Stanbic Bank cuts rates on personal loans
Ugandans looking to buy their first home can now do so with up to 100% financing
As part of its new campaign, dubbed “Get it done,” the bank also slashed lending rates on personal consumer loans to 15.5%, the lowest on the market and in two minutes for pre-qualified customers via the lender’s mobile banking platform accessible.
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Even customers with loans from other banks can migrate
Clients can access up to Shs 250 million in collateral-free credit, while high net worth clients can access up to Shs 100 million in credit card financing or borrow up to Shs 10 billion to buy property.
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“These are tough economic times for our Ugandan customers and they expect us as their bank to do something about it – which is why we have lowered our personal loan rates to 15.5% and are offering one to customers looking to buy their purchase 100% financing on their first home at 14.5%,” said Sam Mwogeza, Executive Head, Consumer Banking.
As price pressures escalate across the country, many would agree that living under one’s roof is better than renting.
Our offer of up to 100% home financing aims to relieve the customer of the 15-20% deductible in the total value of the property – if you also have a house,” said
Arinaitwe said the home equity financing applies to properties valued in both shillings and dollars and all will enjoy competitive interest rates, starting at just 14.5% (for shillings) and 9% (for USD), with Priority is given to first-time home buyers and they are exempt from paying loan processing fees.
For companies, the bank offers through its partnership with
“Tax payment pressure is a major concern for many of our customers as taxes are a legal obligation. So now we’re allowing them to relieve the IRS and settle the bank while we make sure business doesn’t stop. In this way, all parties benefit. said Aaron Akampa, Head of SME Banking at
According to the
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