Stanbic Bank recognizes that it has different customers with different housing needs. The Bank also upholds its value of serving all customers. As a result, the Bank developed four different home loan products to cater for the diverse needs of its clientele.
What does it offer?
• No Application Fees
• Affordable – Interest Rates [UGX - 19%, USD - 13.5%)
• Flexibility in early repayments- Allowed up to 3 times monthly to accelerate principle payments
• Flexible USD financing with duration of up to 20 years.
• Flexible minimum age of 21 Years & maximum age of 65 years
• Mortgage protection cover (Life insurance) with flexible payments (Monthly)- Insurance covers loan in case of death & permanent disability.
• Home owners protection cover- property insured against fire, earth quakes etc with flexible monthly premiums
• Strong brand with a history of over 150 years.
• Fully dedicated Home loans team with the best skills in the market at your service.
• Free debt service and rehabilitation available
• Strategic external partners such as lawyers, Quantity surveyors, valuers with a great wealth of experience and value
• Finance up to 80% for refinance, purchase & completion.
• Equity release will be up to 70% of the market value
• Monthly payments do not exceed 50% of your net earnings.
• Finance up to Ugx 2,500,000,000 or USD equivalent.
What are our Product Offerings?
Ordinary purchase: Buying a home is a major decision for anyone. It is also one of the largest investments most of us are likely to make in our lives.
Equity release (Cash outs): A customer who owns a complete titled property and would like to get cash release from their property to invest in other legal activities qualifies for this product.
Refinance: In the event that a customer wishes to transfer their home loan to Stanbic in order to enjoy our competitive interest rates and flexible offering, this product would be the best option for them
Completion: As a bank, Stanbic acknowledges that there are customers who have started building their houses but need extra financing to finish the construction, such customers are availed the completion loan.
- Employed customers
- Self-employed customers
- Professional Ugandans living in the diaspora
What Do I Need To Apply?
CUSTOMER IDENTIFICATION DETAILS
• 2 Passport photos
• Copy of identification (Passport, driving permit, Employment ID)
• Proof of residency (Utility Bill, letter from LC)
• Financial Card (CRB)
a) SALARIED CLIENTS
• Bank statements from the last 6 months for non-stanbic clients, and 3 months for stanbic clients.
• Proof of employment i.e. letter from employer
• Copy of contract/appointment letter.
• Copies of 3 consecutive months pay slips starting with the most recent.
• Proof of other income e.g. tenancy agreements
• Loan statements and copy of loan offer ( in case of a running loan)
b) NON SALARIED CLIENTS
• Audited accounts for two years of your business.
• Bank statements from the last one-year.
• Registration certificate.
• Company Form 7 (showing directors and secretary of the company).
• Articles of association of the company, including company form 7.
• Cash flow projections for 2 years, Tax receipts/certificates and Resolution to Borrow
c) PROPERTY DETAILS
• Property Valuation report.
• Copy of title of property.
• Preliminary sales agreement( In case of Purchase)
• Bills of Quantities (In case of completion)
• Copy of Approved plans
Talk to us today about a hustle free home loan switch.