yrs (USD)
Available in both UGX and USD.
Flexible Usage.(purchasing new property buying undeveloped plots of -land, constructing residential property, equity release from the value of existing property, purchasing commercial property plots, financing units under construction)

Income: :A minimum monthly salary of UGX 500,000 or above is generally required.
Letter of Undertaking from your employer.
Valid work contract.
Copies of your last 3 months’ pay slips.
Your National ID and work ID.
Valuation report from an approved valuer.
Copy of the sale agreement or letter of allotment.
Copy of the title deed.
If the property is under construction, you’ll also need approved building plans, specification of work done, and the contract agreement.
Copy of the Next of Kin’s ID.
One passport-size photo.
For self-employed individuals, documents such as business registration, income tax returns, and audited accounts may be needed

NCBA Bank Home loan

Loan Amount: Up to UGX 30,000,000.
Loan Term: Up to up to 25 years for loans in UGX and 20 years for foreign currency for Ugandan nationals
Interest Rate: (Variable)

Features
Eligibility
Charges

Minimum loan amount of UGX 30,000,000.
Maximum loan amount based on repayment ability.
Loan repayment period of up to up to 25 years for loans in UGX.
Loan repayment period of up to 20 years for foreign currency for Ugandan nationals working in the country.
Loan repayment period of up to 10 years for non-Uganda nationals based in Uganda.
Free mortgage Protection Insurance cover of mortgages up to UGX 700M, without need for medical checkup, retrenchment cover and social perils cover.
Loan-to-value ratio is based on the value or selling price of the property, or whichever is lower.
Financing of up to 90% of properties in Kampala or within the city council area.
70% mortgage financing for office space.
80% mortgage financing for diaspora customers.
Available in USD, EUR, GBP and UGX, based on borrower’s income.
Interest is calculated on a reducing balance basis.

The costs associated with mortgage include: facility fee, Valuation fees, Stamp Duty, Legal fees, Mortgage Protection Cover (MPC), Fire Policy, Contractors All Risk Policy and would usually amount to approximately 6-8% of the property selling price.

Home and Land Loan

Loan Amount:
Loan Term: Up to 10 years
Interest Rate: (Variable)

Features
Eligibility
Charges

Flexible repayment terms of up to 10 years.
Facilitates acquisition of land and landed properties
Competitive interest rates
Accessible from any of our countrywide branch networks.
Fast turnaround time
Flexible collateral requirement

Must be a Post Bank customer .
Applicants must possess a steady, verifiable regular source of income
Provide bank statements from other banks evidencing income regularity (6 months).
Sufficient collateral for the loan.
Copy of the Title.
Valuation report.
Completed loan application form.
For land acquisition, statutory declaration of marital status where applicable.
Guarantors
Bill of quantities/Invoice for construction purposes

House Purchase Loan

Loan Amount: Up to Ugx 10 billion
Loan Term: Up to 20 years
Interest Rate:(Variable)

Features
Eligibility
Charges

100% financing of property value in Ugx or USD.
Big loan amounts of up to Ugx 10 billion.
Flexible/convenient repayments.
Insurance (no liability in case of property damage).

Open Stanbic Bank account.
Earning (salary, self-employed, rentals).
Earn a minimum of Ugx 1,000,000.
21 years and above.

Legal Fees:
- Stamp duty on transfer 1.5% of value (only applicable on title transfer during purchase of house or land).
- Stamp duty on mortgage 0.5% of loan amount.
- Related registration costs.
- Lawyer professional fees.
- Bank loan arrangement fee (1.15% of loan amount).
Property Valuation:
- Professional fees of 0.025% of value.
- VAT.
- Boundary opening fees.
Insurance:
- Property insurance.
- Life insurance.

Land purchase loan

Loan Amount: Upto Ugx 300 Million
Loan Term: Upto 15 years
Interest Rate: (Variable)

Features
Eligibility
Charges

Loan amount of up to 300m.
Adjustable repayments
Liability (none) incase of incapacitation or death.
Access service from dedicated Home loans department that throughout the process
Linkage to reputable property dealers.

Must open an account with Stanbic bank.
Must be earning some money (salary/Self-employed/Rental or all the three)
You must be a Ugandan citizen either living in Uganda or diaspora.
For non-Ugandans, you must be living in Uganda with valid residency permit and or work permit.
You should earn a minimum net monthly income of Ugx 300,000.
Must be 21 years or older (but not older than 65 years on expiration of the loan).
You must have a satisfactory credit bureau report.

Legal fees (Lawyers fee, stamp duty on transfer 1.5% of value only applicable of title transfer during buying of land.
Stamp duty on mortgage 0.51% of loan amount.
Bank loan arrangement fees 1.1% of loan amount.
Property valuation (professional fees of 0.25% value)
VAT
Boundary opening fees.
Credit life Insurance