PEARL OVERDRAFT

The Pearl Overdraft is a short term credit facility that provides emergency funding for Pearl customers.

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Features & EligibilityRequirementsApply NowCalculator & Details

Features

The secured overdraft is cash backed with security in form of FDs or TBs or TBonds

Eligibility

Hold a pearl account
Have a salary account with salary received for at least 1 month for salaried
Have a pearl account with business proceeds through the account for the self-employed
Be confirmed with at least 6 months in present employment
Have a minimum net salary of UGX 4,000,000

The unsecured overdraft is one that caters to our Pearl Salaried Customers

Eligibility

Hold a pearl account
Have a salary account with salary received for at least 1 month for salaried
Have a pearl account with business proceeds through the account for the self-employed
Be confirmed with at least 6 months in present employment
Have a minimum net salary of UGX 4,000,000 

This is an unsecured overdraft for Pearl Self-employed Customers

Eligibility

Hold a pearl account
Have a salary account with salary received for at least 1 month for salaried
Have a pearl account with business proceeds through the account for the self-employed
Be confirmed with at least 6 months in present employment
Have a minimum net salary of UGX 4,000,000

Benefits

  • Access to Pearl Banking service across branch network
  • Extended working hours to all our Pearl lounge Branches
  • Augmented services from partners like airlines, health clubs, hotels, major supermarkets and insurance companies
  • Pearl loans of up to 200 million shillings unsecured at discounted rates
  • Dedicated Personal Relationship officer
  • Preferential rates on foreign exchange and fast tracking of instructions processing
  • Free travel insurance cover for up to 5 free trips worldwide
  • Hospital cash benefit of upto 14 days spent in the hospital
  • Critical illness cover (Cancer, Stroke, Cardio-circular conditions, Major Organ Failure, Transplant and Major Burns)
  • Last expense benefit for account holders and family

Requirements

Pearl current account holder
Certificate of FD/TB/Bond
1 passport photo
Copy of valid identification
CRB card
Customer consent to place lien on FD/TB
Maximum amount of 90% of FD or 80% of TB/Bonds
Maximum repayment period within tenure of FD/TB/Bond
Available in both UGX and USD
Employer’s letter of undertaking
1 passport size photograph
A copy of a valid identity card from the work place
A copy of employment contract (where applicable)
Six months bank statement (where applicable)
Two pay slips (where applicable)
Credit reference Bureau (CRB) registration card
Payment should not exceed 70% of income after loan instalment amount
Maximum repayment period of 3 months (Renewable upon request)
Available in both UGX and USD
Personal loan insurance protection against death/permanent disability
Maximum Over Draft of 20M
Maximum PTI of 50% of ascertainable income
Maximum overdraft amount of UGX 20M
Maximum repayment period of 3 months
Personal loan insurance protection against death/permanent disability
Available in both UGX and USD

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    Loan FAQs & Details

    Must I have an account with you to qualify for a loan?

    Yes, you must have a savings account with us before you qualify for the loan. The account must also hold at least the equivalent of one installment of your loan repayment as minimum balance for you to qualify for any of our mortgages. For more information about our savings accounts please click here.

    What happens in case of change of employment?

    In case of change of employment we would expect you to communicate to us and let us know about your new employment so that the necessary arrangements can be done to enable you avoid arrears and make payment easier for you.

    Where can I find a Housing Finance Bank branch?

    In order to provide efficient, innovative, customer centric financial services so as to maximize stakeholder value we have several branches all over Uganda, click here to locate a branch near you.

    How do I qualify for a loan?

    It is easy all you need is:

    • Have an account with us
    • Ascertainable monthly income
    • Have copy of the land title
    • Copy of approved building plans
    • Bills of quantities of outstanding work
    • Photographs of four elevations of the building

    For more information on the various types of loans click here.

    Enjoy quick and flexible banking with our Mobile Banking App

    With only a few taps, get all your financial needs fulfilled through the HFB mobile app. It brings you convenient, fast, and secure banking on the go.