This loan enables you to purchase or construct 2 or more residential units to let. The loan amount is up to 80% of the property value and is payable in a maximum period of 20 years.
Benefits:
- Long repayment period of up to 20 years
- High loan amounts of up to 80% of the loan value
- Loan repayments of up to 35% of your ascertainable gross income
- Loan payable on a reducing balance basis in predictable equal monthly installments
- Competitive interest rate
Pre-application check list:
- Copy of a valid land title
- Copy of approved building plans
- Bills of quantities of the outstanding work (in case of construction)
- Photographs of at least four elevations of the building
- Copy of a sale agreement (in case of purchase)
- Environmental impact Assessment report from National Environmental Authority ( NEMA) for projects of UGX 1 billion and above
What you need to get started (Salaried Persons):
- Proof of borrower’s income i.e. Letter from employer, pay slips for the last 2 months or a Bank
- statement for the last 12 months
- Completed application form
- Copy of financial card, valid ID and passport photos
- Spousal consent or statutory declaration for marital status
- Certified copies of Company founding documents (in case of self-employed applicants)
What you need to get started (Self Employed Persons):
- Companies have to present audited financial statements, certificate of incorporation, memorandum and articles of Association, copy of Form 7 and a Bank statement of 2 years
- Sole proprietorship need certificates of registration and Bank statements for 2 years
- Completed application form
- Copy of financial card, valid ID and passport photos
- Spousal consent or statutory declaration for marital status
- Certified copies of Company founding documents (in case of self-employed applicants)
