Furaha

Furaha’s school fee loan is targeting the “missing middle” customer segment in Uganda. The loan product is provided to parents to help them pay school fees for their children at the beginning of school term and spread repayments throughout the term so that children learn uninterrupted. At Furaha, we are more than a financial solution – we are your partner on the journey to a brighter tomorrow. Applying for a loan can be challenging, as each bank has its own specific requirements and approval procedures. Furthermore, setting up an account typically requires thorough research, extensive paperwork, and verification, which can be both tedious and time-consuming. Furaha streamlines the entire process by providing a smooth, digital, and stress-free solution to your financial requirements. Furaha partners with licensed commercial banks in Uganda to select the best bank for you and facilitate direct lending. Funds are promptly disbursed to schools, ensuring you receive the necessary financial support swiftly and efficiently. Loan Terms: Minimum Loan Tenor of 90 days Maximum Loan Tenor of 90 days Minimum Loan Amount of UGX 200K Maximum Loan Amount of UGX 2M Loan processing fee of 3% charged on disbursed amount Interest of 5% per month charged on the booked loan amount Maximum annual percentage rate (APR) of seventy four percent. Late repayment penalty of 2.5% on the overdue amount Weekly or Monthly instalment options Loan Term Example: Loan Amount of UGX 1M, payable over 90 days Total fees of 3% of UGX 1M and interest 5% per month for 3 months is UGX 184,500 Total Amount Payable will be UGX 1,184,500 (Principal, Fees and Interest) 3-equal monthly instalment payable amount will be UGX 394,833 Join our educational community. Become a part of a community that values education and supports each other's aspirations. When you choose Furaha school fees financing, you're not just getting a loan; you're gaining a partner in your child's education journey. Let's build brighter futures together!