Personal Banking
Personal Banking

Salary Loans

Salary Loan

Baroda Salary Loan (BSL)

Type of facility

Loan

Target Group

  • Employees of Government/Public Sector undertaking & educational institutions/ organizations funded by the government.
  • Government Pensioners and employees of corporate clients.

Eligibility

  • Individual operating satisfactory saving/current account with the bank.
  • Salary/Pension of applicant be received through the account with the bank at least for 6 months.
  • Government Pensioners and employees of corporate should have satisfactory conduct of account relationship with the bank.

Purpose

Loan can be availed for any personal needs such as medical treatment, investment, marriage, payment of school/college fees, repairs & maintenance/expansion or extension/ furnishing & modernization of existing house or any other unforeseen emergency, except for financial speculation of any type.

Limit

up to -10- times Net monthly salary whichever is less. Take home salary of applicant should not be less than 50% of total salary after the deduction of loan installments.

Repayment Period

36 months

Interest*

4% over PLR with monthly rests

* Interest rate is subject to change from time to time. View latest Interest Rate.
** For further details, contact any of our Branches in Uganda

Back to Top