Emergency loans

This loan is to enable members meet unforeseen obligations 
It is extended to members based on either an allotment change or projected cash inflow, remittance of periodic payments directly to SteadFin bank A/C  or standing order.

Features

  • Loan amount of up to UGX 20 million.
  • Competitive interest rate of 10% on repayment 
  • Payable in 4-6 months in regular bi-weekly installments or as a lump sum.
  • Collateral: Unsecured but insured at 1%

Benefits

  • Average loan amounts that are 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

  • Proof of source of income (earning slip to prove grade), business streams (other income sources). 
  • Completed Loan application form
  • Change of allotment (if required)
  • Limited to membership
  • Postdated Cheque (loan + interest) for all balloon payments