Read More. Individuals and companies that wish to save money for a long period of time without withdrawing it. Maximum amount to be fixed … Please recommend banks with good interest rate and tell me the increment percentage, if you have any idea. Individuals and companies that wish to watch their money multiply as a result of high interest accruals. Access to personal loans and overdrafts equivalent to 80% of balance on Fixed Deposit, Optional monthly / quarterly / yearly interest payments into a current or savings account, Interest is paid into the corresponding Current or Savings account, Original & photocopy of national ID / passport and work permit (non-nationals), 1 recent coloured passport size photograph, Current tenancy lease agreement in your name, Flexible investment periods of 1,3,6,12 & 24 months, Interest is forfeited on premature withdrawal of funds, Discounted borrowing rates should you use funds held as collateral, Investment option available in different currencies, Savings fixed deposit account ideal for short and long term, i.e. 3, 6 or 12 months, Minimum amount to be fixed is UGX 1,000,000, Deposits are made once at the start of the saving period. the situation and hiked their prime lending rates accordingly. It has 1.3 million customers many of which are in the agricultural sector. This account can be accessed by any Individual Adults above 18 years. By insisting on loan recovery and cost coverage, it has reached … An international “Infinite” VISA debit card with “Chip & PIN” technology offering: Higher ATM cash withdrawal and debit card limits, Access to emergency services with Visa’s GCAS. Interest income will be forfeited for cash withdrawals made before maturity period. Certificate of deposit can be used as a guarantee to apply for a loan. Today it is one of the largest banks in Uganda with 62 branches across the country and 146 ATMs. Reap the benefits from your FINCA Fixed Account. Minimum amount to be fixed is UShs. Account where a customer’s deposits are fixed for the agreed period of time subject to non-withdrawals before the elapse of the period. Deposit Interest Rate in Uganda averaged 11.87 percent from 1987 until 2020, reaching an all time high of 38.38 percent in September of 1992 and a record low of 3.54 percent in April of 2002. Banking in a special suite that includes private tellers, private meeting rooms and an inviting lounge creating an environment favorable for your best comfort while at our premises. Click here for more information. We provide minimum account opening balance, interest rates and benefits of opening this account in various banks in Uganda, POST BANK UGANDA MINIMUM FIXED DEPOSIT ACCOUNT OPENING BALANCE, INTEREST RATES AND BENEFITS. Cash withdrawals personally made to the account by holders. The deposit can be re- invested or paid out according to clients instructions, but if contract is terminated before maturity, interest is … *, Flexible fixed periods starting from 1 to 12 months, On expiry, deposit can be liquidated or renewed, Can be used as security for loan facilities, Account is available in a variety of currencies UGX, USD, GBP and EURO, For UGX accounts a minimum deposit of UGX 1,000,000, Funds can be fixed on the account for term periods of 3,6 or 12 months depending on your choice of period, Withdrawal of funds before the maturity date results into forfeiture of interest earned, Interest is paid on maturity and provides a source for extra income, Funds in your fixed deposit account can be used to secure loans and overdrafts. This particular account is the best for anyone who is planning to save for a long period of time since it attracts attractive interest rates. An FD account is an investment in which the customer deposits a big sum of money, usually starting at RM1,000 and upwards, for a fixed time period. Standing orders. Designed and Developed by venasnews, Fixed Deposit Accounts Ugandan Banks, Minimum Deposits, Interest Rates and Benefits. … It is available to individuals, businesses, companies, groups, churches and organizations. Period of Deposit is pre-arranged (minimum 1 month & maximum 12 months.). CENTENARY BANK UGANDA FIXED DEPOSIT ACCOUNT OPENING BALANCE AND INTEREST RATES. You can seek advice on interest rates of your deposits by contacting the Contact Centre or by speaking to your Relationship Manager. Centenary Bank (full name: Centenary Rural Development Bank) was established in 1983. Currently, I'm using GT Bank and Diamond bank, but I wouldn't mind any other bank so far the bank has a better interest rate. Up to 90% of the deposit amount if loan is in same currency and 80% of deposit if loan is in different currencies. Equity