Who this loan is for?
This loan is ideal for SACCO members who want to install solar energy solutions for their homes, farms, or small businesses. It supports rural electrification, farm productivity, and sustainable energy usage.
- Solar Loan
Loan Details
Required Documents
- Valid National ID of the applicant
- Completed loan application form
- 2 guarantors with valid IDs
- One passport-sized photo of the applicant and next of kin
- Proforma invoice or quotation from a solar provider
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
- Promotes sustainable and affordable energy use
- Supports both domestic and agricultural solar needs
- Offers long repayment periods with competitive interest
- Encourages energy independence in off-grid areas
- Loan Features
Up to 300M
Loan Amount
Members can borrow from UGX 300,000 up to UGX 300,000,000, depending on the scale of the solar system they wish to install.
Up to 36 months
Repayment Period
The loan can be repaid over a maximum period of 36 months, allowing for manageable monthly payments.
33.6% per annum
Interest Rate
An interest rate of 33.6% per annum is charged on a declining balance basis.
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.
