Ugandans looking to buy their first house can now do so with up to 100% financing from
As part of its new campaign dubbed "Get it done" the bank has also slashed lending rates on personal consumer loans to 15.5%, the lowest in the market and accessible within two minutes to prequalified customers through the lender's mobile banking platform.
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Customers with loans in other banks can also migrate to
Customers can access up to Shs 250 million in collateral free credit while affluent customers with a high-net worth can access credit cards financing with up to Shs 100 million or borrow up to shs10billion to buy property.
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"These are tough economic times for our Ugandan customers, and they expect us as their bank to do something about it--so we have reduced our lending rates on personal loans to 15.5% and offering 100% financing to customers seeking to buy their buy their first house at 14.5%," said Sam Mwogeza, the executive head, Consumer Banking.
With price pressures escalating across the country, many would agree that one is better off living under their own roof than renting,
Our offer of up to 100% home financing is aimed at removing the burden on the customer of the 15-20% contribution of the asset's total value--if you have a house too," said
Arinaitwe said the home financing is for properties valued in both shillings and dollars and will all enjoy competitive rates starting from as low as 14.5% (for shillings) and 9% (for USD) with priority given to first time home buyers who will also be exempted from paying loan processing fees.
For businesses, the bank, through its partnership with
"The tax payment pressure is a huge problem for many of our customers as taxes are statutory obligations.We are therefore now enabling them to clear the taxman and settle the bank while ensuring that business doesn't stop, this way, all parties benefit," said Aaron Akampa, head of SME banking at
According to the
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