Salary Loans
ABSA Bank Salary Loan
Featured
- Amount: Up to 300M (50,000 USD)
- Interest: 17%
- Loan Term: Upto 84 months
- Competitive Interest rates.
- Repayment period of up to 84 months.
- Variable and fixed interest rates.
- Credit life insurance. (death, permanent disability retrenchment.)
- Free credit Insurance loans taken in UGX
- Only start repaying equal installments on the Logn. one month after
- Interest calculated on loan-reducing basis.
- Free standing order is set up.
- Option of a scheme loan available. (arrange loan through employer with instalments deducted directly from salary)
- Copy of financial card.
- National I.D/ Work & Resident permit 4 non-ugandans.
- Letter of undertaking from employer.
- Copy of current contract.
- 3 most recent pay slips.
- Minimum income required: UGX600,000/UGX300,000 (civil servants) or USD1,500 for USD loans
- You need to be a salaried customer from our list of vetted companies
- Loan application fee of UGX20,000/USD6
- Arrangement fees 3% for a minimum of UGX300,000 and 2.5% for USD loans
Bank of Africa Salary Loan
- Amount: Up to UGX 150 Million
- Repayments of up to 72 months
- Get up to 72 months repayment plans
- Get amounts of up to UGX 150 Million
- Facility is unsecured – No collateral or security is needed
- Flexible and affordable monthly repayments of up to 72 months
- Enjoy quick tops ups after servicing for six months
- Peace of mind with the retrenchment insurance cover of up to 12 loan instalments
- Completed application form or online application.
- Latest pay slips (last 3 months)
- Copy of financial card
- Copy of employment contract, appointment and confirmation letters
- Employer letter of undertaking
- At least 3 months Bank statement for salary account
- Employee authority to offset loan (for those borrowed in other banks)
Centenary Bank Salary Loan
- Amount: Upto 10 Billion
- Interest: 17%
- Loan Term: Upto 15 years
- Up to Ugx 250,000,000.
- Dedicated relationship manager.
- Affordable loan procession fees.
- Free financial education seminars.
- Manageable repayments instalments.
- Loan repayment of up to 5 years.
- Loan processed within 24 hours.
- Access through mobile money/CenteMobile or ATM.
- Current or savings account.
- Loan application form.
- Must be a resident in the bank’s area of operation.
- Proof of employment status from employer.
- Salary payments made to the account.
- Copy of appointment letter.
Stanbic Bank Salary Loan
- Amount: Upto 200m
- Loan Term: Upto 72 months
- Best Interest rates in the market.
- Unsecured loan amounts up to Ugx 200 million
- Flexible repayment period up to 72 months.
- Insurance cover (no liability in case death, permanent disability and retrenchment).
- Access funds conveniently through our digital channels i.e. internet banking.
- You must have an account with Stanbic
- Must receive a monthly salary.
- For non-Ugandans; you must be living in Uganda with valid residency permit and or work permit.
- Should earn a minimum net monthly income of Ugx 150,000.
- Must be 21 years or older (but not older than 60 years on expiration of the facility).
- A financial card
- National ID
- Regulatory fees: Stamp duty of Ugx15,000 for loan amounts greater than Ugx3Million.
- Bank loan arrangement fees: 2% of loan amount.
- Credit Life insurance:Flat monthly insurance charge of 0.13% of the outstanding loan amount.
Standard Chartered Bank Salary Loan
- Amount: Up to 13.5M within 70% of your net income
- Interest: Interest is only charged on amount utilized and for the number of days utilized.
- Security to access borrowing up to 70% of net income
- Loan Amounts shall be varied by your income eligibility and our Credit Policy. Please use Loan calcualtor for estimate.
- Interest Charged only on amount utilized and for the number of days utilized.
- Loan Tenor may be varied based on your employer or length of service.
- Salaried with a minimum gross salary of UGX1,000,000 per month*
- A salary account with Standard Chartered Bank is required
- Proof of income (Certified copy of pay slip)
- Introduction Letter from employer on company letterhead
- Last 3 months bank statements (for new accounts)
- Copy of National ID / Valid passport