By CHIMPREPORTS
The dfcu Bank in Uganda has launched the Ggwa Mu Bintu campaign to support students, parents, guardians, and school owners as the new school term and academic year commence. Bryan Katamba, the Sector Head of Education and Health at dfcu Bank, provided insights into the campaign, focusing on efficient school fee payment platforms and loans for school owners to meet operational costs.
For school owners, dfcu Bank offers the dfcu School Bridge Loan, an unsecured short-term loan providing a boost of up to 500 million Ugandan Shillings to help cover working capital needs at the beginning of the academic year. Katamba emphasized the affordability of the loan, with reasonable interest rates.
Regarding eligibility, the loan is exclusively available to schools that have an account with dfcu Bank. School owners who don’t currently have an account with dfcu Bank are encouraged to contact the bank for suitable solutions.
Crucially, dfcu Bank does not require security for the School Bridge Loan. The loan’s approval is linked to the cash flow of the recipient schools. However, for schools with more significant financing needs and for a more extended period, dfcu Bank is open to exploring secured loan facilities.
To streamline the loan application process, dfcu Bank has expedited the time it takes for schools to access financing. Once all paperwork is completed, the funds will be available within 48 hours.
Additionally, dfcu Bank has introduced the dfcu Mobi Loan for parents, allowing them instant access to loans of up to 2 million Ugandan Shillings through the dfcu QuickBanking App. The Mobi Loan ensures quick disbursal, with customers receiving the funds within 5 minutes.
Parents can also conveniently pay their children’s school fees using dfcu Bank’s channels such as SchoolPay or QuickBanking platforms. As an incentive, those who use these channels stand a chance to win a cashback of 500,000 Ugandan Shillings. The Ggwa Mu Bintu campaign reflects dfcu Bank’s commitment to supporting education, fostering financial inclusion, and contributing to the growth of various sectors in Uganda.
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