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. Cente Junior Account. It has 1.3 million customers many of which are in the agricultural sector. Individuals and companies that wish to save money for a long period of time without withdrawing it. Can be held in both local and foreign currencies. Centenary bank has assured its customers that its interest rates will come down soon, as the economy continues to recover from the 2011 slump. You will concur that Sapphire Banking is not just banking, but an experience! The bank, however, has a condition, money must remain in the fixed deposit rate account for the agreed period. Minimum amount to be fixed is UShs. The interest applies to local and foreign currencies; and will only be accrued if the money remains in the account for the agreed tenor. 300,000/=. You are nonetheless accorded priority service at all other branches. Standing orders. With WorldRemit, you can send money to the Centenary Bank in Uganda online using our bank deposit or cash pickup service. Centenary bank and Dfcu will pay you 14 per cent and 11 per cent, respectively, for fixed deposits. Today it is one of the largest banks in Uganda with 62 branches across the country and 146 ATMs. Enjoy competitive and fixed interest rates of up to 12% p.a. It can also be use as security for accessing and loan facility. With a minimum opening balance of Shs. A dedicated skilled Relationship Manager to oversee the banking relationship, cater for your interests and offer financial advice where required. This page includes a chart with historical data for Deposit Interest Rate in Uganda. Interest income will be forfeited for cash withdrawals made before maturity period. Minimum amount to be fixed is UShs. Enjoy competitive interest rates with out fixed deposit account. Can I open a Standard Fixed Deposit in a currency other than Uganda Shilling? Customer deposits are protected by the Deposit Protection Fund of Uganda. Instructions to open a fixed deposit account. Absa Bank Uganda Limited is regulated by the Bank of Uganda. Account where a customer’s deposits are fixed for an agreed period of time subject to no withdrawals before the elapse of the period. 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 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 … 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. 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. *, 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. You can seek advice on interest rates of your deposits by contacting the Contact Centre or by speaking to your Relationship Manager. SBI FDs between 7 days to 45 days will now help you earn 2.9%. I'm thinking of opening a fixed deposit amount. Deposit Interest Rate in Uganda increased to 10.27 percent in November from 9.99 percent in October of 2020. valid ID, Passport or driving license. 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? 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. 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 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. HOUSING FINANCE BANK UGANDA FIXED DEPOSIT ACCOUNT MINIMUM ACCOUNT OPENING BALANCE AND INTEREST RATES. Special rates for high volume deposits and long durations can be negotiated. 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 … Funds are placed for a specific period and interest is paid on maturity of the deposit. Ability to make purchases/cash withdrawals at VISA-enabled POS terminals and ATMs worldwide. 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. Limited Liability Company/ Associations/Groups. Proper identification (identity card or passport, driving permit etc), Existing customers only need a valid ID and two passport photos. Currency. the situation and hiked their prime lending rates accordingly. Features . Registered Office: Plot 16 Kampala Road, P.O. Also open to individuals maintaining deposits or investments of over 100m with the bank. 3-5 % over the deposit rate of interest applicable. Facilitation by ESB of investments in shares listed on the Uganda Securities Exchange. Account can be pledged as collateral for loans. BANK OF AFRICA UGANDA FIXED DEPOSIT ACCOUNT MINIMUM ACCOUNT OPENING BALANCE AND INTEREST RATES. No problem, but a reduced interest payment would apply, depending on the completed period. 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. Earn additional interest if you open this account online, in our mobile banking app or at an AutoPlus ATM. By insisting on loan recovery and cost coverage, it has reached … 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 … FINCA BANK UGANDA FIXED DEPOSIT ACCOUNT MINIMUM ACCOUNT OPENING BALANCE AND INTEREST RATES. Should have monthly income above 8million. Account can be pledged as collateral for loans. Opened for individuals only. You can rest assured that your money is safe and secure. 300,000/=. Box 2971, Kampala, Uganda. 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. Account where a customer’s deposits are fixed for the agreed period of time subject to non-withdrawals before the elapse of the period. 100,000 start your journey to realizing your medium to long term goal. Opening fixed deposit accounts. All Right Reserved. Attractive interest rates lower than prevailing bank rates. 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. 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 … Attracts a ‘minimum balance’ violation penalty. Period of Deposit is pre-arranged (minimum 1 month & maximum 12 months.). Cente Fixed Deposit 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. Term deposits between 46 days to 179 … 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. 