PostBank launches land loan
Mar 30, 2009
PostBank has introduced Kyapa loans designed for tenants who wish to acquire titles from land owners.
By Josephine Maseruka
PostBank has introduced Kyapa loans designed for tenants who wish to acquire titles from land owners.
Launching the Kakiri PostBank branch in Wakiso district on Friday, Stephen Mukweri, the managing director, said the Kyapa loans were started after the bank realised that most tenants were at risk of being evicted.
“PostBank will help those who want to acquire land titles through loans at an interest rate of 10%. Repayments will be tagged to cash flows. and can be paid up to 10 years,†Mukweri said.
He told guests who included the Vice-President, Prof. Gilbert Bukenya, state minister for micro-finance Ruth Nankabirwa, MPs and district officials that to be eligible for the loan one had to have a consent agreement from the land owner.
Mukweri said the bank, with 22 branches countrywide, would soon introduce mobile phone banking, water harvesting and bio-gas loans for schools and other institutions.
The board chairman, Eldard Kansiime, said the bank had applied to the central bank for a commercial banking license.
Kansiime said the bank’s paid-up capital of sh8b was satisfactory but not substantial enough to implement their strategic plans.
PostBank has introduced Kyapa loans designed for tenants who wish to acquire titles from land owners.
Launching the Kakiri PostBank branch in Wakiso district on Friday, Stephen Mukweri, the managing director, said the Kyapa loans were started after the bank realised that most tenants were at risk of being evicted.
“PostBank will help those who want to acquire land titles through loans at an interest rate of 10%. Repayments will be tagged to cash flows. and can be paid up to 10 years,†Mukweri said.
He told guests who included the Vice-President, Prof. Gilbert Bukenya, state minister for micro-finance Ruth Nankabirwa, MPs and district officials that to be eligible for the loan one had to have a consent agreement from the land owner.
Mukweri said the bank, with 22 branches countrywide, would soon introduce mobile phone banking, water harvesting and bio-gas loans for schools and other institutions.
The board chairman, Eldard Kansiime, said the bank had applied to the central bank for a commercial banking license.
Kansiime said the bank’s paid-up capital of sh8b was satisfactory but not substantial enough to implement their strategic plans.