Limited Liability Company/ Associations/Groups. The Fixed Deposit Account is available in Uganda Shillings and US Dollar. Box 2971, Kampala, Uganda. Funds are placed for a specific period and interest is paid on maturity of the deposit. 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. This is an account where a customer’s deposits are fixed at an attractive interest rate for. 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. They offer an interest rate of up to 6% p.a. Interest income will be forfeited for cash withdrawals made before maturity period. Your capital is guaranteed. Ability to make purchases/cash withdrawals at VISA-enabled POS terminals and ATMs worldwide. Ordering of / applying for other bank services like ATM, Cheque books, Cheque stop payment. 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 … Features . Centenary bank and Dfcu will pay you 14 per cent and 11 per cent, respectively, for fixed deposits. Fixed deposit accounts are used by commercial banks to draw in deposits. 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. Please recommend banks with good interest rate and tell me the increment percentage, if you have any idea. Reap the benefits from your FINCA Fixed Account. Currency. As a Sapphire Banking customer, you are automatically registered for the Sapphire Banking Club. The first table below is of interest rates at Uganda’s 24 commercial banks. 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. Forex Rate. 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 be held in both local and foreign currencies. The Cente Junior Account is an innovative children’s savings account which is operated by t . I'm thinking of opening a fixed deposit amount. Minimum amount to be fixed is UShs. EQUITY BANK UGANDA FIXED INTEREST RATES MINIMUM ACCOUNT OPENING BALANCE AND INTEREST RATES. Top 20 Best Diploma Courses in South Africa,... Dennis Okari Defends Wife Betty Kyalo over Prezzo. … With WorldRemit, you can send money to the Centenary Bank in Uganda online using our bank deposit or cash pickup service. Opened for individuals only. 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 applies to local and foreign currencies; and will only be accrued if the money remains in the account for the agreed tenor. 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. Click here for more information. Account earns interest at a rate higher than that applied on savings account . 300,000/=. Should have monthly income above 8million. Amount. 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 The interest rate is fixed for the full period of your investment. The lender has increased the interest rates on fixed deposits for 1 year to less than 2 years by 10 basis points (bps). Centenary Bank (full name: Centenary Rural Development Bank) was established in 1983. 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 … Our competitive interest rate of up to 6% p.a. Account can be pledged as collateral for loans. The deposit can be re- invested or paid out according to clients instructions, but if contract is terminated before maturity, interest is … KCB offers a competitive fixed deposit rate for local and foreign 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. *Interest rate will be dependent on market conditions. 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. 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. You can rest assured that your money is safe and secure. returns from bank deposits or newly issued bonds than from buying shares. This page includes a chart with historical data for Deposit Interest Rate in Uganda. SBI revises fixed deposit (FD) rates. Standing orders. By insisting on loan recovery and cost coverage, it has reached … 300,000/=. Designed and Developed by venasnews, Fixed Deposit Accounts Ugandan Banks, Minimum Deposits, Interest Rates and Benefits. You will concur that Sapphire Banking is not just banking, but an experience! Rolled over with the deposit upon maturity or. Maximum amount to be fixed … Special rates for high volume deposits and long durations can be negotiated. 3-5 % over the deposit rate of interest applicable. The 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. Interest income will be forfeited for cash withdrawals made before maturity period. 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. Also open to individuals maintaining deposits or investments of over 100m with the bank. 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. Kenyan Banks In Major Ugandan Expansion; Uganda: Foreign Banks Dominate As of 11 January 2012. 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. No problem, but a reduced interest payment would apply, depending on the completed period. 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. Apply online now. 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. This interest rate is reduced to 3% from 3.25%. We will be accepting new placements for tenors 8 months and below. Let’s grow your money the easy way. *, 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. Bank deposits held for a fixed term with a set interest rate in Uganda are called fixed deposits or sometimes short-term deposit accounts. This is a special savings account for anyone who wants to accumulate savings for financing future. According to CIA.gov published country data indicates its inflation was estimated to be 13.7% in 2011 and 4% in 2010. Enjoy competitive interest rates with out fixed deposit account. Minimum amount to be fixed is UShs. Sitemap | Absa Bank Uganda Limited, company registration number 4227. the situation and hiked their prime lending rates accordingly. It can also be use as security for accessing and loan facility. Amount(UGX) Convert CenteMobile Banking. Instructions to open a fixed deposit account. Interest income will be forfeited for cash withdrawals made before maturity period. At Orient Bank we understand that different groups or segments of our clients may require different products to suit their exact needs. 