Platinum Credit offers everything from personal loans to rapid, no-collateral loans branded as “MobiLoans.” If you’re looking for low-interest and collateral-free loans within 24 hours, we recommend the Mobi-Loan from Platinum Credit.
Platinum Credit Uganda Limited has provided lending services in Uganda for many years. The company was established in 2002 and is a Microfinance Company registered in Uganda under the Company Act and governed by the Uganda Microfinance Regulation Authority (UMRA).
Their selection of products includes everything from personal loans to rapid, no-collateral loans branded as “MobiLoans.” We recommend the Mobi-Loan from Platinum Credit as an alternative if you’re looking for low-interest and collateral-free loans within 24 hours.
Existing customers can receive immediate mobile loans through mobile money through their MobileLoan product to cover emergency financial demands up to a limit of 50 million shillings.
What are mobi loans?
The mobi loan is a short-term service that assists consumers in filling a brief financial gap for unexpected crises.
This solution is specifically designed to meet the needs of customers who require quick cash via their mobile devices.
Types of mobi loans offered by Platinum credit Uganda Limited
Civil servant loans
All civil servants are eligible for emergency loans, even if they already have a bank loan. Included are those working for local governments, municipal councils, ministries, the police, and prisons. Legal institutions include courts, public universities, and referral hospitals.
All Ugandan civil officials who are employed and receiving pay are eligible for this loan.
- Loan Amount UGX 100,000 – 30M
- Term 3 – 96 Months
Requirements
- A recent passport photo.
- Appointment letter.
- Valid Employment ID.
- National ID.
- Mobile Money Registered Phone number.
- Salary Account Number
- A letter of commitment from the employer.
- Add a letter of introduction from the immediate supervisor for teachers, police officers, and prison guards.
Logbook Finance loans
The goal of their Logbook Finance loan is to issue cash against the logbook of their customer’s vehicle. The only people who can use this option are those who have a logbook for a car that is registered in their names.
With a maximum processing time of 24 hours, the unique feature of this Logbook Finance product is that it allows the customer to keep and use their car.
Anyone who has a reliable source of income and a vehicle whose logbook is registered in their name is eligible to get this loan.
- Loan Amount UGX 3M – 50M
- Term 3 – 18 Months
Requirements
- 2 passport photos
- Last six months’ worth of personal bank statements.
- Execution of chattel mortgage forms.
- Payslips from the last three months if you are employed.
- A duplicate of your job ID or contract. Original journal with your names on it (Customer)
- National I.D / Passport / Driving Permit
- Most recent utility bill in the customer’s name as evidence of residency.
- Their team will search at URA for ownership, encumbrances and tax liabilities Valuation of the vehicle using professionals
- Put a caveat on the Logbook in favor of Platinum Credit through URA.
Personal loans
Employees of private sector businesses like banks, telecom companies, beverage companies, MFIs, and non-governmental organizations are eligible to apply for unsecured personal loans from these lenders.
Employees must have a job offer in hand and be prepared to deliver checks from their salary account.
- Loan Amount UGX 100,000 – 30M
- Term 1 – 36 Months
Requirements
- 3 Latest pay slips
- National I.D
- Employment ID
- Passport Photo
- Recent ATM Mini statement of salary account
- Guarantors
- Appointment Letter and Confirmation Letter
- Current three Months Bank Statement
Business loans
Their business loan is a small- and medium-sized business (SME) financing arrangement that is backed by property, a land title, or a logbook. Cash is distributed within 24 hours, with a 48-month cap of 150 million Ugandan shillings.
Any legal business that can generate income on a daily/weekly/monthly basis.
- Loan Amount UGX 100,000 – 150M
- Term 1 – 36 Months
Requirements
- Original Copy of National ID
- Current Passport Photo
- Legal Business
- Guarantors and their National IDs
Motor Import Finance loans
The loan product is intended for people who are employed or in business and want to buy a new car. The bthe enefit of Motor Import Finance (MIF) is that the client gets a brand-new car with the features they want, such as the model, form, and fuel efficiency.
To be eligible, one must be an adult between 24 -60 years of age as a first-time borrower. They should also have affordability to repay the loan advanced including interest and any fees.
Requirements
- Copy of original National ID or Passport – Mandatory.
- TIN / TIN Certificate – Mandatory at loan completion.
- Current passport photo – Mandatory
- 6 months Bank statement – is a must
- Personal post-dated cheques / Current account.
- CRB – Upon request.
- A completed probationary term, or in the case of pay earners, a legitimate employment contract
For companies
- Certificate of incorporation
- Certified MEMATS
- Authority to borrow- Certified
- TIN/ URA TIN Certificate
- Bank mandate (if the director is using company statements to borrow
- Loan Amount UGX 3M – 50M
- Term 1 – 18 Months
Using the USSD platform connected to Mobile Money and the code *249#, Platinum Credit started an electronic loan application process.
This is done to make sure that our customers have the money they need to cover an emergency within 60 seconds.
Conclusion
Platinum Credit’s offices are located on Prime Plaza Jinja Road. You may visit them for additional information or contact them on (+256) 200 300500. Additionally, an email can be sent to info@platinumcredit.co.ug
