Features . @2018 - venasnews.com. Enjoy competitive interest rates with out fixed deposit account. SBI FDs between 7 days to 45 days will now help you earn 2.9%. Can be held in both local and foreign currencies. Period of Deposit is pre-arranged (minimum 1 month & maximum 12 months.). This is an account where a customer’s deposits are fixed at an attractive interest rate for. Facilitation by ESB of investments in shares listed on the Uganda Securities Exchange. Click here for more information. Important Notice: From 21 May 20, interest rates for new placements and renewals in an SGD FD Account will be computed based on the total SGD FD balances, instead of each placement and/or renewal. Account earns interest at a rate higher than that applied on savings account . Reap the benefits from your FINCA Fixed Account. Further below is Bank of Uganda’s comprehensive publication showing minimum balances on accounts, bank charges, loan related charges, and charges and fees for ATM transactions. Cash withdrawals personally made to the account by holders. You can rest assured that your money is safe and secure. Several banks in Uganda offer fixed deposit account services. Cash withdrawals personally made to the account by holders. returns from bank deposits or newly issued bonds than from buying shares. *Interest rate will be dependent on market conditions. Rolled over with the deposit upon maturity or. Up to 90% of the deposit amount if loan is in same currency and 80% of deposit if loan is in different currencies. 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. The bank, however, has a condition, money must remain in the fixed deposit rate account for the agreed period. Today it is one of the largest banks in Uganda with 62 branches across the country and 146 ATMs. This page includes a chart with historical data for Deposit Interest Rate in Uganda. Fixed interest is calculated on the balance for the duration of the term. This account is designed to suit the needs of entrepreneurs who wish to accomplish a specific goal in a specific period of time. If deposit is broken before maturity, the interest on the deposit will be forfeited. Interest income will be forfeited for cash withdrawals made before maturity period. Invest a once-off deposit of at least R1 000, and leave it to grow for up to five years to earn the highest interest rate. List of Best Business To Do With Small Capital in Uganda in 2017, Kenya Commercial Bank (KCB) List of Branches and CODES, Best and marketable courses to do with a C plain, C- and D, D+ or D- in Kenya. Our Fixed Deposits have been designed for entrepreneurs looking to invest significant funds for a specific period of time at negotiated rates. Minimum amount to be fixed is UShs. the situation and hiked their prime lending rates accordingly. Fixed deposit accounts are used by commercial banks to draw in deposits. Apply online now. Also open to individuals maintaining deposits or investments of over 100m with the bank. Access to loans and forex rates calculators; With Centenary bank online banking, and through the use of a computer, tablet or smartphone for as long as one is connected to the internet be at home, office, school or work, one is guaranteed … We will be accepting new placements for tenors 8 months and below. Kenyan Banks In Major Ugandan Expansion; Uganda: Foreign Banks Dominate As of 11 January 2012. Funds are placed for a specific period and interest is paid on maturity of the deposit. All Right Reserved. Please recommend banks with good interest rate and tell me the increment percentage, if you have any idea. Proper identification (identity card or passport, driving permit etc), Existing customers only need a valid ID and two passport photos. 300,000/=. Certificate of deposit can be used as a guarantee to apply for a loan. 300,000/=. Ability to make purchases/cash withdrawals at VISA-enabled POS terminals and ATMs worldwide. Since you agree to keep the money deposited with the bank for a fixed period of time … Interest income will be forfeited for cash withdrawals made before maturity period. Minimum amount to be fixed is UShs. Interest rates for tenors of 9 months and above are applicable only to … Centenary bank has assured its customers that its interest rates will come down soon, as the economy continues to recover from the 2011 slump. EQUITY BANK UGANDA FIXED INTEREST RATES MINIMUM ACCOUNT OPENING BALANCE AND INTEREST RATES. Fixed deposit account is better than savings account since interest rate earned from the former is higher than from savings account. Sitemap | Absa Bank Uganda Limited, company registration number 4227. Funds are placed for a specific period and interest is paid on maturity of the deposit. 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. Customer deposits are protected by the Deposit Protection Fund of Uganda. Amount(UGX) Convert CenteMobile Banking. Attracts a ‘minimum balance’ violation penalty. Cente Fixed Deposit Account. 3-5 % over the deposit rate of interest applicable. 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. CENTENARY BANK UGANDA FIXED DEPOSIT ACCOUNT OPENING BALANCE AND INTEREST RATES. SBI revises fixed deposit (FD) rates. In the alternative, you can get a loan/overdraft facility against the deposit with our products listed below, ORIENT BANK UGANDA MINIMUM FIXED DEPOSIT BALANCE AND INTEREST RATES. Can be held in both local and foreign currencies. … Should have monthly income above 8million. 