getting a Stanbic bank salary loangetting a Stanbic bank salary loan
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Stanbic Bank Uganda Limited offers a wide range of loan options that can be tailored to suit the needs of individual clients.

In This Article:

At Stanbic Bank Uganda Limited, you can choose from a wide variety of loan options that are tailored to suit your specific needs or circumstances.

If you’re looking for a loan where you can access significant sums of money and repay it over a lengthy period with reasonable monthly installments using your earnings, then you should consider getting the Stanbic Bank salary loan/Personal salary loan.

In general terms, Payday loans are another name for salary loans. It is intended for those who get a steady income, such as a salary or pension. On the amount borrowed, an interest rate is charged. Salary deductions are used to pay back the entire debt.

Requirements for getting the Stanbic Salary loan

Following down below is a list of what Stanbic bank requires from you during the application process for a Salary loan. 

  1. Must have a Valid National ID
  2. You must have a financial card.
  3. You must be a Stanbic customer.
  4. Must be paid a paycheck each month
  5. For non-Ugandans, you must have a valid work permit or residency permit and be residing in Uganda.
  6. Should bring in at least Ugx 150,000 per month in net income.
  7. Must be at least 21 years old (but not older than 60 years on the expiration of the facility).
requirements stanbic salary loanrequirements stanbic salary loan

Benefits of the Stanbic Bank salary loan 

  • The market’s best interest rates.
  • Amounts of up to Ugx 200 million in unsecured loans
  • Flexible 72-month repayment period.
  • Insurance protection (no liability in case of death, permanent disability, and retrenchment).
  • Through our digital methods, such as internet banking, you can easily access money.

What it costs to get the type of Stanbic loan

Regulatory fees

Stamp duty of UGX15,000 is charged on loans exceeding UGX3,000,000.

Credit Life insurance

0.13% of the total loan balance is charged as a flat monthly insurance fee.

Bank loan arrangement fees

2% of the loan amount

Conclusion

A quick and simple option to obtain much-needed cash is through Stanbic bank salary loans. Only borrow against your paycheck if it is required to avoid paying hefty interest! 

The lowest interest rate for the amount you want to borrow should be chosen if a salary loan ends up being your best option.

So head on over to the nearest Stanbic Bank branch and request a personal salary loan. Provided you’ve read and understood the requirements, you can be sure that you will be granted a Stanbic salary loan when you apply.

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