#yakocares
Boda Loans
PURPOSE.
For purchase of new boda.
Target group: Boda Riders attached to stages.
Facility type: Short term loan.
APPLY FOR A BODA LOAN
Please fill the form and we shall get back to you in less than 24 hours. Thank you.
Limit. Max 90% of the cost of the Boda within our single borrower exposure limit.
Tenor. Max 24 months.
Disbursement. By way of credit/remittance to the account of the Dealer.
Repayment. Weekly Instalments.
Primary security. Caveat on the Boda to be noted.
Collateral Security. As suggested by the appraising officer.
Documents Required:
- National ID/ Passport.
- Driving Permit.
- 2 Recent Passport size photographs.
- Copy of Invoice.
- Details of Down payment/subsequent payments if any.
- ID from Boda Boda Association/Stage Card.
- Two Guarantors (One another Boda Rider and other from Family).
- Demand Promissory Note.
- Loan Agreement.
- Letter of Guarantee.
Processing fee. UGX 50,000.
Late Payment. A penalty of UGX 5,000 of defaulted amount per month or its part.
Tracking Device. GPS enabled tracking device to fitted to the Boda.
Insurance. Comprehensive Insurance to be done.