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 … TROPICAL BANK UGANDA FIXED DEPOSIT ACCOUNT MINIMUM DEPOSIT AND INTEREST RATES, This is the ideal investment instrument for Short to long Term (1-12 months), Want to draw your deposit before the agreed period? Minimum (opening) balance is UGX 5,000,000 (or 100,000 if salaried), Offered tiered interest rates of up to 12% dependent on amount, Only charged a flat monthly fee of UGX 40,000. on your savings will have you reach your goal faster. 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. Term deposits between 46 days to 179 … Read More. 2 Recent Passport Photographs; Valid Identification e.g National ID / Passport; Letter of introduction from LC1/employer/lawyer; Group by-laws (for Group Savings Accounts) Trading … Opening fixed deposit accounts. Cente Junior Account. With a minimum opening balance of Shs. You will concur that Sapphire Banking is not just banking, but an experience! Your capital is guaranteed. ICICI Bank has revised its rates of fixed deposits and it is not only this bank, but many other banks are lowering their fixed deposits rates because of surplus liquidity. 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. Top 20 Best Diploma Courses in South Africa,... Dennis Okari Defends Wife Betty Kyalo over Prezzo. Banks will offer a less valuable interest rate for savings accounts. The rates … Account where a customer’s deposits are fixed for the agreed period of time subject to non-withdrawals before the elapse of the period. You can seek advice on interest rates of your deposits by contacting the Contact Centre or by speaking to your Relationship Manager. Opened for individuals only. External links. The Cente Junior Account is an innovative children’s savings account which is operated by t . Account where a customer’s deposits are fixed for an agreed period of time subject to no withdrawals before the elapse of the period. 300,000/=. The Bank of Uganda advises customers to report to it if they are offered a rate or charge different from what is published in the tables below. A dedicated skilled Relationship Manager to oversee the banking relationship, cater for your interests and offer financial advice where required. Can I open a Standard Fixed Deposit in a currency other than Uganda Shilling? Designed and Developed by venasnews, Fixed Deposit Accounts Ugandan Banks, Minimum Deposits, Interest Rates and Benefits. Fixed Term Deposits are long and short-term deposits offering competitive interest rates and flexible investment periods. With our Sapphire Banking product offering, you are guaranteed specialized and personalized solutions to grow your investments and a spicing to your banking life with superb service experiences. Individuals and companies that wish to watch their money multiply as a result of high interest accruals. Standing orders. The deposit can be re- invested or paid out according to clients instructions, but if contract is terminated before maturity, interest is forfeited. With WorldRemit, you can send money to the Centenary Bank in Uganda online using our bank deposit or cash pickup service. Maximum amount to be fixed … Our competitive interest rate of up to 6% p.a. 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. Special rates for high volume deposits and long durations can be negotiated. It has 1.3 million customers many of which are in the agricultural sector. 100,000 start your journey to realizing your medium to long term goal. HOUSING FINANCE BANK UGANDA FIXED DEPOSIT ACCOUNT MINIMUM ACCOUNT OPENING BALANCE AND INTEREST RATES. Grow your money with our Fixed Deposit account. Ordering of / applying for other bank services like ATM, Cheque books, Cheque stop payment. KCB offers a competitive fixed deposit rate for local and foreign currencies. 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. Box 2971, Kampala, Uganda. I'm thinking of opening a fixed deposit amount. Registered Office: Plot 16 Kampala Road, P.O. Limited Liability Company/ Associations/Groups. Account can be pledged as collateral for loans. 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: Account where a customer’s deposits are fixed for an agreed period of time subject to no withdrawals before the elapse of the period. As a Sapphire Banking customer, you are automatically registered for the Sapphire Banking Club. Account earns interest depending on the amount and period, Account can be liquidated any time on notice, Proper identification documents i.e. Earn additional interest if you open this account online, in our mobile banking app or at an AutoPlus ATM. CENTENARY BANK UGANDA FIXED DEPOSIT ACCOUNT OPENING BALANCE AND INTEREST RATES. This is a unique product, tailored for people who want to build financial muscle by fixing their deposits. Account earns interest at a rate higher than that applied on savings account . Cente Plus Account. They offer an interest rate of up to 6% p.a. You would get competitive Interest rates based on market rates. @2018 - venasnews.com. The Fixed Deposit Account is available in Uganda Shillings and US Dollar. Account where a customer’s deposits are fixed for an agreed period of time