Group School Fees Loan
Opportunity Bank Uganda Ltd provides individual school fees loans to assist parents and guardians in meeting the educational expenses of their children. These loans are specifically designed to support the payment of school fees and related educational costs.
Features
- For Payment of Schools and other Education related Expenses
- Loan Amount: UGX 100,000-UGX 5,000,000
- Loan duration: 3-12 Months
- Repayment Frequency: Weekly, but dependant on cash flow
Requirements
- Set Up Fees 2.3% of the Loan Amount, - Free Insurance, -Application Fees 5,000 for loans below UGX 2M and 10,000 for Loans UGX 2M and above payable at application, - CRB Search fees UGX 10,000 for Loans below UGX 1M and UGX 15,000 for Loans above UGX 1M payable at appication, -Stamp Duty UGX 15,000 for loans above UGX 3M
- Securities: LSF OF 15% - 20%, Group Guarantee, Other Collateral like land, Chattels and Log Books pledged to group
- Interest rate : Flat