Loans offered to salaried employees of reputable organizations and/or companies whose mode of earning is monthly salary. The loan can be used to finance consumer needs.
Main Features:
- Minimum loan amount is UGX. 1,000,000.
- Maximum loan amount is up to UGX.15M unsecured and from UGX 15M to 100M secured with land title.
- Repayable in regular equal monthly loan instalments.
- Loan period of up to 24 months for only loans below UGX. 15m any loan above it will not beyond 36 months.
- Interest rate charged on declining balance.
Basic Requirements:
- Indemnity/undertaking between the Employer and EAPIL ( need to sign M.O.U between EAPIL & the employer)
- Employment on permanent or contractual terms for a minimum period of one year and evidence of appointment and confirmation letter.
- Original copies of salary pay slips for two months prior application.
- Additional security may be required on a case-by-case basis
- Deposit of copies of employment appointment letter and/or contract.
- Application fee
- Bank statement for the last 6 Months.
- Two passport size photograph and a copy of the National ID.