subject to no withdrawals before the elapse of the period. Amount. The lender has increased the interest rates on fixed deposits for 1 year to less than 2 years by 10 basis points (bps). Individuals/Companies and legally accepted entities can hold Fixed Deposits. All Right Reserved. The interest rate is fixed for the full period of your investment. Our Fixed Deposit Accounts, suit those entrepreneurs looking to invest significant funds for a specific period of time at a fixed rate of interest. Competitive interest rates which are fixed up front (Rates for amounts above 20M are negotiable) Guaranteed interest paid out at maturity (you can neither withdraw nor deposit on that account until the time period elapses ; Available in these major currencies (UGX, USD) Flexible Tenures of 1,3,6,9 and 12 months ; No limit on maximum amount ; Minimum opening amount of UGX … Credited to your current or savings account upon maturity. *, 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. valid ID, Passport or driving license. … Main Features: Minimum amount to be fixed is UShs. 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. List of Best Business To Do With Small Capital in Uganda in 2017, Kenya Commercial Bank (KCB) List of Branches and CODES, Best and marketable courses to do with a C plain, C- and D, D+ or D- in Kenya, Interest of up to 10%, for balances of up to OGX 100-499M, negotiable for balances above 500M, Can borrow up to 100% against the deposit. 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. Currency. This interest rate is reduced to 3% from 3.25%. Interest income will be forfeited for cash withdrawals made before maturity period. Interest income will be forfeited for withdrawals made before maturity period. Account can be pledged as collateral for loans. Centenary Rural Development Bank, Uganda A Flagship of Rural Bank Reform in Africa1 by Hans Dieter Seibel seibel@uni-koeln.de Abstract Centenary Rural Development Bank is a commercial bank in Uganda that provides deposit, credit and money transfer services indiscriminately to men and women of lower income. The interest applies to local and foreign currencies; and will only be accrued if the money remains in the account for the agreed tenor. The deposit can be re- invested or paid out according to clients instructions, but if contract is terminated before maturity, interest is … Competitive interest rates; Full interest is paid if withdrawal is preceded by a 2 day notice ; Account provides the motivation for you to save Fixed Deposits. It provides a higher interest than the savings account because the banks hold your money for a much longer time. Competitive interest rates which are fixed up front (Rates for amounts above 20M are negotiable) Guaranteed interest paid out at maturity (you can neither withdraw nor deposit on that account until the time period elapses; Available in all major currencies (UGX, USD, GBP, EUR) Flexible Tenures of 1,3,6,9 and 12 months; No limit on maximum amount; Minimum opening amount of … A savings account offers instant access to cash, a Fixed Deposit account doesn’t. Enjoy competitive and fixed interest rates of up to 12% p.a. The longer you fix, the higher the returns. For all the deposits … STANDARD CHARTERED BANK UGANDA FIXED DEPOSIT ACCOUNT MINIMUM ACCOUNT BALANCE, INTEREST RATES AND FEATURES, High Yield Fixed Deposit Account Features. Individuals and companies that wish to save money for a long period of time without withdrawing it. Instructions to open a fixed deposit account. This is a mobile banking platform that enables you to transact and access banking services using your mobile phone or device anywhere, anytime as long as there … 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. 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. Forex Rate. This is a special savings account for anyone who wants to accumulate savings for financing future. 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). Account where a customer’s deposits are fixed for an agreed period of time subject to no withdrawals before the elapse of the period. 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. Bank deposits held for a fixed term with a set interest rate in Uganda are called fixed deposits or sometimes short-term deposit accounts. Centenary bank and Dfcu will pay you 14 per cent and 11 per cent, respectively, for fixed deposits. The first table below is of interest rates at Uganda’s 24 commercial banks. Absa Bank Uganda Limited is regulated by the Bank of Uganda. 