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Total Interest
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Total Payment
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This calculator provides estimates only. Actual loan terms may vary based on credit history, additional fees, and lender policies.
Frequently Asked Questions
What is the typical interest rate for personal loans in Uganda?
Personal loan interest rates from commercial banks in Uganda typically range from 18% to 25% per annum. Microfinance institutions and SACCOs may charge between 20% and 36% per annum. Mobile money lenders tend to charge higher rates.
What is the difference between reducing balance and flat rate interest?
With reducing balance (used by most Ugandan banks), interest is calculated on the outstanding loan balance each month, so you pay less interest as the loan reduces. With flat rate, interest is always calculated on the original loan amount, making it more expensive. This calculator uses the reducing balance method.
What is the maximum loan tenure for bank loans in Uganda?
Most Ugandan commercial banks offer personal loan tenures of up to 5 years (60 months). Home loans (mortgages) can go up to 20–25 years. SACCOs and microfinance institutions typically offer shorter tenures of 6–36 months.