Through the provision of accessible financing options, DFCU Bank has started a Home Loans campaign to increase home ownership among its existing customers in Uganda and the Diaspora.
The improved offer enables current and new clients the choice to buy homes at an interest rate of 16% annually for loans denominated in Uganda shillings and 8% annually for loans denominated in US dollars. Customers who buy houses from DFCU’s well-known real estate development partners may additionally access 60% of the applicable loan amount.
For the purchase of land, the bank is providing secured personal loans with an interest rate of 16.5%. The bank will also provide consumers a 30-day grace period throughout the month of their choice, and loan buyouts won’t incur any fines.
Uganda has Africa’s third-fastest population growth rate and one of the greatest rates of rural-to-urban migration. The need for new dwelling units is strengthened by these trends.
The goal of this initiative, according to Miranda Bageine Musoke, Head of Personal Banking at DFCU Bank, is to empower people and organisations who are eager to make house ownership a reality.
“In order to give people more options for home ownership, DFCU Bank has launched this campaign. These options include access to homes bought through our estate developer partners, funding for home loans to buy the homes of their choice, or access to a secured personal loan to buy land.
“Additionally, we have selected multi-currency deals that accept payments in US dollars or Ugandan shillings (UGX) (USD). We are aware that many of our clients who work abroad are looking for acceptable and reasonably priced homes in their native countries.” We are offering targeted solutions through the dfcu Home Loans campaign that are designed to satisfy the requirements of various consumer bases.”
Bageine Musoke also mentioned that customers who purchase homes from vendors who have partnerships with DFCU Bank will be eligible to receive 60% of the loan amount within 24 hours of submitting fully executed mortgage documents, an original copy of the title to the bank, and a bank purchase guarantee.
