Coin Loans

This loan facility is designed for small businesses, to provide solutions to their immediate financial needs. Disbursements are made in coins.

REQUIREMENTS

  • A valid identification of individual or registered business, like validdriving permit, passport, voter’s card and employer’s identity card
  • An account well maintained for atleast six months with no unpaid cheques
  • For new accounts, certified statements from previous banks for atleast six months
  • Proof of running business, if a non-salary earner.
  • A complete loan application form CRB financial card reference number
  • Disbursements will be made in coin denominations of UGX 50, UGX 100, UGX 200 , UGX 500 and UGX 1000 in absence of coins

COLLATERAL

  • A guarantor who holds an account with Tropical Bank Limited
  • Motor Vehicle log book
  • Certificate of land title deposit

LIMIT

  • Minimum advance of UGX 500,000
  • Maximum advance of UGX 1,000,000

REPAYMENT

  • Monthly repayment for a period between 3 months and 12 months

BENEFITS

  • Low interest rate at the Prime Lending Rate
  • Loan top up after 50% of the loan is repaid
  • Early repayment is acceptable with no charge or penalty