Fixed Term Loan
A fixed term loan involves a pre-arranged limit over an agreed period. Under this type, we provide for loans of UGX550, 000 to UGX6-million that can be repaid over 12 to 24 months.The repayment amount on your loan may not be more than 30% of your net income.
What does it offer me?
- Helps you meet both your short term and long term obligations.
- Personal loan protection plan to cover death or total disability
What do I need to apply?
- You must be 18-60 years old for all other professions but up to 70 years for university lecturers and judges
- You must have been in continuous employment for at least 6 months
- Your net salary must be at least UGX 350,000
- You must also have managed the account responsibly with no dishonors.
You must have had a bank account into which your salary was paid for at least 6 months. The account should have been held with Stanbic Bank for at least six months; or with another bank for an additional 3 months; if previous account was held by another bank, you will need to provide statements of your accounts held at other banks.