General

How is the Loan amount arrived at – Non UBL employees?

INCOME: The borrower’s loan instalment should be equal to or less than 30% of their net pay. Eg: Net pay…
  • INCOME:

The borrower’s loan instalment should be equal to or less than 30% of their net pay.

Eg:

Net pay = 1,000,000/=

Loan instalment </=

(30% X 1,000,000) or 300,000/=

SECURITY:

The amount applied for should be equal potential borrower’s savings plus their shares.

Eg:

Borrower’s savings = 1,000,000.

Borrower’s shares = 500,000.

Borrower qualifies for 1,500,000

(1,000,000 + 500,000)

Posted 2 years agoby finitc

How is the Loan amount arrived at – UBL & UBL Sacco employees?

INCOME: The borrower’s loan instalment should be equal to or less than 30% of their net pay. Eg: Net pay…
  • INCOME:

The borrower’s loan instalment should be equal to or less than 30% of their net pay.

Eg:

Net pay = 1,000,000/=

Loan instalment </=

(30% X 1,000,000) or 300,000/=

SECURITY:

The amount applied for should be less than or equal to three (3) times the potential borrower’s savings plus their shares.

Eg:

Borrower’s savings = 1,000,000.

Borrower’s shares = 500,000.

Borrower qualifies for 3,500,000

(3 X 1,000,000) + 500,000

Posted 2 years agoby finitc

Can one qualify for a loan & a salary advance at the same time?

Yes, one can qualify for both AS LONG AS the monthly payback instalments (when added together) are not more than…

Yes, one can qualify for both AS LONG AS the monthly payback instalments (when added together) are not more than 30% of the individual’s net pay and the total liability is;

  • UBL & UBL Sacco Employees - not more that three (3) times the members savings plus share value.
  • Non UBL Employees – not more than savings amount and shares value for Non- UBL employees.
Posted 2 years agoby finitc

What are the requirements of obtaining a salary advance?

Fully signed advance form. Copy of national ID Latest copy of pay slip
  1. Fully signed advance form.
  2. Copy of national ID
  3. Latest copy of pay slip
Posted 2 years agoby finitc

What are the requirements of obtaining a Loan?

1. Fully signed loan application forms - Obtained from the Sacco (physically or on mail). 2. Fully signed guarantors' form…

1. Fully signed loan application forms  - Obtained from the Sacco (physically or on mail).
2. Fully signed guarantors' form
3. A copy of national ID
4. A copy of the latest pay slip
5. One month’s Bank statement.
6. One must be having savings(at least 3 times what he/she is requesting for)
7. Must have shares.

Posted 2 years agoby finitc

What are the benefits of being a member of the UBL SACCO?

Free financial literacy (savings and credit). Earning Dividends on shares annually (>/= 10%). Earning interest on savings annually(>/=5%). Competitive Loan…
  • Free financial literacy (savings and credit).
  • Earning Dividends on shares annually (>/= 10%).
  • Earning interest on savings annually(>/=5%).
  • Competitive Loan offers (up to 4 yrs, capped at 100m, 15% per year).
  • Competitive emergency cash advances.
Posted 2 years agoby finitc

Who qualifies to be a member of the UBL Sacco?

Employees of UBL (including contractors) Employees of UBL Sacco. Former Employees of UBL.
  • Employees of UBL (including contractors)
  • Employees of UBL Sacco.
  • Former Employees of UBL.
Posted 2 years agoby finitc

What is the UBL SACCO Mission Statement?

To provide quality financial services to members at a fair interest rate, to enhance their economic and social welfare.

To provide quality financial services to members at a fair interest rate, to enhance their economic and social welfare.

Posted 2 years agoby finitc