Pride Bank Limited, in partnership with Bakaima real estate dealers, has officially launched the Pride Mortgage Loan, a structured and flexible financing solution designed to expand access to property ownership, construction financing and equity release for Ugandans.
The product is introduced to streamline property acquisition and development.
The Pride Mortgage Loan is structured to respond to the growing demand for accessible mortgage solutions in Uganda’s evolving real estate sector.
It is designed to support aspirational homeowners, commercial property investors, landowners seeking phased construction financing and customers looking to unlock value from existing property.
The facility offers loan amounts ranging from UGX 30 million to UGX 1 billion, enabling customers across different income segments to access appropriate financing for residential or commercial property.
Under the structure of the loan, customers contribute 25% of the total property value, while Pride Bank finances the remaining 75%. This model ensures shared commitment and responsible financing while lowering the entry barrier to property ownership.
The Manager Distribution and Channels, Yusuf Kalumba Kasule, noted that the product has been carefully designed to balance accessibility with prudent risk management and long-term value creation.
“This facility provides scale, flexibility, and discipline. Our tiered reducing-balance interest structure, combined with milestone-based disbursement, ensures that customers can grow their property investments responsibly while maintaining financial stability,” Kalumba noted.
Under this arrangement, customers can acquire titled land from BAKAIMA with a 25% deposit, translating to as low as UGX 2.3 million, and repay through flexible plans of approximately UGX 7,000 per day over a period of up to three years.
A distinguishing feature of the Pride Mortgage Loan is its phased disbursement model.
Funds are released progressively in line with verified construction milestones or acquisition stages, ensuring disciplined project implementation and improved financial management throughout the development cycle.
The product also offers competitive tiered interest rates on a reducing balance basis, structured as follows: 28% for loans between UGX 30 million and UGX 100 million; 26% for loans above UGX 100 million up to UGX 200 million; and 23.5% for loans above UGX 200 million.
To further enhance flexibility, the facility provides grace periods of up to 12 months for commercial mortgages and up to 60 days for residential mortgages, with interest payable during the residential grace period.
This allows customers to stabilise projects or cash flows before full repayment begins. The property being purchased or developed serves as collateral, eliminating the need for guarantors and simplifying access to financing for qualifying applicants.
Speaking at the launch, Owoyesigire Medard, General Manager, Affordable Housing at BAKAIMA, emphasised the significance of the partnership:
“Today, we are not just launching a partnership; we are unlocking a new pathway to property ownership and real estate investment in Uganda. At Bakaima, we believe that opportunity must be organised, and growth must be inclusive. But opportunity without financing remains out of reach, and financing without structure carries risk.
Through this partnership with Pride Bank, we are bringing both together.”