Home loans are important in Uganda because they ensure that you own your own home and pay for it later. Below we provide a list of banks and institutions offering the best mortgages and home loans in Uganda:

Housing Finance Bank

Mortgage Loan

The maximum loan is up to 300 million shillings not exceeding 60% of the property value and its payable in a maximum period of 10 years.

Stanbic Bank Uganda

House Completion Loan

Do you need to complete your dream home? It Can Be possible to meet your goal. Let’s give you the financial boost you need to complete your home.

20 years—Flexible Repayment periods

30 MillionUGX —Minimum Amount available

1 BillionUGX—Maximum loan amount

House Purchase Loan

Are you are looking to buy a house or flat? Buy an existing house, condominium or apartment with 100% financing and zero loan arrangement fees. Get your property with reputable developers, with affordable insurance from our trusted partners.

10 BillionUGX—Maximum Loan Amount

30 MillionUGX–Minimum Loan Amount

Flexible Repayment periods up to 20 years

Centenary Bank

Cente Mortgage Loan

Product Features

• Minimum loan amount of UGX 20 million and maximum UGX 300 million
• Maximum period of up to 10 years
• Interest charged on reducing balance Basis
• Grace period of up to 6 months
• Repayment plan aligned to cash flow of the borrower

Benefits

• Short and straight forward processing within seven working days
• Comparatively low interest
• No monitoring fees charged
• Long loan periods of up to 10 years
• Flexible repayment plan
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Requirements

• Hold a Current or Savings Centenary Bank account
• Completed mortgage application form
• Payment of mortgage processing fees
• Financial card
• Residence within the bank’s area of operation
• Eligible adult should not be more than 55 years at the time of application
• Existence of verifiable source(s) of income
• Borrower’s contribution of at least 30% of the total housing project cost
• Proof of property ownership – genuine land title or copy of certificate of title for the property to be purchased or developed
• Valid identity documents
• Most recent passport photos (2)
• Bill of Quantities (BOQ) for the house in the case of construction
• Approved architectural design for the house in case of construction
• Loan to value ratio of at most 80%.
• Applicant must be a resident within the Branch’s designated area of operation
• Eligible property – single family and multi-unit homes

Equity Bank Uganda

Diaspora Mortgage loan

This facility enables you to borrow funds towards successful home ownership back home while you work in the diaspora.

Great features

• Fast loan processing
• Affordable rates
• Flexible repayment terms
• Available to all Ugandans in the diaspora

Why you should sign up for this product

1. The property is insured.
2. The property can generate rental income.

Eligibility

Any diaspora-based client who wishes to purchase property and has the ability to meet the loan repayments.

Repayment terms

The repayment period for this loan facility is a maximum of 10 years.

I&M Bank Uganda

Regular Home Loan (EMI Option)

This facility is also available in US Dollars.

1.Optional pre-approved Visa international credit card with a waiver on joining fees;

2.Free fire insurance cover for the first year with GA Insurance Co Ltd;

3.Pricing concessions for increased margin of financing.

Special benefits and beatures

• A unique step-up option, whereby you can choose to pay lower monthly repayments in the initial years and higher amounts in later years, thereby matching your repayments to your future growing income
• Competitive pricing on Home Care insurance
• Pre-approved Visa international credit card with a waiver on joining fees
• Free fire insurance cover for the first year with GA Insurance Co Ltd
• Up to 20 years repayment period for Uganda Shillings mortgage and 10 years for US Dollar denominated mortgage

Wide range of mortgage facilities

• Purchase of new or existing residential property
• Purchase of undeveloped plot or land
• Construction of residential property on a previously purchased land
• Financing the purchase of a unit being built by a reputed developer
• Take over of existing house loans from other financing institutions
• Top-up of existing Home Loan with l&M Bank
• Renovation, repairs or extension of existing property
• Equity release – raising funds from the value of your existing house Residential plot purchase
• Commercial mortgage – purchase of commercial property, plot or construction Mortgage in Foreign currency – US Dollar denominated

For Diaspora Cusotmers – Deal Facilitation

• Dear Facilitation

• We endeavour to make your property purchase deal hassle free. We link you to professional services like lawyers, valuers, surveyors etc and facilitate payments/documents execution for your property purchases.

• Our Deal Facilitation services, offered from our Diaspora Banking Unit, are provided free of charge to Diaspora customers who sign-up for our mortgage services, and on payment of a facilitation fees for Diaspora customers who prefer to use their own funds for purchasing their properties.