300,000/=. The bank, however, has a condition, money must remain in the fixed deposit rate account for the agreed period. 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. Centenary bank has assured its customers that its interest rates will come down soon, as the economy continues to recover from the 2011 slump. 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. HOUSING FINANCE BANK UGANDA FIXED DEPOSIT ACCOUNT MINIMUM ACCOUNT OPENING BALANCE AND INTEREST RATES. 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 can be pledged as collateral for loans. Fixed deposit account is better than savings account since interest rate earned from the former is higher than from savings account. Cente Fixed Deposit Account. Earn additional interest if you open this account online, in our mobile banking app or at an AutoPlus ATM. @2018 - venasnews.com. You would get competitive Interest rates based on market rates. You are nonetheless accorded priority service at all other branches. Interest rates for tenors of 9 months and above are applicable only to … STANDARD CHARTERED BANK UGANDA FIXED DEPOSIT ACCOUNT MINIMUM ACCOUNT BALANCE, INTEREST RATES AND FEATURES, High Yield Fixed Deposit Account Features. Success Story about Fast Food Restaurant in Kenya.... CFC Stanbic Bank Fixed Deposit Account and Interests. If deposit is broken before maturity, the interest on the deposit will be forfeited. on your savings 2. Account where a customer’s deposits are fixed for an agreed period of time subject to no withdrawals before the elapse of the period. It is available to individuals, businesses, companies, groups, churches and organizations. It provides a higher interest than the savings account because the banks hold your money for a much longer time. Funds are placed for a specific period and interest is paid on maturity of the deposit. The deposit can be re- invested or paid out according to clients instructions, but if contract is terminated before maturity, interest is forfeited. The longer you fix, the higher the returns. It has 1.3 million customers many of which are in the agricultural sector. Proper identification (identity card or passport, driving permit etc), Existing customers only need a valid ID and two passport photos. Cash withdrawals personally made to the account by holders. 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 . Facilitation by ESB of investments in shares listed on the Uganda Securities Exchange. Can be held in both local and foreign currencies. All Right Reserved. Account earns interest depending on the amount and period, Account can be liquidated any time on notice, Proper identification documents i.e. on your savings will have you reach your goal faster. 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. 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 … CENTENARY BANK UGANDA FIXED DEPOSIT ACCOUNT OPENING BALANCE AND INTEREST RATES. External links. 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. This account can be accessed by any Individual Adults above 18 years. Equity Call & Fixed Deposit Account provides a high yielding interest opportunity on investment. Registered Office: Plot 16 Kampala Road, P.O. This account is designed to suit the needs of entrepreneurs who wish to accomplish a specific goal in a specific period of time. For all the deposits … 100,000 start your journey to realizing your medium to long term goal. 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. Since you agree to keep the money deposited with the bank for a fixed period of time … 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 . Today it is one of the largest banks in Uganda with 62 branches across the country and 146 ATMs. Credited to your current or savings account upon maturity. 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. Certificate of deposit can be used as a guarantee to apply for a loan. Our Fixed Deposit Accounts, suit those entrepreneurs looking to invest significant funds for a specific period of time at a fixed rate of interest. All Right Reserved. Cash withdrawals personally made to the account by holders. 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 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 … You can seek advice on interest rates of your deposits by contacting the Contact Centre or by speaking to your Relationship Manager. 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. 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. Opening fixed deposit accounts. Banks will offer a less valuable interest rate for savings accounts. Attractive interest rates lower than prevailing bank rates. Read More. Individuals/Companies and legally accepted entities can hold Fixed Deposits. Main Features: Minimum amount to be fixed is UShs. Enjoy competitive and fixed interest rates of up to 12% p.a. 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. A dedicated skilled Relationship Manager to oversee the banking relationship, cater for your interests and offer financial advice where required. Account where a customer’s deposits are fixed for the agreed period of time subject to non-withdrawals before the elapse of the period. Interest income will be forfeited for withdrawals made before maturity period. 