The product has the following terms;

• The Eligible borrower must have been a member for at least 4 months.
• The loan is immediate after fulfilling the obligations.
• The maximum loan amount is UGX 6,000,000/= (Six million Uganda Shillings only)
• The loan interest rate is 1.25% per month.
• The maximum loan repayment period is 6 months.
• For every loan, a contract document is required for those on contract with the employer.
• Interest on this product is charged on reducing the Balance method(amortization).
• A 10% penalty fee is charged for failure to remit any “Due Installment”.
• A loan application is supported by:
  • Salary payslip of the most recent month.
  • Bank statement of most recent 3 months from the bank which receives client’s salary.
  • The guarantors must have the capacity to offset any outstanding loan amounts in case the borrower defaults.
  • Staff on Contract need to present a copy of the Contract document from the employer.
  • Borrower’s repayment history.
• Institutional deductions:
• The loan processing fee is 0.5% of the loan amount.
• The Loan Insurance fee is 1% of the loan disbursed
• Forms of loan payments:
  • By Salary deductions.
  • School fees loan of 6M for 6 months at 15% per annum