Who this loan is for?
This loan is suitable for SACCO members who wish to invest in improving their homes. It’s ideal for those looking to buy household items like beds, mattresses, and chairs, install domestic solar systems, build new structures, or enhance general living standards.
- Home Improvement Loan (Ekanungi Loan)
Loan Details
Required Documents
- Valid National ID of the applicant
- Completed loan application form
- 2 guarantors with valid IDs
- Passport-sized photo of the applicant and next of kin
- Quotation or budget for the intended home improvement activity (if applicable)
Additional Charges
- 0.7% loan insurance
- 2% loan commission
- 1% loan monitoring/appraisal fee
- UGX 15,000 stationery charge
- UGX 15,000 stamp duty (for loans above UGX 3 million)
Why Choose This Loan
- Supports both basic and advanced household upgrades
- Flexible access for individuals and group members
- Long repayment term with affordable installments
- Empowers members to improve their living conditions and property value
- Loan Features
Loan Amount
Members can borrow between UGX 300,000 and UGX 300,000,000, depending on their needs and repayment capacity.
Repayment Period
The loan is repayable over a period of up to 36 months, providing flexibility for both small and large home upgrades.
Interest Rate
An interest rate of up to 36% per annum is charged on a declining balance basis.
Group Option
This loan can be accessed individually or through a joint group arrangement, with the loan amount determined by each person’s assessed repayment capacity.
Ready to Apply?
Visit your nearest branch or call 0782378716 to speak to a loan officer.
You can also email us at rwanyamahembesacco@yahoo.com.
