Maximum credit validity (Refers to the credit limit activation validity period)：2 years
Credit Line：200,000 UGX - 1,000,000 UGX
Repayment term：180 days - 280 days
APR: 12% - 30%

The following examples will help you understand our products:
①If your line of credit is 200,000 UGX, and you choose to withdraw 50,000 UGX amount. Your repayment term is 180 days. Your interest rate 12% per annual.
Your one time processing fee is 300 UGX; Your interest is 50000*12%/365=16.4 per day.
You decide to repay the bill after 150 days. Your repayment amount is calculated as follows:
Principal=50000；
One time processing fee=300
Interest=50000*12%/365*150=2460
Your total repayment amount=50000+300+2460=55460

②If your line of credit is 1,000,000 UGX, and you choose to withdraw 150,000 UGX amount. Your repayment term is 280 days. Your interest rate 30% per annual.
Your one time processing fee is 300 UGX; Your interest is 150000*30%/365=123 per day.
You decide to repay the bill after 200 days. Your repayment amount is calculated as follows:
Principal=150000；
One time processing fee=300
Interest=150000*30%/365*200=24600
Your total repayment amount=150000+300+24600=177600

Parallel Card is a personal line of credit product (PLOC) that provides you with a preset borrowing limit. Once you are approved for your borrowing limit, you can withdraw any amount (usually with a minimum withdrawal amount) at any time and as many times as you want within the borrowing limit.
You can repay at any time according to your personal needs within the agreed maximum repayment period, and we will only charge interest during the period when you use the credit line. Once you complete the repayment, the corresponding amount will revert to your available limit.

Advantage*
1. No fees will be incurred if you do not withdraw after the credit limit is approved.
2. The repayment period is long and flexible, allowing you to borrow and repay at any time within the agreed maximum period without incurring additional fees.
3. Flexible use, you can withdraw at multiple times or any amount within the limit according to your personal needs.
4. Revolving limit, after the bill is paid off, your corresponding available limit will be restored immediately.

Withdraw Application Eligibility*
1.Ugandan citizen
2.Have a fixed income
3.Age between 20-65

Contact us*
Address：300 metres off the, Kampala - Entebbe Rd, Kitende, Uganda
Telephone：+256 0741998072
Email：Parallelugandaservice@outlook.com

Parallel Card-credit online