Temporary Loan

Temporary Loan is a very short term loan offered by the Bank with the purpose of assisting borrowers to overcome short-term liquidity problems. It is not intended for working capital or investment purposes.

Main Features:

• Interest charged on declining balance
• Minimum loan amount is UShs. 50,000/=
• Maximum loan amount is UShs. 15million
• Regular and lump-sum repayment options
• Maximum loan period of up to 3months

Basic Requirements:

• Possession of an active current account with the bank for at least 3months
• Security for the loan.
• Applicant must be resident in the branch designated area of operation.
• Applicant must possess a minimum of one year experience in business to be financed as an owner/manager.
• Application fee of UShs. 5,000/=.
• Commitment fee of 2% of loan amount.

Benefits:

• Faster processing speed.
• Competitive interest rate.