Question 1

Group Loans: Who is eligible for a group loan?

Accepted Answer

Members of a registered or self-formed group of at least five adults who live or trade in the same area, have an active income-generating activity and are willing to guarantee one another. Each member must present a valid national ID and a passport photo, and deposit collateral savings of 20% of the loan amount.

Question 2

Group Loans: What is the 20% collateral savings requirement?

Accepted Answer

Before disbursement each member saves 20% of their loan amount with NAAV as collateral savings. For example, a UGX 1,000,000 loan requires UGX 200,000 in savings. The savings are held for the life of the loan and refunded once the loan is fully repaid, or applied to the balance in case of default.

Question 3

Group Loans: What are the repayment terms?

Accepted Answer

Each member repays their own portion in weekly instalments over a period of 4 to 24 weeks, with interest of 1.5% flat per week. The group guarantee and the 20% collateral savings stand in place of physical collateral, so members are jointly responsible if one member falls behind.

Question 4

Group Loans: How long does processing take?

Accepted Answer

After the group meeting and verification of members, most group loans are approved and disbursed within 2 to 3 working days.

Question 5

Group Loans: How do we apply?

Accepted Answer

Submit a loan application on our contact page selecting Group Loan, or visit the head office at Mutaasa City Room EU-137, Near Stanbic Bank Kasangati Branch, Kampala–Gayaza Road. A loan officer will then attend one of your group meetings to complete the assessment.

Question 6

Individual Loans: Who is eligible for an individual loan?

Accepted Answer

Business owners and self-employed clients with a business that has been running for at least six months, a valid national ID, proof of business location and acceptable security such as household items, land or a vehicle log book depending on the amount.

Question 7

Individual Loans: What are the repayment terms?

Accepted Answer

Tenures run from 1 to 6 months with instalments matched to your business cash flow. Early repayment is allowed and interest is charged on the reducing balance for the period used.

Question 8

Individual Loans: How long does processing take?

Accepted Answer

A business assessment is carried out at your premises, usually within 24 hours of your application. Once security documents are complete, disbursement typically follows within 2 to 4 working days.

Question 9

Individual Loans: How do I apply?

Accepted Answer

Complete the loan application form on the contact page selecting Individual Loan, or call +256 772 141283 / +256 703 068737 to book a visit from a loan officer.

Question 10

Salary Loans: Who is eligible for a salary loan?

Accepted Answer

Employees in confirmed employment with a consistent monthly salary paid through a bank account. You will need a letter from your employer, recent pay slips, bank statements and a valid national ID.

Question 11

Salary Loans: What are the repayment terms?

Accepted Answer

Repayment is over a maximum of 6 months by monthly check-off, and the monthly deduction may not exceed 60% of your net pay. A standing order must be signed before disbursement.

Question 12

Salary Loans: How long does processing take?

Accepted Answer

Once employer confirmation and the signed standing order are received, salary loans are usually processed within 1 to 2 working days.

Question 13

Salary Loans: How do I apply?

Accepted Answer

Apply on the contact page selecting Salary Loan and enter your monthly net pay so the system can confirm the instalment stays within the 60% cap. Bring your pay slips and employer letter to the office to finalise the standing order.

Question 14

General Questions: What documents should I bring?

Accepted Answer

A valid national ID, a recent passport photo, proof of residence or business location, and — depending on the product — group registration details, security documents or pay slips.

Question 15

General Questions: Can I repay my loan early?

Accepted Answer

Yes. You can clear your balance at any time and interest is charged only for the period the funds were used.

Question 16

General Questions: What happens after I submit an application online?

Accepted Answer

Your application reaches our team immediately and a loan officer contacts you on the phone number you provide, usually the same working day.

Question 17

General Questions: Is my information kept confidential?

Accepted Answer

Yes. Client information is used only for loan assessment and servicing, and is handled by authorised staff in line with our professionalism and integrity values.

Frequently Asked Questions

Group Loans

Individual Loans

Salary Loans

General Questions

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