REQUIREMENTS: (Individual)

• 2 Passport size photographs.
• National ID (for Ugandans) or Valid Passport, Visa and Work permit (for foreigners).
• Appointment letter from work and work ID (for employees).
• Proof of business ownership for self-employed people.
• Pay slips from work or receipts (business) for the last 3 months.
• Bank statement or Mobile Money Statement for the last 6 months.
• Financial Card.
• Security;
• For developing Land: Land Title in the names of the borrower.
• For buying Land: Land Title in the names of seller and Land Sale Agreement
• Bills of quantities (for developing the land).
• Copy of the building plan (for developing the land).
• Land Valuation Report done by Yako Bank Valuer (Costs incurred by the borrower).
• Cheques (6).
• 2 Guarantors (Guarantor requirements)

• Cheques (in case the borrower does not have cheques).
• National ID (for Ugandans) or Valid Passport, Visa and Work permit (for foreigners).
• 1 passport photo each

• Savings Account with Yako Bank
  

REQUIREMENTS: (Company)

• Certificate of Incorporation or Registration.
• Memorandum and Articles of Association.
• Form 7, 18 and 20.
• Partnership deed in case of a partnership.
• Board resolution (account opening and loan with Yako Bank) registered with URSB.
• Trading license (valid).
• Tax Certificate.
• Audited Books of Accounts.
• Bank statement or financial statements for the last 6 months.
• Proof of works done and current works e.g., contacts.
• Company Debenture Form.
• Financial Cards (for the company and its directors).
• Company Cheques (6).
• National IDs of directors (for nationals), or valid passport, visa and work permit (for foreigners).
• Passport size photos (2 each) for the directors/signatories to the account.
• Security;

• For developing Land: Land Title in the names of the borrower.
• For buying Land: Land Title in the names of seller and Land Sale Agreement.

• Bills of quantities (for developing the land).
• Copy of the building plan (for developing the land).
• Land Valuation Report done by Yako Bank Valuer (Costs incurred by the borrower).
• 2 Guarantors (Guarantor requirements).
• Cheques (in case the borrower does not have cheques).
• National ID (for Ugandans) or Valid Passport, Visa and Work permit (for foreigners).
• 1 passport photo each.
• Company Savings Account with Yako Bank

LOAN CHARGES.

• Loan application fees = UGX 10,000.
• Loan processing fees:

• Housing Loan = 4% of the loan amount.
• Corporate Housing Loan = 2% of loan amount.

• Valuation fees for the security: Land in Kampala = UGX 500,000 / Land Outside Kampala = UGX 600,000.
• Land Search Fees = UGX 100,000.
• Mortgage fees = 0.5% of the loan amount + UGX 250,000 (mortgage processing).
• Financial Card = UGX 30,000 (for first-time borrowers in any money lending institution).
• CRB Fees for each financial card = UGX 20,000 (for non-first-time borrowers).
• Yako Savings Account for borrower

• Individual = UGX 10,000.
• Company = UGX 50,000.

DOWN PAYMENT.

At least 30% of the cost of acquiring the land or developing the land.

LOAN TENURE.

2 – 3 years.

INTEREST RATES.

Reducing Balance rate = 2% per month / 24% per annum.

DISBURSEMENT MODE.

By way of credit remittance to the bank account of the seller.

REPAYMENT.

Monthly installment deposits into the borrower’s Yako Savings Account.