The Private Sector Secured (PS) Loan is available to confirmed salary earners working in reputable private organizations within Uganda. Customers can apply for this loan using their motor vehicle logbook as the security. The motor vehicle logbook must be registered in the exact name of the loan applicant.
Platinum Credit does not park vehicles for clients who take a Private Sector Secured Loan (PS) Loan. The customer continues driving their car upon receipt of the loan and a caveat through URA is placed on the Logbook.
The maximum loan amount issued under the Private Sector Secured (PS) Loan is UGX 50 million while the minimum is UGX 3 million. The loan repayment term period is between 3 and 24 months.
Requirements
- Verifiable Income
- Motor Vehicle Logbook in the applicant’s name.
- URA TIN Number / TIN Certificate
- Current Six (6) months Bank Statement or Mobile Money Statement
- Three (3) most recent pay slips or Valid Work I.D or Appointment Letter or Employment Contract
- Coloured Passport Photo
- Valid National ID / Passport
- Car Valuation and URA Vehicle Logbook Search
- Comprehensive Insurance of the vehicle covering the loan term
- No cheques required