Emergency loans
This is an unsecured loan offered to enable members to meet unforeseen obligations. It is extended to members based on their allotment or projected cash inflow, remittance of periodic payments directly to SteadFin bank A/C via standing order.
Features
- Loan amount of up to UGX 20 million.
- A competitive interest rate of 10% p.a on repayment
- Maximum repayment period of 6 months repayable in:
- Regular bi-weekly installments
- Monthly installments
- Lump sum (where applicable)
Plan Benefits
- Convenient and easily accessible to settle emergencies
- Manageable loan installments whose amounts are based on the borrower’s defined cash flows.
- No Collateral required
Requirements
- Completed Loan application form
- Change of allotment (if required)
- The available source of income (earning slip to prove grade), business streams (other income sources).
