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. Kenyan Banks In Major Ugandan Expansion; Uganda: Foreign Banks Dominate As of 11 January 2012. Standing orders. Up to 90% of the deposit amount if loan is in same currency and 80% of deposit if loan is in different currencies. A dedicated skilled Relationship Manager to oversee the banking relationship, cater for your interests and offer financial advice where required. Attractive interest rates lower than prevailing bank rates. FINCA BANK UGANDA FIXED DEPOSIT ACCOUNT MINIMUM ACCOUNT OPENING BALANCE AND INTEREST RATES. Interest rates for tenors of 9 months and above are applicable only to … Cash withdrawals personally made to the account by holders. 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 earns interest at a rate higher than that applied on savings account . valid ID, Passport or driving license. Reap the benefits from your FINCA Fixed Account. 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 can seek advice on interest rates of your deposits by contacting the Contact Centre or by speaking to your Relationship Manager. Interest income will be forfeited for withdrawals made before maturity period. According to CIA.gov published country data indicates its inflation was estimated to be 13.7% in 2011 and 4% in 2010. Funds are placed for a specific period and interest is paid on maturity of the deposit. Account can be pledged as collateral for loans. 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. Currency. You are nonetheless accorded priority service at all other branches. I'm thinking of opening a fixed deposit amount. It provides a higher interest than the savings account because the banks hold your money for a much longer time. It is available to individuals, businesses, companies, groups, churches and organizations. Account earns interest at a rate higher than that applied on savings account . Should have monthly income above 8million. The bank, however, has a condition, money must remain in the fixed deposit rate account for the agreed period. Apply online now. Account earns interest depending on the amount and period, Account can be liquidated any time on notice, Proper identification documents i.e. Individuals and companies that wish to save money for a long period of time without withdrawing it. We will be accepting new placements for tenors 8 months and below. This page includes a chart with historical data for Deposit Interest Rate in Uganda. Enjoy competitive interest rates with out fixed deposit account. Fixed deposit accounts are used by commercial banks to draw in deposits. Facilitation by ESB of investments in shares listed on the Uganda Securities Exchange. Amount(UGX) Convert CenteMobile Banking. 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. Earn additional interest if you open this account online, in our mobile banking app or at an AutoPlus ATM. Features . Account can be liquidated any time on notice. 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. By insisting on loan recovery and cost coverage, it has reached … They offer an interest rate of up to 6% p.a. 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 . 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 … Also open to individuals maintaining deposits or investments of over 100m with the bank. Absa Bank Uganda Limited is regulated by the Bank of Uganda. Interest income will be forfeited for cash withdrawals made before maturity period. Interest income will be forfeited for cash withdrawals made before maturity period. The Cente Junior Account is an innovative children’s savings account which is operated by t . Instructions to open a fixed deposit account. Bank deposits held for a fixed term with a set interest rate in Uganda are called fixed deposits or sometimes short-term deposit accounts. 300,000/=. Your capital is guaranteed. EQUITY BANK UGANDA FIXED INTEREST RATES MINIMUM ACCOUNT OPENING BALANCE AND INTEREST RATES. @2018 - venasnews.com. 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. No problem, but a reduced interest payment would apply, depending on the completed period. 3-5 % over the deposit rate of interest applicable. 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 … Ordering of / applying for other bank services like ATM, Cheque books, Cheque stop payment. As a Sapphire Banking customer, you are automatically registered for the Sapphire Banking Club. 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. 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. Enjoy competitive and fixed interest rates of up to 12% p.a. Sitemap | Absa Bank Uganda Limited, company registration number 4227. Can be held in both local and foreign currencies. Cash withdrawals personally made to the account by holders. Designed and Developed by venasnews, Centenary Bank Uganda Fixed Deposit Account, Kanye West Hospitalized in LA after Canceling Tour. 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. Read More. 100,000 start your journey to realizing your medium to long term goal. Term deposits between 46 days to 179 … All Right Reserved. Account where a customer’s deposits are fixed for an agreed period of time subject to no withdrawals before the elapse of the period. You can rest assured that your money is safe and secure. 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 can be pledged as collateral for loans. SBI FDs between 7 days to 45 days will now help you earn 2.9%. 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. Proper identification (identity card or passport, driving permit etc), Existing customers only need a valid ID and two passport photos. Centenary bank and Dfcu will pay you 14 per cent and 11 per cent, respectively, for fixed deposits. Certificate of deposit can be used as a guarantee to apply for a loan. Our Fixed Deposits have been designed for entrepreneurs looking to invest significant funds for a specific period of time at negotiated rates. Interest income will be forfeited for cash withdrawals made before maturity period. SBI revises fixed deposit (FD) rates. *Interest rate will be dependent on market conditions. 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 … Customer deposits are protected by the Deposit Protection Fund 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. Credited to your current or savings account upon maturity. Cente Fixed Deposit Account. You will concur that Sapphire Banking is not just banking, but an experience! External links. 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. This account is designed to suit the needs of entrepreneurs who wish to accomplish a specific goal in a specific period of time. Our competitive interest rate of up to 6% p.a. on your savings 2. Funds are placed for a specific period and interest is paid on maturity of the deposit. 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. Account where a customer’s deposits are fixed for the agreed period of time subject to non-withdrawals before the elapse of the period. 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 . 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. It shows the annual rates charged for borrowing or earned through saving and fixing money in banks. Attracts a ‘minimum balance’ violation penalty. All Right Reserved. 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