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The Ordinary Loan product is disbursed once a week and is meant for Members with Investment needs.
FEATURES & CHARGES
• Maximum loan amount UGX 15,000,000
• Maximum loan period 18 months
• Interest 13% p.a. for loan amount below UGX 10,000,000
• Interest 16% p.a. for loan amount above UGX 10,000,000
• Standing membership of 4 months
• Loan Aspplication UGX 20,000
• Loan Commission 2%
• Insurance premium 1%
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REQUIREMENTS
• Employee Id
• Current pay slip
• Contract Letter
• Two Guarantors
• 4 times savings of the loan amount
• 10% shares of the loan amount
LOAN SAVINGS STRUCTURE
UGX 500,000-2,000,000: 100,000
UGX 2,001,000 - 4,000,000: 150,000
UGX 4,001,000 - 5,000,000: 200,000
UGX 5,001,000 - 8,000,000: 250,000
UGX 8,001,000 - 10,000,000: 300,000
UGX 10,001,000 - 12,000,000: 350,000
UGX 12,001,000 - 14,000,000: 400,000
UGX 14,001,000 - 16,000,000: 450,000
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