Civil Servants Loan
Civil Servants Loan (CSL) is a scheme that offers credit facilities to public servants up to a maximum of 10 times their net salary for a period of up to 3 years to enable them meet personal financial needs in a timely manner against their salaries.
Target Audience
- Ministries
- Government Commissions e.g Electoral Commn, Uganda Aids Commn, Human Rights Commn, Health Care Service Commn, Public Service Commn
- Offices: Office of the Auditor General, Judiciary office of Judicature, DPPs office
- Authorities-NEMA, NARO, National Planning Authority, NMS
- Government Schools
- Government Hospitals
- Districts
- Municipal Councils
Features
- Deduction at Source (Ministry of Public Service/Min of Finance) Bank Deduction Code 361
- Customer must be a Civil Servant
- Customer must open up an account with Orient Bank
- Customer should at least have been employed in Public Service for 3 months
- Maximum monthly loan obligation is 50% of net salary
- Interest Rate: PLR + 2
- Processing fees: 3% of facility amount (payable upfront)
- Insurance fees: 2% of loan amount
- Maximum 36months
- 21-57Years (3 years to Gov't retirement age)
Requirements
- Duly completed Civil Servant Loan application form
- Last three months pay slip or confirmed salary letter
- Receipt [and verification] of letter of undertaking from Government department/Ministry/Local Government confirming deduction of monthly loan installment at source. The letter will also further commit that in the event of the separation of the customer from the employment of the company/organization before the liquidation of the facility, his/her terminal benefits will be paid through the same account.
- A letter of reference from a family member
