I&M Bank Offers 60-Day Loan Repayment Holiday to Retail Customers

I&M Bank Uganda has launched a loan repayment holiday campaign for its retail loan customers, providing a 60-day repayment break from December 1, 2024, to February 28, 2025. The campaign aims to offer relief to customers during the festive Christmas season and the financially challenging back-to-school period.

The announcement was made at the bank’s headquarters, where top executives, including CEO Robin Bairstow, Executive Director and Chief Operations Officer Sam Ntulume, and Chief Business Officer Gibson Nangono, were in attendance.

During the campaign period, customers will enjoy a repayment holiday of up to 60 days on loans before their first installment is recovered. This initiative is designed to provide customers with much-needed relief and flexibility during the festive season and the back-to-school period.

“I&M Bank is committed to supporting its customers during these challenging times by offering a loan repayment holiday,” said Robin Bairstow, CEO of I&M Bank. “This initiative will provide our customers with the financial relief they need to navigate the festive season and the back-to-school period with greater ease.”

The campaign is open to both new and existing customers, who can take out loans within the debt service ratio, with existing interest rates applied. I&M Bank Chief Business Officer Gibson Nangono noted that the offer is available to clients who may need top-ups, new loans, or have existing loans.

“At the heart of everything we do, our customers are always our top priority,” said Nangono. “We are committed to being the bank that supports you, helps you grow, and is always on your side.”

Annette Nakiyaga, Head of Marketing and Corporate Communications at I&M Bank, noted that the initiative will enable customers to stay afloat with some liquidity to cater to the demands of the festive season, as well as pay school fees and meet various other obligations.

“We believe this campaign will enable our clients to achieve their objectives in a relaxed, stress-free, and planned manner,” said Nakiyaga. “The loan repayment holiday offers financial relief and allows them to better manage their finances during the festive season and beyond.”

To take advantage of the initiative, customers can visit any of the I&M Bank branches. The launch event was entertained by popular Afro Soul and R&B recording artist and performer Kenneth Mugabi, who performed many of his best tunes.