Mortgage Calculator for Uganda (UGX)
Updated 3 November 2026 · Land & Property editorial team
On a UGX 300 million home with a 70% loan over 20 years, the monthly repayment is about UGX 2.92 million at 16%, UGX 3.36 million at 18.73% and UGX 3.90 million at 22%. Those rates are market guides, not bank quotes. Enter the rate in your own written offer to get your figure, and expect fees and a deposit on top.
- Average shilling lending rate, Feb 2026
- 18.73% (all shilling loans, not only mortgages)
- Central Bank Rate
- 12%, raised from 9.75% on 14 Oct 2026
- Mortgage rate range quoted
- 16% to 22% (bank email, Aug 2023)
- Example repayment, UGX 210M, 20 years, 18.73%
- UGX 3,359,401 a month
How does the mortgage calculator work?
The calculator on this page uses the standard repayment formula for a loan repaid in equal monthly instalments. You enter four things and it returns the monthly repayment, the total repaid and the interest paid.
- Home price in UGX.
- Loan share of the price. We start it at 70%, which means a 30% deposit.
- Annual interest rate. This is the number you must take from your bank's written offer. We do not fill in a "market rate" for you.
- Term in years. We start at 20.
The formula is: monthly repayment = loan x r / (1 - (1 + r)^-n), where r is the annual rate divided by 12 and n is the number of months. It assumes a fixed rate for the whole term and no fees. A real loan may have a variable rate, so the true figure can move. The calculator shows what the formula says, nothing more.
What interest rate should I enter?
Use the rate in your bank's written offer. There is no single published mortgage rate in Uganda, so any number we show is a guide for testing. Three dated points help you choose a range to test:
- The weighted average rate on shilling loans was 18.73% in February 2026, up from 18.33% in January, and foreign-currency loans averaged 7.09%, according to the Ministry of Finance report summarised by Eagle Online on 23 April 2026. This covers all shilling lending, not only mortgages.
- A housing finance review says mortgage rates range from 16% to 22% over loans of up to 25 years. Its source is a bank manager's email of 16 August 2023, so it is old.
- On 14 October 2026 the Bank of Uganda raised its Central Bank Rate from 9.75% to 12%, citing oil prices, a weaker shilling and inflation risk, as the Daily Monitor reported. Banks may reprice after that. We found no bank that had published new mortgage rates after the rise, so do not assume February's figure still holds.
For that reason the worked examples below show three rates side by side. Test 16%, 18.73% and 22%, then replace them with the number your bank quotes. Our guide to mortgages in Uganda: banks, rates and deposits lists what lenders publish.
What are the worked examples on UGX 300 million and UGX 500 million?
These examples assume a 70% loan, a 20-year term and a fixed rate. They are our own arithmetic from the formula above, not bank quotes. The income column shows the gross monthly income needed if repayments are capped at 35% of income, which is an assumption you can change in the tool.
| Home price | Loan (70%) | Rate | Monthly repayment | Total repaid over 20 years | Gross income needed at a 35% cap |
|---|---|---|---|---|---|
| UGX 300,000,000 | UGX 210,000,000 | 16% | UGX 2,921,637 | UGX 701,192,994 | UGX 8,347,536 |
| UGX 300,000,000 | UGX 210,000,000 | 18.73% | UGX 3,359,401 | UGX 806,256,192 | UGX 9,598,288 |
| UGX 300,000,000 | UGX 210,000,000 | 22% | UGX 3,899,826 | UGX 935,958,208 | UGX 11,142,360 |
| UGX 500,000,000 | UGX 350,000,000 | 16% | UGX 4,869,396 | UGX 1,168,654,990 | UGX 13,912,559 |
| UGX 500,000,000 | UGX 350,000,000 | 18.73% | UGX 5,599,001 | UGX 1,343,760,320 | UGX 15,997,147 |
| UGX 500,000,000 | UGX 350,000,000 | 22% | UGX 6,499,710 | UGX 1,559,930,346 | UGX 18,570,599 |
Read the totals. On the UGX 210 million loan at 18.73%, you repay about UGX 806 million, so about UGX 596 million of that is interest. Changing the term barely helps: at 18.73%, a 25-year term lowers the monthly payment on that loan only from UGX 3,359,401 to UGX 3,309,510, while a 15-year term raises it to UGX 3,492,752.
