The ongoing exchange between businessman Hamis Kiggundu, and Uganda Bankers Association over calls to introduce pro-Uganda policies, have given an opportunity for Uganda to know the banks that charge low and high interest rates.
President Museveni and Bank of Uganda governor have called upon commercial banks to lower lending rates in light of being sensitive to the bad business environment in which most people and businesses exist in these covid19 pandemic days.
Whereas some banks have attempted to reduce their lending rates, some still charge exorbitant charges.
Below is the list of the banks charging lowest and highest, as revealed by Mr Wilbrod Humphrey Owor, the chairman of the Uganda Bankers Association in his missive addressing Mr Kiggundu’s calls for reforms in the commercial banking sector.
- Citi Bank 16%
- Stanbic 16%
- DTB 16%
- Absa 17%
- Housing Finance 17.3%
- Bank of India 18%
- Standard chartered bank 18.3%
- Eco Bank 18.5%
- UBA 19%
- Baroda 19%
- Orient 19.6%
- Centenary 20%
- Cairo 20%
- DFCU 20%
- Equity 20.5%
- Bank of Africa Set featured image 21%
- Finance Trust 21%
- KCB 21%
- GTB 21%
- ABC Bank 21.5%
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