Housing Finance Bank launches unsecured salary loan

Housing Finance Bank (HFB) has launched a consumer loan campaign aiming at delivering improved financial access to its growing customer base.

Speaking at the launch, Mr Michael Mugabi, the Managing Director at HFB, said they have deliberately made the loans unsecured for the salaried customers, eliminating the need for any form of collateral. 

“Our customers can now access up to Shs 300m to take care of their personal development and acquire homes, plots of land, cars and other requirements as the country embarks on the path to economic recovery,” said MD Mugabi.

Asked what one needs to access this loan, Mr Mugabi said, “All they need is a salary account and an employment contract with your organisation.”

The Bank is offering amounts as high as Shs300m, with long repayment periods of up to 72 months to enable customers to have lower monthly instalments.

For customers who wish to transfer their loans to Housing Finance Bank, special waivers on arrangement fees are readily available.

Mr Mugabi emphasized that one does not need to have banked with the Housing Finance Bank to borrow.