Equity Bank Uganda offers a convenient and reliable salary loan facility to help salaried individuals manage urgent expenses, such as school fees, medical bills, or unexpected financial needs.
Designed with speed and accessibility in mind, Equity Bank’s salary loans are available through multiple channels including the Equity Mobile App, USSD code (*247#), or by visiting any Equity Bank Uganda branch. Borrowers can access up to UGX 20 million, repayable over a period of up to 12 months.
What Is a Salary Loan from Equity Bank Uganda?
A salary loan is a short-term credit facility tailored for salaried customers, offering quick access to cash without the need for collateral. Equity Bank Uganda’s salary loan service is part of its commitment to empowering clients through convenient and technology-driven financial products.
1. Confirm Your Eligibility
To qualify for the loan, applicants must:
- Be a salaried employee with a consistent monthly income
- Have an active Equity Bank account for at least 6 months
- Provide proof of employment (e.g., appointment letter, confirmation letter, or employment contract)
- Present valid identification (e.g., National ID or Passport)
2. Choose Your Preferred Application Method
Applicants can apply via:
- Equity Mobile App – Available on Google Play and the App Store. Log in to apply, check your loan limit, and view repayment options.
- *USSD Code (247#) – A simple, internet-free way to apply via mobile phone.
- In-Branch Application – Visit your nearest Equity Bank branch for personal assistance.
3. Submit the Required Documents
While digital applications require minimal paperwork, the bank may request:
- Valid identification
- Proof of employment
- Last 3 months’ bank statements
- Employer’s letter authorizing loan recovery (especially if the applicant has existing loans)
4. Get Approved and Receive Your Funds
- Digital Applications – Loan limits and approval are based on account history and credit score. Approval can take just a few hours.
- Branch Applications – Handled by a relationship officer; approval is usually swift with complete documentation.
Once approved, funds are disbursed directly into the applicant’s Equity Bank account.
5. Repay the Loan
Repayment is made monthly over a period of up to 12 months. Borrowers can use the Equity Mobile App to monitor their loan balance, repayment schedule, and avoid penalties. Timely repayment also enhances credit scores and increases future loan eligibility.
Key Features of Equity Bank Salary Loans
- Fast Approval – Often within hours for digital applications
- Minimal Paperwork – Especially for mobile and USSD channels
- Loan Limit – Up to UGX 20 million
- Flexible Repayment – Up to 12 months
- Convenient Access – Apply via mobile app, USSD, or in-person
- No Collateral Required – Loans are based on salary and banking history
Tips for a Successful Application
- Ensure regular salary deposits into your Equity Bank account
- Maintain a good credit record to qualify for higher loan amounts
- Prepare necessary employment and ID documents
- Use digital platforms for faster processing
- For assistance, contact Equity Bank Uganda at 0312 327 000 or email info@equitybank.co.ug
Why Choose Equity Bank Uganda?
Equity Bank Uganda continues to position itself as a leader in customer-focused, technology-driven financial services. Its salary loan offering reflects the bank’s dedication to empowering individuals through affordable credit, financial inclusion, and digital innovation.
Strategic partnerships, such as with the Mastercard Foundation, further underscore Equity Bank’s commitment to providing accessible and reliable banking solutions for all Ugandans.