How dfcu Bank is encouraging Home Ownership with Home Loans and Personal Secured Loans.

Uganda has the third-highest population growth rate in Africa and a significantly high rural to urban migration rate.

These trends underline the need for more housing units. dfcu Bank recently launched a campaign to encourage Home Ownership. 

Miranda Bageine Musoke, dfcu Bank’s Head of Personal Banking explains more about the campaign.

Miranda Bageine Musoke (1)
Miranda Bageine Musoke

Please tell us about this new campaign making Home Ownership possible.

dfcu Bank launched a Home Loans campaign- aimed at driving up Home Ownership among its customer base in Uganda and the Diaspora, through provision of affordable financing solutions. Through this campaign, we are giving existing and potential customers the option to purchase Homes at an interest rate of 16% per annum for Uganda shilling denominated loans and 8% per annum for US Dollar loans. Customers can also access 60% of the eligible loan amount when purchasing Homes from dfcu’s known real estate development partners. 

This campaign also makes the purchase of land possible. Is this still at the same interest rate? Please share more information.

Yes. In addition to home loans, this campaign also makes it possible to purchase land. For purchase of land, the Bank is offering Personal Secured Loans at a 16.5% interest rate. 

Better yet, the Bank will not charge fees for loan buy outs and will also provide customers with a 30-day grace period for a month of their choice.

So why this campaign? What does dfcu Bank aim to achieve?

First of all, I am sure you know Uganda has the third-highest population growth rate in Africa and a significantly high rural to urban migration rate. These trends underline the need for more housing units.

As dfcu Bank, we always aim to Make More Possible. This campaign seeks to empower individuals and businesses who are keen on making Home Ownership a reality. Through this campaign, we have created options for home ownership that include access to properties purchased from our Estate Developer partners, access to Home Loans funding to purchase properties of their choice or access to a Secured Personal Loan to purchase land. 

When does it end?

The campaign will run until mid-January of next year, 2023.


Briefly explain what the “…grace period…” means, for this particular campaign.

Upon getting the dfcu Home Loan, customers will be given the opportunity to pick one month (30 days) of their choice, during which they will not pay the required instalment on their Home Loan. We believe this time given to them will enable them to 

How much can I borrow to buy a home? 

This is determined by a number of factors that include; your current income and debt levels, your employment status, and your credit history in comparison to the collateral value. What dfcu can promise is that we will work with you to create the best package that will make you a homeowner without causing undue pressure on your finances. 

How much money do I need to put down?  

For purposes of Purchase, the Bank shall contribute up to 85% of the market Value of the house, with the balance being the customer’s contribution. 

For Construction, the Bank shall contribute up to 100% of the forced sale value of the property, the shortfall if any, will be the customer’s contribution.

What interest rates are being offered for the dfcu Home Loans?

We offer financing in both UGX and USD, at 16%  and 8% respectively.


How long does it take to get the funding for Home Purchases or Construction?

The expected time is between 10-14 working days.

What Types of Home Loans does dfcu Bank Offer?

As a holistic product, dfcu Home Loans has four sub products i.e House construction, House purchase, Refinance and Equity release. 


Does this offer extend to those Ugandans in the diaspora?

Oh yes it does. 

We have curated multi-currency offers that cater to payments made in Ugandan Shillings (UGX) and also those in United States Dollars (USD). We are cognizant of the fact that many customers who work in the diaspora are looking for suitable and affordable properties back home. With the dfcu Home Loans campaign, we are providing specific solutions, made to meet the needs of multiple customer bases.

Any final words?

Yes. I encourage Ugandans here and those in the diaspora to take advantage of these rates to purchase homes. Let me also add that customers buying homes from vendors with whom dfcu Bank has partnerships will receive 60% of the loan amount within 24 hours, provided they submit fully executed mortgage documents, an original copy of title to the bank and a bank purchase guarantee.

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