L-R: Robert Wanok, the Head of Personal and Business Banking, Bageine Musoke, the Head Personal Banking, Diana Akebo, Product Manager and Ronald Kasasa, the Head of Business Banking at dfcu bank
dfcu Bank has launched 12-week campaign inspiring customers to ‘Reach for More’ by taking advantage of its special financial packages to achieve their aspirations/needs conveniently during the new year.
Under the campaign, the Bank is providing collateral free loans (unsecured loans) of up to UGX 250 million to customers who take out personal loans, and an option of a repayment holiday of up to 75 days. The Repayment Holiday option will allow customers to take a break from scheduled loan repayments during the campaign period.
The personal loan offer targets the salaried and professionals earning a regular income. Customers who transfer their existing personal loans from elsewhere to dfcu Bank will be charged no arrangement fees. In addition, loan arrangement fees have been discounted to 1% for individual customers who take up new loans and 0.5% for those who top up their existing facilities at dfcu Bank between now and 15th April 2023.
With the Back-to-school season now well under way, the Bank has also unveiled a special package to support schools as they prepare to receive students for the new academic year. The offer dubbed “the school bridging overdraft’ allows school owners to access unsecured short-term facilities of up to 30% of their expected school fees collections, to take care of urgent working capital needs.
In addition, parents who pay their schools fees through dfcu Bank during this period will automatically enter a draw and have a chance to win up to UGX 500,000 to help cover outstanding back- to- school requirements.
Robert Wanok, Head of Personal and Business Banking at dfcu Bank, said the campaign has been launched to accelerate the dreams and aspirations of our customers during the new year. “The new year always represents new beginnings for most people. Renewed hope, dreams, ambitions, targets, that we want to see come to life. With “Reach for More” campaign, we are encouraging our customers not to lose sight of these dreams but instead partner with us to see them come true. We are staying true to our brand promise of ‘Making More Possible’ for all our customers,” he said.
“The Bank is also offering mobiloans of up to UGX 2,000,000/ = accessible via our online banking platforms, in less than 5 minutes. For parents, the mobiloans are a convenient way of sorting out urgent back- to- school requirements. Parents who pay school fees at any dfcu Branch, dfcu Agent or via dfcu internet banking will automatically enter a draw and stand a chance to win a cash back of up to UGX 500,000,” Wanok added.
Commenting on the campaign during the launch, Ronald Kasasa, the Head of Business Banking, reiterated dfcu’s support towards schools during this back-to-school period. “The beginning-of-term can be a tough period to run an institution within the education sector. Teachers’ salaries, food supplies, utility bills, scholastic materials, and any other day -to day essentials can put a strain on schools. Our school bridging overdraft allows school owners to access unsecured short-term facilities of up to 30% of their expected school fees collections, to take care of urgent working capital needs. The overdraft is payable in three months, and this gives an opportunity to the school to repay when the cashflows from tuition collections are steady and stable,” he said.
Asked about the cost of loans during this period, Wanok said the loans come with competitive interest rates, same day response times and other added advantages.
He said although the cost of capital to banks is still high, the bank’s interest rates are favourable.
“..The rates right now range from 17.5% up to 21% and this is mainly focused on salaried customers. We encourage our customers to speak to our bankers and revisit our offer on Pinnacle banking (for customers who earn big). We have a reduced price for all those customers,” Wanok said, adding that as the cost of doing business comes down, interest rates will also eventually come down.
For details, call 0800 222 000 or WhatsApp 0776 760 760 or visit your nearest branch.