I&M Bank Uganda introduces collateral-free loan product for clients

I&M Bank Uganda has rolled out a campaign dubbed ‘Top Up’ that will allow customers to get salary loans of up to UGX 200 million with competitive interest rates and flexible repayment plans. Talking about the campaign, Joseph Fetaa, Head of Products and Channels, I&M Bank Uganda, said: “2021 as you all know has been a very challenging year world over but more so for us, we have seen our kids stay home for two years while individuals’ purchasing power has been affected by the slow economic activity.” He added: “Cognizant of this fact and in line with our commitment to being on our customers’ side, we have rolled out the “Top up…” campaign that will allow our customers to get salary loans of up to UGX200 million at attractive interest rates and tenures of up to 5 years. This will enable them to meet their pressing needs like paying school fees among others. The campaign that will run from January to 31st March 2021, attracts an interest rate of 17% p.a and loan tenures of up to 5 years. Notably, there is no collateral required. The Requirements needed to secure the loan include:
  • Salary of UGX 500,000 and above
  • Letter of Undertaking from the employer
  • Financial Card/ Number
  • Valid Work contract
  • 3 Current pay slips
  • National ID and valid work ID
  • Copy of Next of Kin’s ID.
  • One passport size photo
For details, please call +256775490814 or +256703085930, or send an email to workplacebank@imbank.co.ug
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