FAQs

How do I apply for a Bayport loan?

Call any of our Bayport offices closest to you, apply online or send an email to sales@bayport.co.ug; one of our sales staff will advise you on the products available, your affordability and the best loan option for you.

Who is eligible for a Bayport loan?

Employees who work for approved Employers, this includes Government workers.

What is the maximum amount of money I can get?

The maximum cash you can get depends on your affordability — how much you can afford to pay every month. For Government employees, total monthly deductions cannot exceed 50% of Basic Pay, so this also determines one’s affordability.

How soon can I receive my loan after the loan application has been submitted?

Provided all required documentation has been submitted, and your employer has recommended you for the loan, the loan can be disbursed within 24 hours.

Can I take more money if my current loan is not yet paid off?

Yes, you can take more money – we call this a Replacement Loan. This is a loan that you can take if you are already a client with an existing loan. A Replacement loan is used to settle the existing loan, and provide additional funds for the client’s use. To qualify for a Replacement loan depends on:

Outstanding balance on the existing loan.
Any other loan obligations on your salary.

How do I pay back my loan?

Your monthly loan repayments are made through salary deductions effected by your Employer, and this money is remitted to Bayport. For Government employees, Bayport has been allocated a deduction code (296) for this purpose.

If your salary is not deducted, you are required to pay your monthly loan instalment to Bayport until such a time when deductions are effected on your salary. You can make these payments through: bank deposits, bank standing orders and MTN Mobile Money (code – Bayport 1). Call your nearest branch for details. This will help to avoid your loan going into arrears and penalty charges.

If my loan has been paid off, how is the monthly deduction stopped?

Once your loan has been paid off in full, Bayport will issue you a completion letter. Bayport will prepare an “off” submission requesting your Employer to stop the monthly deduction. For Government employees the deduction is expected to be stopped the following month.

How do I get my refund if the deduction is not stopped on time?

To receive a refund, please ensure that:

The loan completion is confirmed by Bayport and a loan completion letter issued.
The deduction has been received by Bayport from the respective Employer. You can call the refunds hotline: +256 (0)782-655557 / (0)779-918319 to confirm if the payment has been received.

Once the above 2 conditions have been met:

You may visit our nearest office to collect the first refund.
In the rare occurrence that a refund needs to be made after that- you have the option to allow Bayport to deposit your refund directly into your bank account until such a time when the deduction has been stopped. Bayport is committed to working with the respective Employers to ensure that deductions are stopped in a timely manner.

How are your loans priced?

Bayport loans are priced by incorporating all fees payable into a monthly installment over a specified number of months. This allows a client to easily determine the repay value of the loan that they will receive by multiplying the installment by the loan term.

Do you buy off other loans?

Yes, we buy off other loans, provided you qualify.

Leadership

Board of directors

Chairman	Charles Mbire
Independent Non-Executive Director:	Barnabas Tumusingize
Non-Executive Director:	Grant Kurland
Non-Executive Director:	Stephen Williamson
Non-Executive Director:	Marnus Kruger

Senior management

Head Governance and Forensics:	John Duwe
Head Sales & Operations:	Ruva Raphael
Head Internal Audit:	Jimmy Lumu
Ag. Head Credit:	Catherine Munyaga
Ag. Manager Finance:	Anthony Katamba
Senior Supervisor IT Services:	Churchill Muganyizi