UNFCU

Variable rates as low as 5.90%–6.40%2—Choose a fixed or variable rate.

High limits–Qualified members can borrow as much as $1,000,000 in US dollars.3

Save on fees—Pay no pre-payment penalties and a low 1% processing fee.

Choose a rate option

Variable rates as low as 5.90%–6.40%.²

• The interest rate you pay will be subject to change each year after your initial fixed period.
• Rate caps limit how much your rate can change. This is to protect you from wide fluctuations.

Fixed rates as low as 7.99%–8.99%.

• Lock in your rate so you pay the same amount each month.

Uganda mortgage details

	Variable rate	Fixed rate
Rate	As low as 5.90%–6.40%2	As low as 7.99%–8.99%
Loan amount	$50,000 to $1,000,0003	$50,000 to $1,000,0003
Term	15 years4, with an initial fixed period of three years or five years	15 years4
Processing fee	1% of your approved mortgage amount	1% of your approved mortgage amount
Pre-payment penalties	$0.00	$0.00
Insurance requirements	Life insurance (for loan amounts over $100,000) Property insurance	Life insurance (for loan amounts over $100,000) Property insurance
Other fees	Valuation fee Legal fee Stamp duty fee	Valuation fee Legal fee Stamp duty fee

Check your eligibility

Uganda mortgages are available to qualified members who:⁵

• Intend to occupy the property being financed (investment properties are not eligible); and
• Are not residents of the United States; and
• Are UN employees with current professional or field service contracts earning income in an eligible currency; or
• Are UN National Professional Officers or General Service staff members in an eligible country earning an eligible income currency, or
• Are UN retirees receiving pensions in an eligible currency.

ABSA Bank Uganda

Home Loan

Features

• Higher loan amounts of up to UGX2 billion or USD500,000
• Flexible loan periods of up to 25 years (if you buy to live in)
• Flexible loan periods of up to 20 years (if you buy to let)
• Loan to value of up to 70% if you buy to let
• Loan-to-value ratio of up to 85% if you buy to live in
• Joint applications acceptable for husbands and wives

Fees

• Loan application fee of UGX20,000/USD6
• Arrangement fees of 2% of loan amount
• No early repayment fee
• Valuation and quantity surveyor fees tiered to value of loan
• Mortgage protection cover (life and disability) 0.95%
• Property insurance covering fire and destruction 0.25%
• Valuation 0.15%

Documents required

Personal details

• 4 passport photos
• Passport (Proof of Nationality and date of birth)
• Bank statement

Employment details

• Copy of contract/appointment
• Proof of income by way of 3 recent salary slips
• Work ID (further proof of employment)
• Letter of undertaking from the employer

Financial details

• Bank statements for the last 12 months
• Loan statement
• Financial card
• E-tax number (TIN number)

Security details

• Copy of land title
• Approved building plans
• Property should be at least 80% complete (for purchase, equity release or refinance)
• Property should be at least 50% complete for home completion
• Consent letters and lease rental receipts in case land is on lease hold
• Sale agreement signed by both buyer and vendor for purchases
• Photos of the property to be used as security (inside, outside and neighbourhood)
• Bills of quantities (BOQs) from bank-approved quantity surveyors
• Initial valuation report indicating level/percentage of completion and current value of the property
• Insurance policies, both property and life cover

NCBA Bank Uganda

Top of Form

Bottom of Form

Mortgage Loan

Get up to 90% of the value of the ready or off-plan residential units you are looking to buy within Kampala metropolitan and major urban and rural areas within major towns. Becoming a home-owner is now an achievable goal with NCBA Bank, with flexible terms and repayment periods of up to 25 years. Features Minimum

Get up to 90% of the value of the ready or off-plan residential units you are looking to buy within Kampala metropolitan and major urban and rural areas within major towns.
Becoming a home-owner is now an achievable goal with NCBA Bank, with flexible terms and repayment periods of up to 25 years.

