#yakocares
Salary Loan to Employees
PURPOSE.
For meeting personal requirements.
Target group: Employees of reputed organisations having at least six months of confirmed service subject to our due diligence.
Facility type: Short term loan.
Limit. 3 times of gross salary subject to a maximum UGX 5,000,000.
Tenor. Max 12 Months.
Repayment. Monthly installments.
Processing fee. 1% of the loan amount.
Security. Undertaking from Employer to remit the instalment or Two Guarantors, one preferably a co-employee of substantial means.
Documents Required:
- National ID/ Passport.
- Work permit in case of foreigner.
- 2 Recent Passport size photographs.
- Bank statement of last six months.
- Proof of employment.
- Promissory Note.
- Loan Agreement.
- Letter of Guarantee.
Processing fee.
1% of the loan amount.
Delayed penalty.
1% per month or its part of the amount in default.
Insurance.
2% of the loan amount.
Administrative charges.
1% of the loan amount.