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. on your savings 2. Since you agree to keep the money deposited with the bank for a fixed period of time … Individuals/Companies and legally accepted entities can hold Fixed Deposits. Read More. Several banks in Uganda offer fixed deposit account services. Fixed deposit accounts are used by commercial banks to draw in deposits. Interest income will be forfeited for withdrawals made before maturity period. The Fixed Deposit Account is available in Uganda Shillings and US Dollar. Grow your money with our Fixed Deposit account. 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. You would get competitive Interest rates based on market rates. Rolled over with the deposit upon maturity or. CENTENARY BANK UGANDA FIXED DEPOSIT ACCOUNT OPENING BALANCE AND INTEREST RATES. A savings account offers instant access to cash, a Fixed Deposit account doesn’t. 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 . Centenary Bank (full name: Centenary Rural Development Bank) was established in 1983. 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. Please recommend banks with good interest rate and tell me the increment percentage, if you have any idea. @2018 - venasnews.com. Maximum amount to be fixed … Account where a customer’s deposits are fixed for an agreed period of time subject to no withdrawals before the elapse of the period. The lender has increased the interest rates on fixed deposits for 1 year to less than 2 years by 10 basis points (bps). Up to 90% of the deposit amount if loan is in same currency and 80% of deposit if loan is in different currencies. The interest rate is fixed for the full period of your investment. Designed and Developed by venasnews, Fixed Deposit Accounts Ugandan Banks, Minimum Deposits, Interest Rates and Benefits. returns from bank deposits or newly issued bonds than from buying shares. 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. Certificate of deposit can be used as a guarantee to apply for a loan. It shows the annual rates charged for borrowing or earned through saving and fixing money in banks. Fixed Term Deposits are long and short-term deposits offering competitive interest rates and flexible investment periods. 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. 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. on your savings will have you reach your goal faster. Interest income will be forfeited for cash withdrawals made before maturity period. *Interest rate will be dependent on market conditions. Funds are placed for a specific period and interest is paid on maturity of the deposit. Account where a customer’s deposits are fixed for an agreed period of time subject to no withdrawals before the elapse of the period. SBI revises fixed deposit (FD) rates. KCB offers a competitive fixed deposit rate for local and foreign currencies. External links. Our Fixed Deposits have been designed for entrepreneurs looking to invest significant funds for a specific period of time at negotiated rates. At Orient Bank we understand that different groups or segments of our clients may require different products to suit their exact needs. STANDARD CHARTERED BANK UGANDA FIXED DEPOSIT ACCOUNT MINIMUM ACCOUNT BALANCE, INTEREST RATES AND FEATURES, High Yield Fixed Deposit Account Features. 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. Designed and Developed by venasnews, Centenary Bank Uganda Fixed Deposit Account, Kanye West Hospitalized in LA after Canceling Tour. If deposit is broken before maturity, the interest on the deposit will be forfeited. This is a special savings account for anyone who wants to accumulate savings for financing future. … It is available to individuals, businesses, companies, groups, churches and organizations. Reap the benefits from your FINCA Fixed Account. 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 . 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. Cash withdrawals personally made to the account by holders. The rates … Credited to your current or savings account upon maturity. 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. Individuals and companies that wish to watch their money multiply as a result of high interest accruals. Account earns interest at a rate higher than that applied on savings account . Equity Call & Fixed Deposit Account provides a high yielding interest opportunity on investment. This is an account where a customer’s deposits are fixed at an attractive interest rate for. 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 rates for tenors of 9 months and above are applicable only to … 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. Cash withdrawals personally made to the account by holders. @2018 - venasnews.com. Account earns interest depending on the amount and period, Account can be liquidated any time on notice, Proper identification documents i.e. Click here for more information. Can be held in both local and foreign currencies. Cente Plus Account. 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. EQUITY BANK UGANDA FIXED INTEREST RATES MINIMUM ACCOUNT OPENING BALANCE AND INTEREST RATES. CENTENARY BANK UGANDA FIXED DEPOSIT ACCOUNT OPENING BALANCE AND INTEREST RATES. 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 … Account can be liquidated any time on notice. Ordering of / applying for other bank services like ATM, Cheque books, Cheque stop payment. The longer you fix, the higher the returns. 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. 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. Amount. Our competitive interest rate of up to 6% p.a. … Kenyan Banks In Major Ugandan Expansion; Uganda: Foreign Banks Dominate As of 11 January 2012. 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