Features

• Minimum loan amount of UGX 30,000,000.
• Maximum loan amount based on repayment ability.
• Loan repayment period of up to up to 25 years for loans in UGX.
• Loan repayment period of up to 20 years for foreign currency for Ugandan nationals working in the country.
• Loan repayment period of up to 20 years for foreign currency for Ugandan nationals working in the country.
• Loan repayment period of up to 15 years for foreign currency-denominated loans customers in the Diaspora.
• Loan repayment period of up to 10 years for non-Uganda nationals based in Uganda.
• Free mortgage Protection Insurance cover of mortgages up to UGX 700M, without need for medical checkup, retrenchment cover and social perils cover.
• Loan-to-value ratio is based on the value or selling price of the property, or whichever is lower.
• Financing of up to 90% of properties in Kampala or within the city council area.
• 70% mortgage financing for office space.
• 80% mortgage financing for diaspora customers.
• Available in USD, EUR, GBP and UGX, based on borrower’s income.
• Interest is calculated on a reducing balance basis.

Bank of Africa Uganda

Home Loan

Package benefits and features

• Enjoy discounted interest rates
• Financing options of up to 80% value of property
• Get amounts of up to UGX 1 Billion or USD 300,000 – limits may defer based on product type
• Flexible and affordable monthly repayments of up to 25 years -limits may defer based on product type
• Peace of mind with our home loan insurance covers

Fees

• Application fee – UGX 65,000
• Other variable fees including but not limited to valuation, security perfection fees can be accessed through credit pricing guide included in the services and products pricing guide.

What you need

• Completed loan application form (provided by the bank) or apply online below this section
• Valuation report of property to be financed
• Sale agreement of property to be financed
• Copy of financial card

Salaried individuals specific requirements:
In addition to the above general requirements, please present the following;

• Copy of employment contract, appointment and confirmation letters
• Employer letter of undertaking
• 3 months’ salary account bank statement
• Employees authority to offset loan (for those borrowed in other banks)

Non-salaried individuals specific requirements:
In addition to the above general requirements, please present the following;

• Copy of trading license
• 6 months account bank statement
• Verifiable source of income

Bank of India Uganda

BOI STAR HOME LOAN

Main features

• For purchase/construction /extension/repair/renovation/of a residential property.
• For purchase of apartments/units – owner occupied or investment.
• Salaried employees, Professionals like Doctors, Lawyers, Engineers, Chartered Accountants, and other Self-employed persons easily have access to this facility.
• Ordinary housing finance shall not be made available to retired persons and persons over the age of 50. However we may, on merits, consider Housing Loans to these individuals’ up to the age of 60 years if the borrower has an independent source of regular income to take care of loan repayment and/or where the unit is jointly owned by a co-borrower satisfying our eligibility requirements.
• The maximum repayment period is 10 years including moratorium subject to annual review of the account. The maximum repayment period can be extended upto15 years at the discretion of BOIUL.

Basic Requirements

• Formal Application stating the amount, purpose, tenor, source of repayment and proposed security.
• Third party guarantee of persons with adequate worth. (Can be waived at the discretion of BOIUL depending on the standing of the borrower).
• BOIUL will hold a mortgage charge on the property (land/house).Post-dated cheques from the borrowers running account if he is not maintaining his account with us.
• The property must be adequately insured noting BOIUL as the mortgagee on the policy.
• Personal guarantee of spouse/family members and or third party with adequate worth is required in case of individuals.
• The guarantee links security to a loan, servicing to loan and establishes the liability for repayment of debt on a natural person.
• Audited accounts for at least three financial years, prepared by a Certified Public Accountant, with an unqualified opinion.
• Projected Cash flows for the period of financing.
• Valuation report for the property/ assets to be pledged as collateral.
• Financial Card Number for the borrowing entity.
• Any other information as may be requested by the Bank, depending on the nature of the request.

Finance Trust Bank

Smart Home Loan

The Smart Home Loan is a low cost housing loan designed for low and medium income people who wish to improve their housing conditions by either constructing new homes or improving their current houses. The loan can be accessed by both individuals and group customers.

Benefits

• Grow your asset base.
• Increase your revenue sources when you build rentals.
• Improve your housing conditions.
• Get financing for your housing project in phases.
• Pay loan in small manageable instalments Individual borrowers can pay loan up to 5 years while group loan borrowers up to 2 years.
• Affordable interest rate.
• Build collateral for future loans.
• Housing support services available to all smart home loan borrowers.

Requirements

• The borrower must be an adult above 18 years of age.
• Must have and present the acceptable form of personal identification (ID).
• Must have a verifiable and reliable income source in existence not less than 1 year.
• Must have and present impeccable proof of land/home ownership (recognized locally) where the construction and or improvement is to be carried out.
• An account with Finance Trust Bank
• Financial card.