Home Improvement Loan

For the majority of people, a house is the most important personal asset that they will acquire during their lifetime. Keeping a house in good condition through upgrades and improvements ensures its value appreciates over time. Thus, home improvements not only enhance living conditions but are an investment and a sound legacy for family members.
Adding an annex to an existing house to host a newborn or aging parents, replacing a leaking roof or installing a bathroom are only some of the many possible value adding projects that can be undertaken with a home improvement loan. A house also has the potential to be leveraged for future business opportunities. Many entrepreneurs often use their homes as productive assets in generating income. The home can be a place to produce goods, store inventory or conduct business.
Product Features;
- Minimum loan amount of Ugx 2,000,000
- Competitive interest rates
- ● Convenient repayment period of up to 60 months
Benefits of financing with EFC Uganda
- Competitive rates calculated on a reducing balance
- Lower interest rate for repeat loans
- Quick and easy access to credit
Eligibility
- The borrower must be an entrepreneur or merchant, or other legal entity engaged in income-generating activities
- Be of the age of majority.
- Have at least 6 months experience in the same business;
- Be able to demonstrate competence and expertise in the particular business sector
- Have a guarantor
- Have collateral (e.g business equipment, vehicle, house or land)