Various Ugandan banks have embraced the personal unsecured loans system. Although they
have underlying features such as a minimum wage rate, an interest rate and a payment time
period, they vary in one way or another, here are three distinct personal unsecured loan
examples in the Ugandan economy:
1. Standard Chartered bank
Standard Chartered bank’s Personal Unsecured Loan scheme offers up to UGX250M to her
clients. In order to enjoy this loan benefit, one shall be required to have a minimum monthly
salary of UGX 500,000 for non scheme and a minimum net monthly salary of UGX 400,000
Once one fully qualifies for this loan, they shall be granted 6 years of flexible repayment
periods. One of Ugandan banks that offer personal unsecured loans.
2. Stanbic bank
Unsecured loan in this financial institution amount up to Ugx 200 million alongside a flexible
repayment period up to 72 months with insurance cover (no liability in case death, permanent
disability and retrenchment).
To make things more interesting, one can access funds conveniently through our digital channels i.e. internet banking. In order to qualify for this, you must be a monthly salary of at least UGX 150,000 and for non- Ugandans, you must be living in Uganda with valid residency permit and or work permit.
Ugandans are expected to be at least 21 years of age and should not exceed the age of 60. You
should also gave a financial card and a national Identity card meant to be used for identification
purposes. One of Ugandan banks that offer personal unsecured loans.
Applicants are meant to be earning a minimum salary of UGX600,000 or $1,500 (only for USD
loans) per month and although that is clear, limited information is shared in regards to the
banks personal unsecured loan schemes.
In order to learn more about the personal unsecured loans offered by various banks in the
country, it would be best to either visit a branch close to you or check their websites and learn
more. One of Ugandan banks that offer personal unsecured loans.