Dfcu Bank Launches 16.9% Home Loans with 60-Day Holiday

In Short

dfcu Bank has announced a new home-loan offer for customers in Uganda.

The offer sets interest at 16.9% per year and includes a 60-day repayment holiday.

What Happened

dfcu Bank said it has introduced a Home Loans offer priced at 16.9% interest per annum. The bank said the offer is for customers who want to buy, build, or refinance a home.

The bank said the offer includes financing of up to 85% of the open market value of a residential property. It also includes a 60-day repayment holiday, which is a pause before repayments start.

dfcu Bank said the package also includes financing of the insurance premium. The bank also said it will confirm qualifying home loans within 48 hours, subject to terms and conditions.

Why It Matters

dfcu Bank positioned the offer around the added costs that come with home ownership beyond the purchase price. It highlighted expenses such as valuation, insurance, and other transaction costs, and the need to fit mortgage repayments alongside other household commitments.

By bundling higher financing coverage and an initial repayment pause, the offer is aimed at giving borrowers more flexibility when moving into home ownership, subject to the bank’s terms and conditions.