#yakocares
Housing and Corporate Housing Loan
It can either be a personal loan or business loan
HOUSING LOAN: Loan amount is below UGX 50,000,000.
CORPORATE HOUSING LOAN: Loan amount is beyond UGX 50,000,000.
PURPOSE.
To buy land or develop land (build).

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.