Maximum loan amount.
- Not exceeding 10% of the total Society’s share capital & savings.
- Not exceeding two times the member’s/individual savings except collateral based loan.
- Not exceeding 80% of net salary.
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General Terms
Repayment terms
- Direct bank deposits (cash)
- Off set from personal savings.
- Not exceeding 80% of net salary.
Interest rate
- Normal Loan at 10% to 12% per annum
- Quick Loan at 10% per annum
- Quality super Loan at 15%
- Emergency super Loan at 30% per annum
- Cash advance at 5% per month
- Group loan at 10% to 12% per annum
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Product Loan
- Land loan
- Boda boda loan
- Home Appliance loan
Repayment period
- Maximum loan period is three years (36 months)
- Repayable on monthly instalments.
Loan top ups and criteria
- Normal top up after 50% clearance of initial loan obligation.
- Early top up after 30% clearance of the initial loan obligation, but charged 2% of the outstanding principle.
Other related charges
- Insurance at 1% of the principle amount and charged where applicable.
- Handling charges at 1% of the principle amount for all loans except for cash Advance.
- Electronic Funds Transfer (EFT) Ugx 10,000/= where applicable.
- Real Time Gross Settlement (RTGS) Ugx 25,000/= as and when requested by the borrower.
- Express Handling charges Ugx 25,000/= as and when requested by the borrower.
Maximum deductions not exceeding 80% of the members NET PAY.
Eligibility is limited to membership.
Loan requirements
- A member should have made six months before accessing any loan attached to savings
- Completed loan application form and chattels.
- Recent pay slip.
- Collateral for collateral based lending / loans.