The Independent Uganda: You get the Truth we Pay the Price
Kampala, Uganda | THE INDEPENDENT | Ecobank Uganda has launched its Edusave loan contribution campaign as it seeks to ease the school fees burden faced by many parents across the country during the ongoing back-to-school season. Unveiled on Feb.09, the campaign’s goal is to provide parents and families with affordable, flexible, and convenient loan options to help them finance their children’s educational needs such as school fees, uniforms and books among others.
Existing Ecobank Customers qualify for or can top up their current loans to a tune of Shs280million while non-Ecobank customers can simply transfer their loans to Ecobank and get 1% of the loan amount deducted and credited to their Edusave policy.
The unsecured loans under this arrangement are repayable over a period of 60 months and come with a 50% discount on arrangement fees – giving parents access to unprecedented disposable income to cater for other school related expenses, according to Timothy Kiyimba, the bank’s head of consumer banking.
Under the same campaign, Ecobank customers can get more than a loan with the Ecobank Personal Loan and start an Edusave policy for their children’s future with access up to US$75,000 (Shs280million), a 50% discount on arrangement fees, 1% paid to an Edusave policy, up to 60 months loan tenor, automatic qualification for a salary advance of up to 50% net pay for up to 30 days, and same-day loan processing for new loans and buy-offs.
The campaign began on January 20 and will run through March 31, 2023.
