Loan cost calculator
Worked example: UGX 100,000 for 30 days at 2.8% with UGX 13,000 in fees.
Interest
UGX 2,800
Fees
UGX 13,000
Total cost
UGX 15,800
True monthly cost
15.8%
warning
- Fees may be used to exceed the interest cap — for UMRA judgement. True monthly cost is 15.8% against an advertised 2.8%.
- The true cost is more than 5 times the advertised rate.
Advertised rate vs true monthly cost