Land loans at dfcu Bank
DFCU Bank has launched a land acquisition loan. Paul Musoke, the executive director for consumer banking, explained that with the increasing value of land, the new product would help many Ugandans acquire property.
By Peter Kaujju
DFCU Bank has launched a land acquisition loan. Paul Musoke, the executive director for consumer banking, explained that with the increasing value of land, the new product would help many Ugandans acquire property.
“Our analysis has shown that there is a very big demand for a loan facility that would enable Ugandans to invest in land that is affordable without the complication of having to provide security before hand,†Musoke said.
The facility is available for land within a radius of 30 miles within Kampala.
Musoke said customers could access up to 100% financing with a repayment period of up to four years.
Salaried and non-salaried customers but with steady incomes of at least sh200,000 per month, can borrow between sh5m and sh75m at 20% interest rate.
“The housing gap is very huge.
“We need active participation of property and real estate developers to close it,†Musoke said.
Uganda is estimated to have a deficit of 500,000 housing units.
Within the city alone.
DFCU Bank has launched a land acquisition loan. Paul Musoke, the executive director for consumer banking, explained that with the increasing value of land, the new product would help many Ugandans acquire property.
“Our analysis has shown that there is a very big demand for a loan facility that would enable Ugandans to invest in land that is affordable without the complication of having to provide security before hand,†Musoke said.
The facility is available for land within a radius of 30 miles within Kampala.
Musoke said customers could access up to 100% financing with a repayment period of up to four years.
Salaried and non-salaried customers but with steady incomes of at least sh200,000 per month, can borrow between sh5m and sh75m at 20% interest rate.
“The housing gap is very huge.
“We need active participation of property and real estate developers to close it,†Musoke said.
Uganda is estimated to have a deficit of 500,000 housing units.
Within the city alone.