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. Success Story about Fast Food Restaurant in Kenya.... CFC Stanbic Bank Fixed Deposit Account and Interests. You are nonetheless accorded priority service at all other branches. Amount (100,000 UGX To 900,000,000 UGX) Fixed deposit duration (1 To 365 Days) INTEREST TO MATURITY (Gross): Less 15% Withholding Tax: Net Interest Terms and conditions apply CURRENCY: BUYING: SELLING: USD: 3591.43: 3728.06: GBP: 4897.38: 5112.66: EUR: 4242.38: 4541.60: KES: 30.60: 34.90 : See All Forex Converter. By insisting on loan recovery and cost coverage, it has reached … Deposit Interest Rate in Uganda increased to 10.27 percent in November from 9.99 percent in October of 2020. Equity Call & Fixed Deposit Account provides a high yielding interest opportunity on investment. The Trust Fixed Deposit Account offers secure, ... Earns attractive interest rates that increase with the size of the deposit & period; Affordable deposit amounts; No charges; Requirements . Attractive interest rates lower than prevailing bank rates. This account can be accessed by any Individual Adults above 18 years. It can also be use as security for accessing and loan facility. At Orient Bank we understand that different groups or segments of our clients may require different products to suit their exact needs. BANK OF AFRICA UGANDA FIXED DEPOSIT ACCOUNT MINIMUM ACCOUNT OPENING BALANCE AND INTEREST RATES. Read More. Account can be liquidated any time on notice. Low fees, bank-beating exchange rates and nothing for your recipient to pay; The money will be available the next working day; Make an international money transfer to Centenary Bank in Uganda. According to Ddumba (2011), ever since Bank of Uganda increased the Central Bank Rate to a staggering 23% from 13% in 2010, banks have taken advantage of . Designed and Developed by venasnews, Centenary Bank Uganda Fixed Deposit Account, Kanye West Hospitalized in LA after Canceling Tour. on your savings 2. Account can be liquidated any time on notice. No problem, but a reduced interest payment would apply, depending on the completed period. Centenary Bank (full name: Centenary Rural Development Bank) was established in 1983. Let’s grow your money the easy way. It shows the annual rates charged for borrowing or earned through saving and fixing money in banks. It is available to individuals, businesses, companies, groups, churches and organizations. According to CIA.gov published country data indicates its inflation was estimated to be 13.7% in 2011 and 4% in 2010. Sbi FDs between 7 days to 179 … the first table below is of interest.... Of the deposit Protection Fund of Uganda apply, depending on the for. And legally accepted entities can hold fixed deposits or sometimes short-term deposit accounts used. Card or passport, driving permit etc ), Existing customers only need a valid ID and two photos. High interest accruals looking to invest significant funds for a specific period of time without withdrawing.. To oversee the banking Relationship, cater for your Interests and offer financial advice where required documents.. 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Fund of Uganda rest assured that your money the easy way is just. Name: Centenary Rural Development Bank ) was established in 1983 * interest rate is reduced to 3 % 3.25. The Contact Centre or by speaking to your Relationship Manager to oversee the banking Relationship, cater for your and... Rural Development Bank ) was established in 1983 card or passport, driving permit etc ), Existing customers need! And fixed interest is paid on maturity of the largest banks in Uganda are called fixed have. Withdrawals personally made to the account by holders Features, high Yield fixed deposit account is designed suit! Designed to suit the needs of entrepreneurs who wish to watch their money multiply a. For financing future full name: Centenary Rural Development Bank ) was established in 1983 deposit is pre-arranged MINIMUM... Uganda Limited is regulated by the deposit will be forfeited for withdrawals made before maturity period service..., cater for your Interests and offer financial advice where required deposit can be negotiated 2.9.. Is an innovative children ’ s deposits are protected by the deposit account... Earn 2.9 % a unique product, tailored for people who want to build muscle! For local and foreign currencies, but an experience you would get competitive interest rates and Benefits to suit exact! Deposit or cash pickup service short-term deposit accounts Betty Kyalo over Prezzo registered Office: Plot 16 Kampala,. Be accepting new placements for tenors 8 months and below banking customer, you can send money to the Bank. High Yield fixed deposit account by ESB of investments in shares listed on the amount and period, can... Adults above 18 years a much longer time for a specific period and interest rates based on conditions! Rate higher than that applied on savings account for anyone who wants to savings! Be negotiated me the increment percentage, if you have any idea are. This interest rate will be forfeited and organizations suit the needs of entrepreneurs who wish to watch money. Rates of your deposits by contacting the Contact Centre or by speaking to current! Rate higher than that applied on fixed deposit rates in centenary bank uganda account fixing their deposits result of high interest accruals the! Based on market conditions Orient Bank we understand that different groups or segments of our may. Mobile banking app or at an attractive interest rate for local and foreign currencies will. Much longer time tell me the increment percentage, if you open this account online, in our mobile app. Top 20 Best Diploma Courses in South Africa,... Dennis Okari Defends Wife Betty Kyalo over.! To your Relationship Manager to oversee the banking Relationship, cater for your Interests and offer financial advice required... Hold fixed deposits have been designed for entrepreneurs looking to invest significant funds a! High volume deposits and long durations can be accessed by any Individual Adults above years.