Yako Bank is one of the best banks in Uganda. Here we provide details about their savings accounts, account opening requirements,loans,branches and contacts:

Yako Bank List of Accounts

Savings Account (Regular)

Secure your future with Yako Bank

Requirements.

• Minimum Balance of UGX 10,000.
• National ID (nationals), valid passport, visa and work permit (non-nationals).
• Passport size photo.
• Work Id/ employment contract.

Benefits.

• No Deposit fees.
• Convenient access via network of branches.
• Interest rate of up to 3% PA.
• No Monthly maintenance Fees.
• No Hidden or extra charges.

Savings Account (Non Individual)

Save Smart and earn high interest with the Yako Savings account.

Requirements.

• Minimum Balance of UGX 10,000.
• National ID (nationals), valid passport, visa and work permit (non-nationals).
• Passport size photo.
• Work Id/ employment contract.

Benefits.

• No Deposit fees.
• Convenient access via network of branches.
• Interest rate of up to 3% PA.
• No Monthly maintenance Fees.
• No Hidden or extra charges.

Savings Account (Corporate)

Secure your future with Yako Bank

Requirements.

• Minimum opening balance of UGX 500,000 for individuals & UGX 1,000,000 for companies.
• A Penalty of UGX 5,000 for balances below UGX 500,000.

Benefits.

• More rewards with more savings.
• Maximum interest of up to 6% PA.
• Interest is payable half-yearly.
• Additional deposits allowed anytime.
• Convenient Access to your funds.
• No Cash Deposit Fees.

Recurring Deposit Account

Keeping you ahead with the right Deposit account.

Requirements.

• Minimum deposit of UGX 10,000.
• Minimum of 6 Months.

Benefits.

• Attractive interest rates.
• Convenient access to your account via our branch network.
• No deposit fees.
• 80% of deposit amount can be used as security to get a loan with no guarantee, if needed.
• Statement of account provided at maturity

Fixed Deposit Account

Keeping you ahead with the right Deposit account.

Requirements.

• Minimum deposit of UGX 500,000.

Benefits.

• No upper limit for deposit.
• Rewards for depositing more.
• Deposit receipts and certificate issued on same day with all information.
• Pre-mature withdrawal allowed with 1% less interest amount for tenure used.
• 80% of deposit amount can be used as security to get a loan with no guarantee, if needed.

Yako Bank List of Loans

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

Term and Corporate Term Loan

It can either be a personal loan or business loan

A Term Loan is a personal or business loan with a limit of UGX 50,000,000; whereas
A Corporate Term Loan is a personal or business loan of any amount beyond UGX 50,000,000.

PURPOSE.
PERSONAL LOAN: For flexible use. It may involve a mixture of private and business expenses. Deployment of the loan is subjective.
BUSINESS LOAN: To cater for business expenses only. Deployment of the loan is objective.

REQUIREMENTS: (Individual)

• 2 Passport size photographs.
• National ID (for Ugandans) or Valid Passport, Visa and Work permit (for foreigners).
• Pay slips from work or receipts (business) for the last 3 months.
• Appointment letter from work and work ID (for employees).
• Bank statement or Mobile Money Statement for the last 6 months.
• Financial Card.
• Savings Account with Yako Bank.
• Security; Land title or Car logbook with Comprehensive insurance.
• Valuation Report of the security done by Yako Bank.
• Proof of Permanent Residence (Water or Electricity bill in the borrower’s names).
• Cheques (6).
• 2 Guarantors (Guarantor requirements)

• Cheques (in case the borrower does not have cheques).
• Proof or Permanent Residence (Water or Electricity bill in the borrower’s names) Only if the borrower has a temporary residence.
• National ID (for Ugandans) or Valid Passport, Visa and Work permit (for foreigners).
• 1 passport photo each

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; Land title or Car logbook with Comprehensive insurance.
• Valuation Report of the security done by Yako Bank.
• 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

Vehicle Loan

PURPOSE.

To buy personal or business vehicles.

Features.

VEHICLE LOAN: Loan amount is below UGX 50,000,000.

CORPORATE VEHICLE LOAN: Loan amount is beyond UGX 50,000,000.

REQUIREMENTS: (Individual)

• 2 Passport size photographs.
• National ID (for Ugandans) or Valid Passport, Visa and Work permit (for foreigners).
• Driving Permit (Valid).
• Pay slips from work or receipts (business) for the last 3 months.
• roof of business ownership for self-employed people.
• Appointment letter from work and work ID (for employees).
• Bank statement or Mobile Money Statement for the last 6 months.
• Uber Driver Statements for the last 6 months (Uber Driver’s only).
• Financial Card.
• Security; Car logbook of the vehicle to be purchased with Comprehensive insurance.
• Selling Price of the Vehicle

• New Vehicle: Invoice from the Bond
• Old Vehicle: Valuation Report done by Yako Bank

• Cheques (4).
• Proof of Permanent Residence (Water or Electricity bill in the borrower’s names).
• 2 Guarantors (Guarantor requirements)

• Cheques (in case the borrower does not have cheques).
• Proof of Permanent Residence (Water or Electricity bill in the borrower’s names) Only if the borrower has a temporary residence.
• 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; Car logbook of the vehicle to be purchased with Comprehensive insurance.
• Selling Price of the Vehicle

• New Vehicle: Invoice from the Bond.
• Old Vehicle: Valuation Report done by Yako Bank.

