Whether you’re facing unexpected expenses, need to pay school fees, or want to grab a timely opportunity, Equity Bank Uganda’s salary loans are designed to support your financial goals quickly and conveniently.
Here’s a complete guide on how to apply, what you’ll need, and how to make the most of the loan features.
What Is a Salary Loan from Equity Bank Uganda?
A salary loan is a short-term credit facility available to salaried individuals, offering access to quick cash for urgent needs. Equity Bank Uganda’s salary loans are accessible through its mobile app, USSD code (*247#), or by visiting any branch. Borrowers can access up to UGX 20 million, repayable over a period of up to 12 months.
Step-by-Step Guide to Applying for a Salary Loan
1. Confirm Your Eligibility
To qualify for a salary loan, you must:
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Be a salaried employee with consistent monthly income
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Have an active Equity Bank account for at least 6 months
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Provide proof of employment (appointment letter, confirmation letter, or contract)
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Present valid identification (National ID, Passport, etc.)
2. Choose Your Application Method
You can apply for a salary loan using any of the following convenient options:
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Equity Mobile App: Download from Google Play or App Store, log in, and apply directly. You can also check your loan limit and repayment terms in-app.
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*USSD (247#): Dial and follow prompts to apply without internet access.
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Branch Visit: Visit your nearest Equity Bank Uganda branch for in-person assistance from staff.
3. Submit Required Documents
Although the bank emphasizes a “zero paperwork” process for digital loans, in some cases, the following may be requested:
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Valid identification (e.g., National ID or Passport)
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Proof of employment
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Last 3 months’ bank statements
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Employer’s letter authorizing loan recovery (especially if you have other outstanding loans)
4. Get Approved and Receive Funds
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Online or USSD: After applying, your loan limit is assessed based on your account activity and credit score. Approval may take just a few hours.
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In-Branch: Applications are reviewed by a relationship officer. Approval time depends on documentation but is typically quick.
Once approved, the loan is disbursed directly into your Equity Bank account.
5. Repay the Loan
Repayment is made monthly over a term of up to 12 months. Use the Equity Mobile App to track your balance, view repayment schedules, and avoid missed payments or penalties. Responsible repayment also improves your credit score and future borrowing limit.
Key Features of Equity Bank Salary Loans
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Fast Approval: Often within hours, especially through digital channels
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Minimal Paperwork: Especially for digital applications
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Loan Limits: Up to UGX 20 million
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Flexible Terms: Up to 12 months for repayment
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Convenient Access: Apply online, via *247#, or at a branch
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No Collateral Required: Based on your salary and banking history
Tips for a Successful Application
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Maintain regular salary deposits to your Equity Bank account
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Keep a good credit record to increase your loan limit
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Have your employment and ID documents ready
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Use the mobile app or USSD for the fastest processing
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Contact customer care for help at 0312 327 000 or info@equitybank.co.ug
Why Choose Equity Bank Uganda?
Equity Bank Uganda is committed to providing innovative financial solutions that empower salaried customers.
Their salary loans combine speed, convenience, and flexibility, supported by cutting-edge digital tools and a customer-focused approach. Partnerships like the Mastercard Foundation further demonstrate their dedication to financial inclusion and reliable service.