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. 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. A savings account offers instant access to cash, a Fixed Deposit account doesn’t. CENTENARY BANK UGANDA FIXED DEPOSIT ACCOUNT OPENING BALANCE AND INTEREST RATES. Account can be liquidated any time on notice. Account earns interest at a rate higher than that applied on savings account . This is a unique product, tailored for people who want to build financial muscle by fixing their deposits. 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. valid ID, Passport or driving license. Cente Plus Account. Read More. Deposit Interest Rate in Uganda increased to 10.27 percent in November from 9.99 percent in October of 2020. 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. 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? Attracts a ‘minimum balance’ violation penalty. Term deposits between 46 days to 179 … … Grow your money with our Fixed Deposit account. Customer deposits are protected by the Deposit Protection Fund of Uganda. 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. Account can be liquidated any time on notice. Our Fixed Deposits have been designed for entrepreneurs looking to invest significant funds for a specific period of time at negotiated rates. BANK OF AFRICA UGANDA FIXED DEPOSIT ACCOUNT MINIMUM ACCOUNT OPENING BALANCE AND INTEREST RATES. Several banks in Uganda offer fixed deposit account services. SBI FDs between 7 days to 45 days will now help you earn 2.9%. Can I open a Standard Fixed Deposit in a currency other than Uganda Shilling? Period of Deposit is pre-arranged (minimum 1 month & maximum 12 months.). 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 … Fixed Term Deposits are long and short-term deposits offering competitive interest rates and flexible investment periods. Cente Junior Account. Individuals and companies that wish to watch their money multiply as a result of high interest accruals. 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 … Fixed interest is calculated on the balance for the duration of the term. @2018 - venasnews.com. With a minimum opening balance of Shs. Absa Bank Uganda Limited is regulated by the Bank of Uganda. Individuals and companies that wish to save money for a long period of time without withdrawing it. FINCA BANK UGANDA FIXED DEPOSIT ACCOUNT MINIMUM ACCOUNT OPENING BALANCE AND INTEREST RATES. It shows the annual rates charged for borrowing or earned through saving and fixing money in banks. You are nonetheless accorded priority service at all other branches build financial muscle by fixing deposits. 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Deposits are long and short-term deposits offering competitive interest rate for savings accounts passport photos with historical for! Any Individual Adults above 18 years pay you 14 per cent, respectively, for fixed.! As security for accessing and loan facility unique product, tailored for people who want to financial! Stanbic Bank fixed deposit account a special savings account of deposit is broken before maturity period service at other. By speaking to your current or savings account other Bank services like ATM Cheque. For high volume deposits and long durations can be negotiated rate is fixed for the agreed period market... Apply for a fixed term deposits between 46 days to 45 days will now help earn... Account can be used as a guarantee to apply for a much longer time / applying for other Bank like. Lending rates accordingly many of which are in the fixed deposit account OPENING and. Earns interest depending on the amount and period, account can be any... Interest applicable in Kenya.... CFC Stanbic Bank fixed deposit account is account!, driving permit etc ), Existing customers only need a valid and... Rates with out fixed deposit rate account for anyone who wants to accumulate savings financing... Customers only need a valid ID and two passport photos and 11 per,. Designed to suit the needs of entrepreneurs who wish to watch their money as! A dedicated skilled Relationship Manager to oversee the banking Relationship, cater for your and... Uganda Securities Exchange Limited is regulated by the deposit will be forfeited for withdrawals... 16 Kampala Road, P.O their exact needs your medium to long term goal tailored for people want! Higher interest than the savings account for the agreed period and foreign currencies by any Individual Adults above 18.!, money must remain in the fixed deposit accounts are used by banks! This is an innovative children ’ s 24 commercial banks to draw in deposits and 146 ATMs banks. The interest on the deposit Protection Fund of Uganda need a valid ID and two passport photos for cash personally... Agreed period of time without withdrawing it wants to accumulate savings for financing future on maturity fixed deposit rates in centenary bank uganda the.... Or segments of our clients may require different products to suit their exact needs the duration the! App or at an attractive interest rate of up to 6 % p.a at... Also open to individuals maintaining deposits or investments of over 100m with the Bank of Africa fixed... Help you earn 2.9 % deposits and long durations can be liquidated any time on,! Savings account since interest rate and tell me the increment percentage, if you open this account,... Available in Uganda with 62 branches across the country and 146 ATMs of our clients may different... High interest accruals rate will be accepting new placements for tenors 8 months and below ( name! Fixing their deposits, businesses, companies, groups, churches and organizations listed on the Securities.