Stanbic Bank Uganda has expanded its unsecured lending offering, allowing salaried customers to borrow up to Shs350 million as the bank seeks to tap into demand for credit from households, businesses and farmers.
The new lending terms were announced during the relaunch of the bank’s ‘Oli in Charge’ campaign in Kampala, with the initiative coming as families prepare for the third school term and businesses and farmers enter a period of increased financial activity.
Under the revised offering, salaried customers can access unsecured loans of up to Shs350 million, with repayment periods of up to 120 months. Non-salaried customers, including farmers and entrepreneurs, can access unsecured financing of up to Shs250 million.
Sylvia Atuhairwe, Head of Distribution at Stanbic Bank Uganda, said the revised offering is intended to simplify access to credit for customers facing different financial needs.
“Behind every loan application is a parent preparing for a school term, a business owner seeking to expand, a farmer investing in production, or a family planning for the future,” Atuhairwe said.
The bank is also pushing customers towards its digital lending and payment platforms, which include the Stanbic Mobile App, USSD, internet banking and its agency network.
Yvone Namutosi, Head of Digital and E-Commerce at Stanbic Bank Uganda, said customers can apply for loans through the bank’s digital platforms and receive decisions in as little as two minutes.
The bank said customers using its digital channels can access Instant Cash loans of up to Shs5 million, with interest-free access available under specified campaign terms.
Stanbic is also offering waivers on selected transactions linked to digital loan disbursements as part of efforts to encourage customers to use its digital channels.
The expanded lending comes at a time when households and businesses continue to contend with competing demands for cash, including school fees, working capital and agricultural investment.
However, increased access to unsecured credit also carries repayment obligations, particularly for borrowers taking on large loans without a corresponding increase in income.
The campaign includes an insurance component aimed at protecting borrowers and their assets against specified risks.
Dogo Singh, Insurance Manager at Stanbic Bank Uganda, said insurance should be considered alongside borrowing, particularly when customers take on new financial commitments.
“A loan can help you acquire an asset, invest in a business, or achieve an important personal goal, but insurance helps ensure that those achievements are protected,” Singh said.
Stanbic Bank Uganda is marking 35 years of operations in the country. The bank said its latest lending initiative forms part of its broader focus on digital banking, financial inclusion and support for businesses and households.
