KAMPALA — dfcu Bank has launched a 12-week special financial package to help businesses recover from a thread of economic challenges both internal and external.
“Under this arrangement, dfcu bank would provide collateral free loans of up to UGX 250M to customers who take out personal loans, and an option of a repayment holiday of up to 75 days
Robert Wanok, the Head, Personal and Business Banking at dfcu Bank told reporters on Wednesday the bank’s target audience for the personal loan offer are salaried and professionals earning regular income.
“They can access it at any of our branches.” Wanok said.
“Customers who transfer their existing personal loans from elsewhere to dfcu Bank will be charged no arrangement fees.” He adds.
“In addition, loan arrangement fees have been discounted to 1% for individual customers who take up new loans and 0.5% for those who top up their existing facilities at dfcu Bank between now and 15th April 2023.”
Miranda Bageine, the Head, Personal Banking at dfcu Bank said the bank also designed an exclusive package to support schools as they prepare to receive students for the new academic year.
“The offer dubbed “the school bridging overdraft’ allows school owners to access unsecured short-term facilities of up to 30% of their expected school fees collections, to take care of urgent working capital needs.” Miranda Bageine explains.
“As for parents who pay their school fees through dfcu bank during this campaign period, they automatically enter a draw and have a chance to win up to UGX 500,000 to help cover outstanding back- to- school requirements,” she added.
Ronald Kasasa, the head of business banking at Dfcu , reiterated the bank’s support towards schools during this back-to-school period.
“The beginning-of-term can be a tough period to run an institution within the education sector. Teachers’ salaries, food supplies, utility bills, scholastic materials, and any other day -to day essentials can put a strain on schools. Our school bridging overdraft allows school owners to access unsecured short-term facilities of up to 30% of their expected school fees collections, to take care of urgent working capital needs. The overdraft is payable in three months, and this gives an opportunity to the school to repay when the cash flows from tuition collections are steady and stable,” he said.
