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BARODA Traders’ Loan (BTL)


Type of Facility: Overdraft / Loan
Eligibility:
  • All persons engaged in trade of any commodity / goods not prohibited by law or not opposed to public interest. Individuals, Firms, Pvt. Ltd. Co; Proprietorship and partnership concerns engaged in trade, Registered Co-op. Societies are also eligible.
  • The credit facility may be considered for Traders who are established in their line of business preferably for 2 years.
  • Trading units established by our existing customers with satisfactory dealings, even if these are established for less than 2 years but more than 1 year..
Purpose:
  • For working capital requirements.
  • Need based requirement of funds for development of shop by way of loan up to a maximum of 25% of the limit sanctioned for working capital.
Amount of Loan:
  • Minimum  : Ugx 10,000,000/- (Ten Million)
  • Maximum : Ugx 200,000,000/- (Two Hundred Million)
Assessment of Working Capital:
  • Advance value of collateral security or
  • 20% of the projected annual sales subject to verification of proof of sales i.e. sales tax returns of previous year etc., Which ever is less.
Margin:
  • 10% on Bank’s own Fixed Deposit Receipt (FDR).
  • 40% on immovable property as per recent valuation report
Interest:*
  • PLR + 2% with monthly interest rates.
Repayment:
  • Overdraft: 12 months subject to annual review.
    Loan       : Maximum 48 months (depending on repayment capacity) subject to annual review.
* Interest rate is subject to change from time to time. View latest Interest Rate
** For further details, contact any of our branches in Uganda