LIST: Banks with the lowest, highest lending rates in Uganda 2020

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.

1. Citi Bank                               16%
2. Stanbic                                 16%
3. DTB                                        16%
4. Absa                                      17%
5. Housing Finance               17.3%
6. Bank of India                      18%
7. Standard chartered bank 18.3%
8. Eco Bank                              18.5%
9. UBA                                       19%
10. Baroda                                  19%
11. Orient                                   19.6%
12. Centenary                           20%
13. Cairo                                      20%
14. DFCU                                     20%
15. Equity                                   20.5%
16. Bank of Africa    Set featured image                21%
17. Finance Trust                     21%
18. KCB                                        21%
19. GTB                                        21%
20. ABC Bank                             21.5%