What does the calculator not include?
It leaves out the costs around the loan, because they vary by bank and we cannot source one scale for all of them. Ask each lender in writing about:
- application, valuation and survey fees, and credit-bureau checks;
- fees after approval, such as arrangement and security registration fees;
- insurance on the property and on your life, if the bank requires it;
- whether early repayment carries a charge.
Add the cost of the purchase itself as well. Stamp duty on a land transfer is 1.5% of the valuer's value as of November 2026, and the property transfer cost calculator adds those lines. Your own funds must cover the deposit and these costs, which is why the loan is never the whole bill.
Is the monthly repayment affordable for me?
Affordability depends on income and other debts, which the calculator cannot see. As a rough test, compare the repayment with your monthly income after other loans. A housing finance review reports a Bank of Uganda loan-to-value limit of 85% (from 2020), and banks usually also cap what share of your pay can go on repayments. Treat 35% as an assumption to adjust, not as a rule that every bank applies, and confirm the cap with the bank.
If you want to work backwards from your income instead of forwards from a price, use how big a mortgage can I afford. This is not financial advice, and a high rate leaves little room if your income falls or the shilling weakens. Keep a cushion.
Will the Mortgage Refinance Institutions Act lower my rate?
Not yet on the evidence we found. The Act, passed by Parliament on 4 September 2025 according to the Bank of Uganda, lets licensed refinance institutions give banks long-term funds so they can lend for longer at better rates. We found no report of a licensed institution operating as of November 2026, and the policy rate went up in October. Read what the Mortgage Refinance Institutions Act may change before you wait for lower rates. When you are ready to compare, gather the papers in documents a Ugandan bank wants for a mortgage, then browse plot listings or ask our team on WhatsApp or by email.
Frequently asked questions
How much is a mortgage on UGX 300 million per month?
With a 70% loan of UGX 210 million over 20 years, the repayment is about UGX 2,921,637 at 16%, UGX 3,359,401 at 18.73% and UGX 3,899,826 at 22%. These are our calculations, not bank quotes. Your bank sets the real rate and may add fees.
What interest rate should I enter?
Enter the rate in your bank's written offer. For testing, the average shilling lending rate was 18.73% in February 2026, and one review quotes 16% to 22% for mortgages. The Central Bank Rate rose to 12% on 14 October 2026, so rates may have moved since.
How much deposit do I need?
The calculator starts with a 70% loan, which means a 30% deposit, because lenders differ. A housing finance review reports a Bank of Uganda ceiling of 85% loan to value from 2020, which would mean 15%. Ask each bank what it lends on your property.
Does a longer term make the mortgage cheap?
Not much. On a UGX 210 million loan at 18.73%, moving from 20 to 25 years only lowers the monthly payment from about UGX 3,359,401 to UGX 3,309,510, and you pay interest for five more years. Most of the cost is interest at these rates.
Is the calculator a loan offer?
No. It is a planning tool that applies a standard formula to the numbers you type. It is not a quote, an approval or financial advice. Only a bank can offer you a loan, after checking your income, the title and the property.
Sources
- Uganda's shilling lending rates rise to 18.73% in February 2026, Eagle Online, 23 April 2026 (accessed 2026-11)
- Uganda housing finance profile, Centre for Affordable Housing Finance in Africa (accessed 2026-11)
- BoU raises interest rate to 12 as shilling weakness stokes inflation, Daily Monitor, October 2026 (accessed 2026-11)
- Stamp duty and TIN requirements for land transactions, Uganda Revenue Authority (Taxman) (accessed 2026-11)