Call & Fixed Deposit Account provides a high yielding interest opportunity on investment. Forex Rate. We will be accepting new placements for tenors 8 months and below. You will concur that Sapphire Banking is not just banking, but an experience! Pre-qualification for an American Express Card, Pre-qualification for an unsecured salary loan, Higher Term Loan and Overdraft limits with favorable pricing and faster approvals, Ability to negotiate for competitive FX rates, Parking sticker for parking designated exclusively for Sapphire Banking clients, Membership privileges such as discounts for services and Life & Travel Insurance, Special privileges extended to spouses and up to 3 biological children, Access to Orient Bank’s e-banking channel, Free Investment Advice by Orient’s in-house Brokers, Equity Stock Brokers (ESB). Attracts a ‘minimum balance’ violation penalty. This is a unique product, tailored for people who want to build financial muscle by fixing their deposits. FINCA BANK UGANDA FIXED DEPOSIT ACCOUNT MINIMUM ACCOUNT OPENING BALANCE AND INTEREST RATES. Centenary Bank in Uganda offers fixed deposit services for individuals who wish to save money and earn interest.The fixed deposit account features are: Cente Fixed deposit Account. State Bank of India (SBI) has hiked its fixed deposit (FD) rates for retail FDs of less than Rs.2 crores effective from 8 January. On 4th June, ICICI Bank has as well cut down the rates of interest on its savings accounts deposits that are less than Rs.50 Lakhs. Account where a customer’s deposits are fixed for an agreed period of time subject to no withdrawals before the elapse of the period. Can I open a Standard Fixed Deposit in a currency other than Uganda Shilling? Apply online now. Interest income will be forfeited for cash withdrawals made before maturity period. Your capital is guaranteed. Funds are placed for a specific period and interest is paid on maturity of the deposit. The first table below is of interest rates at Uganda’s 24 commercial banks. 300,000/=. Banks will offer a less valuable interest rate for savings accounts. With WorldRemit, you can send money to the Centenary Bank in Uganda online using our bank deposit or cash pickup service. According to CIA.gov published country data indicates its inflation was estimated to be 13.7% in 2011 and 4% in 2010. Credited to your current or savings account upon maturity. This account is designed to suit the needs of entrepreneurs who wish to accomplish a specific goal in a specific period of time. Ability to make purchases/cash withdrawals at VISA-enabled POS terminals and ATMs worldwide. The rates … Special rates for high volume deposits and long durations can be negotiated. Rolled over with the deposit upon maturity or. The tables show interest rates at Uganda’s 24 commercial banks — for current accounts, savings accounts, fixed deposits, and loans — loan-related fees and charges, minimum balances for different accounts, bank charges … The lender has increased the interest rates on fixed deposits for 1 year to less than 2 years by 10 basis points (bps). Fixed Term Deposits are long and short-term deposits offering competitive interest rates and flexible investment periods. Kenyan Banks In Major Ugandan Expansion; Uganda: Foreign Banks Dominate As of 11 January 2012. This is an account where a customer’s deposits are fixed at an attractive interest rate for. Our Fixed Deposits have been designed for entrepreneurs looking to invest significant funds for a specific period of time at negotiated rates. Limited Liability Company/ Associations/Groups. You would get competitive Interest rates based on market rates. Original and copy of identification document (passport, voter’s card, driver’s licence or national ID), DFCU BANK UGANDA FIXED DEPOSIT ACCOUNT INTEREST RATES AND MINIMUM ACCOUNT OPENING BALANCE. As a Sapphire Banking customer, you are automatically registered for the Sapphire Banking Club. HOUSING FINANCE BANK UGANDA FIXED DEPOSIT ACCOUNT MINIMUM ACCOUNT OPENING BALANCE AND INTEREST RATES. Cente Junior Account. SBI FDs between 7 days to 45 days will now help you earn 2.9%. This interest rate is reduced to 3% from 3.25%. It can also be use as security for accessing and loan facility. 300,000/=. Cente Plus Account. Our Fixed Deposit Accounts, suit those entrepreneurs looking to invest significant funds for a specific period of time at a fixed rate of interest. Fixed deposit account is better than savings account since interest rate earned from the former is higher than from savings account. Term deposits between 46 days to 179 … @2018 - venasnews.com. 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