• 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.

Labour Export Loan

PURPOSE.

Financing visa and other related fee for the workers going to foreign countries and arranging Air Ticket.

Target group: Recruitment Companies/Consultants for work abroad jointly with the worker going abroad.
Facility type: Short term loan.

Limit. Max 90% of the cost of air ticket and Visa fee within our single borrower exposure limit.

Tenor. Max 12 Months.

Repayment. Monthly installments.

Primary Security.

• Post dated cheques from Recruitment Agency.
• Personal Guarantee by the Director/s of the Company.

Collateral security. Charge on personal assets of the borrower/parents.

Documents Required:

• National ID/ Passport of the worker.
• Copy of Visa/Work Permit.
• 2 Recent Passport size photographs of worker going abroad.
• Copy of offer letter for going abroad.
• Board Resolution from the Corporate Client for opening deposit/loan account/s with us and Power of Attorney granted to its managers, officers and/or employees to transact on the account.
• KYC Documents and photographs of the Directors/signatories. Work Permit/s if Foreigners.
• Certified copies of Certificate of incorporation, Memorandum & Articles of Association, Form 20, Form 7, Form 18 (for address of the company).
• Demand Promissory Note.
• Loan Agreement.
• Personal Guarantee executed by Director/s and parent/s of the borrower.

Processing fee.

1% of the loan amount.

Late payment.

A penalty of 1% of defaulted amount per month or its part.

Insurance.

2% Life Insurance of Borrower is desirable.

Administrative charges. 1% of the loan amount.

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.

Boda Loans

PURPOSE.
For purchase of new boda.

Target group: Boda Riders attached to stages.
Facility type: Short term loan.

Limit. Max 90% of the cost of the Boda within our single borrower exposure limit.

Tenor. Max 24 months.

Disbursement. By way of credit/remittance to the account of the Dealer.

Repayment. Weekly Instalments.

Primary security. Caveat on the Boda to be noted.

Collateral Security. As suggested by the appraising officer.

Documents Required:

• National ID/ Passport.
• Driving Permit.
• 2 Recent Passport size photographs.
• Copy of Invoice.
• Details of Down payment/subsequent payments if any.
• ID from Boda Boda Association/Stage Card.
• Two Guarantors (One another Boda Rider and other from Family).
• Demand Promissory Note.
• Loan Agreement.
• Letter of Guarantee.

Processing fee. UGX 50,000.

Late Payment. A penalty of UGX 5,000 of defaulted amount per month or its part.

Tracking Device. GPS enabled tracking device to fitted to the Boda.

Insurance. Comprehensive Insurance to be done.

Tata Loans

PURPOSE.

Revamp your personal or business or fleet with our hassle free loans.

Requirements (Individual).

• National ID.
• 2 Passport size photos.
• Financial card (in case one does not have, we can process one at the office).
• 6 months bank statement or mobile money statement.
• TIN number.
• Proforma invoice from TATA.
• Invoice from TATA.
• Guarantors (2) should provide; national ID, Passport size photos.
• Down payment.
• Personal cheques.
• Business details/details of other sources of income
• Purpose
• Valid driving permit

Requirements for Non-individual (companies)

• Board resolution
• Memorandum of understanding and articles of association
• Trading license
• TIN number
• Form 20, 18, 7
• Certificate of incorporation
• Invoice from TATA
• Contract with sugar factory
• Lease agreement to hire land to grow sugar cane
• National IDs and passport size photos of the directors
• 6 months bank statement/mobile money statement
• Personal guarantees of the directors
• Financial card for the company
• Down payment

Agri-Business Loans

Purpose

Working Capital, Agricultural/Agro processing of raw materials, Intermediate products, Agri inputs, Equipment acquisition and Grains Trade Finance. Rural transport vehicle/infrastructure and so many more.

Target Groups

Private business, Individual farmers engaged in Agriculture and agro processing. Also cottage industries based on locally available raw materials and labour.

Facility – Type Term Loan / Working Capital
Limit Maximum – UGX 200,000,000

Tenor

• Crop raising tenure of the crop plus cushion for marketing & receipt of payment time lag period.
• Max 48 months for the agro processing, Farm Mechanisation and equipments taken for hiring services to individual farmers, subject to availability of cash flows for repayment of loan.
• Max 12 months the grain trade finance subject to annual review.
• 36 Months for tractor financing & 24 months for implements by individual farmers.

Yako Bank Branches and Contacts

Forest Mall Branch and Head Office

• Jinja Road
  Kampala, 256
• +256) 707 999157
• 08:30 AM – 05:00 PM
• Mon, Tues, Wed, Thur, Fri, Sat

Raja Branch

• Parliamentary Avenue, Kampala
  Kampala, 256
• +(256) 703 300743
• info@yakobank.com
• 08:30 AM – 05:00 PM
• Mon, Tues, Wed, Thur, Fri, Sat

Jinja Branch

• Plot 45, Main Street Jinja
  Kampala, 256
• (+256) 701 658575
• info@yakobank.com
• 08:30 AM – 05:00 PM
• Mon, Tues, Wed, Thur, Fri, Sat