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Elite

Elite

This product is designed to working-class individuals in urban areas. It offers exclusive personalized service delivered through dedicated, reliable, and innovative solutions that make banking convenient for your daily money needs.

The program is designed with products and services that give working-class customers access to loans or convenient savings.

Products designed just for you

Elite Savings

Elite saving account provides a customized savings account that enables employees to save based on their income.

With a dedicated account relationship manager, the elite saving account is designed to help employees save for the future. 

Features

  • Opening deposit of UShs 25, 000 for individuals and UShs. 1,500,000 for premium customers
  • Minimum balance of UShs. 5,000 for individuals & Ushs. 300,000 for premium customers
  • Daily balances and mini-statements are available on request
  • Mobile money transactions on demand
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Key Requirements

  • National identity card
  • Account opening form
  • Minimum balance of 50,000shs
  • 2 Passport photos
  • Account opening fees of 20,000shs.
  • The referee who is a member of any of our programs

Elite Salary Loan

Are you in need of a salary loan?

The salary loan product promotes active participation and patronage of our membership within the SACCO.

Features

  • The Eligible borrower must have been a member for at least 4 months.
  • The maximum loan amount is UGX 10,000,000/= (Ten million Uganda Shillings only)
  • The maximum loan is 5.0 times the share capital of the individual borrower.
  • A borrower must have at least 50% share capital, 50% balance to be offset from the loan disbursed.
  • The loan interest rate is 4% per annum.
  • Interest in this product is charged on reducing the Balance method(amortization)
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  • The maximum loan repayment period is 24 months.
  • A 10% penalty fee is charged for failure to remit any “Due Installment”.
  • Loan repayment is by equal monthly installments.

A loan application is supported by:

  • Salary pay slip of most recent month.
  • Bank statement of most recent 3 months from the bank which receives the client’s salary. 
  • The guarantors must have the capacity to offset any outstanding loan amounts in case the borrower defaults.
  • Borrower’s repayment history.
  • Letter of undertaking from the employer.

Institutional deductions:

  • The loan processing fee is 3.5% of the loan amount.
  • Stamp Duty of Ugx 10,000 on Loan amount equal and above 3,000,000 Ugx

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