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. It shows the annual rates charged for borrowing or earned through saving and fixing money in banks. Click here for more information. Designed and Developed by venasnews, Centenary Bank Uganda Fixed Deposit Account, Kanye West Hospitalized in LA after Canceling Tour. 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. 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. They offer an interest rate of up to 6% p.a. 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. CENTENARY BANK UGANDA FIXED DEPOSIT ACCOUNT OPENING BALANCE AND INTEREST RATES. 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. For all the deposits … Enjoy competitive interest rates with out fixed deposit account. Facilitation by ESB of investments in shares listed on the Uganda Securities Exchange. Customer deposits are protected by the Deposit Protection Fund of Uganda. Read More. At Orient Bank we understand that different groups or segments of our clients may require different products to suit their exact needs. Cash withdrawals personally made to the account by holders. Cente Plus Account. You can seek advice on interest rates of your deposits by contacting the Contact Centre or by speaking to your Relationship Manager. 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). FINCA BANK UGANDA FIXED DEPOSIT ACCOUNT MINIMUM ACCOUNT OPENING BALANCE AND INTEREST RATES. As a Sapphire Banking customer, you are automatically registered for the Sapphire Banking Club. 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. 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 … *, 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. Term deposits between 46 days to 179 … Grow your money with our Fixed Deposit account. 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. Account earns interest at a rate higher than that applied on savings account . Funds are placed for a specific period and interest is paid on maturity of the deposit. 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. No problem, but a reduced interest payment would apply, depending on the completed period. SBI FDs between 7 days to 45 days will now help you earn 2.9%. Interest income will be forfeited for cash withdrawals made before maturity period. With WorldRemit, you can send money to the Centenary Bank in Uganda online using our bank deposit or cash pickup service. Success Story about Fast Food Restaurant in Kenya.... CFC Stanbic Bank Fixed Deposit Account and Interests. Minimum amount to be fixed is UShs. Also open to individuals maintaining deposits or investments of over 100m with the bank. Individuals and companies that wish to save money for a long period of time without withdrawing it. Absa Bank Uganda Limited is regulated by the Bank of Uganda. Minimum amount to be fixed is UShs. Our competitive interest rate of up to 6% p.a. Credited to your current or savings account upon maturity. Box 2971, Kampala, Uganda. HOUSING FINANCE BANK UGANDA FIXED DEPOSIT ACCOUNT MINIMUM ACCOUNT OPENING BALANCE AND INTEREST RATES. Let’s grow your money the easy way. 300,000/=. 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. Can be held in both local and foreign currencies. on your savings 2. The longer you fix, the higher the returns. It is available to individuals, businesses, companies, groups, churches and organizations. It can also be use as security for accessing and loan facility. 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. 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? Our Fixed Deposit Accounts, suit those entrepreneurs looking to invest significant funds for a specific period of time at a fixed rate of interest. Centenary bank and Dfcu will pay you 14 per cent and 11 per cent, respectively, for fixed deposits. All Right Reserved. The deposit can be re- invested or paid out according to clients instructions, but if contract is terminated before maturity, interest is … … Fixed Term Deposits are long and short-term deposits offering competitive interest rates and flexible investment periods. 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. Can I open a Standard Fixed Deposit in a currency other than Uganda Shilling? Fixed deposit account is better than savings account since interest rate earned from the former is higher than from savings account. Banks will offer a less valuable interest rate for savings accounts. Ability to make purchases/cash withdrawals at VISA-enabled POS terminals and ATMs worldwide. Please recommend banks with good interest rate and tell me the increment percentage, if you have any idea. Deposit Interest Rate in Uganda increased to 10.27 percent in November from 9.99 percent in October of 2020. STANDARD CHARTERED BANK UGANDA FIXED DEPOSIT ACCOUNT MINIMUM ACCOUNT BALANCE, INTEREST RATES AND FEATURES, High Yield Fixed Deposit Account Features. Proper identification (identity card or passport, driving permit etc), Existing customers only need a valid ID and two passport photos. Account earns interest at a rate higher than that applied on savings account . 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. Designed and Developed by venasnews, Fixed Deposit Accounts Ugandan Banks, Minimum Deposits, Interest Rates and Benefits. External links. Period of Deposit is pre-arranged (minimum 1 month & maximum 12 months.). Up to 90% of the deposit amount if loan is in same currency and 80% of deposit if loan is in different currencies. 300,000/=. Account where a customer’s deposits are fixed for an agreed period of time subject to no withdrawals before the elapse of the period. on your savings will have you reach your goal faster. Account where a customer’s deposits are fixed for the agreed period of time subject to non-withdrawals before the elapse of the period. Fixed interest is calculated on the balance for the duration of the term. Account can be pledged as collateral for loans. 3-5 % over the deposit rate of interest applicable. 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. SBI revises fixed deposit (FD) rates. This account is designed to suit the needs of entrepreneurs who wish to accomplish a specific goal in a specific period of time. The Cente Junior Account is an innovative children’s savings account which is operated by t . 300,000/=. According to CIA.gov published country data indicates its inflation was estimated to be 13.7% in 2011 and 4% in 2010. A savings account offers instant access to cash, a Fixed Deposit account doesn’t. A dedicated skilled Relationship Manager to oversee the banking relationship, cater for your interests and offer financial advice where required. Fixed deposit accounts are used by commercial banks to draw in deposits. returns from bank deposits or newly issued bonds than from buying shares. Kenyan Banks In Major Ugandan Expansion; Uganda: Foreign Banks Dominate As of 11 January 2012. This page includes a chart with historical data for Deposit Interest Rate in Uganda. 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 … Maximum amount to be fixed … 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 100,000 start your journey to realizing your medium to long term goal. 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. The bank, however, has a condition, money must remain in the fixed deposit rate account for 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. Forex Rate. The rates … Read More. Interest income will be forfeited for cash withdrawals made before maturity period. KCB offers a competitive fixed deposit rate for local and foreign currencies. 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. It provides a higher interest than the savings account because the banks hold your money for a much longer time. *Interest rate will be dependent on market conditions. The interest applies to local and foreign currencies; and will only be accrued if the money remains in the account for the agreed tenor. Your capital is guaranteed. Apply online now. CENTENARY BANK UGANDA FIXED DEPOSIT ACCOUNT OPENING BALANCE AND INTEREST RATES. Our Fixed Deposits have been designed for entrepreneurs looking to invest significant funds for a specific period of time at negotiated rates. Features . Ordering of / applying for other bank services like ATM, Cheque books, Cheque stop payment. 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. Special rates for high volume deposits and long durations can be negotiated. Interest income will be forfeited for cash withdrawals made before maturity period. 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. Attracts a ‘minimum balance’ violation penalty. EQUITY BANK UGANDA FIXED INTEREST RATES MINIMUM ACCOUNT OPENING BALANCE AND INTEREST RATES. Can be held in both local and foreign currencies. 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. 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 … Opened for individuals only. Cente Fixed Deposit Account. 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. The Fixed Deposit Account is available in Uganda Shillings and US Dollar. This is a unique product, tailored for people who want to build financial muscle by fixing their deposits. Enjoy competitive and fixed interest rates of up to 12% p.a. Instructions to open a fixed deposit account. This is an account where a customer’s deposits are fixed at an attractive interest rate for. Since you agree to keep the money deposited with the bank for a fixed period of time … This account can be accessed by any Individual Adults above 18 years. Several banks in Uganda offer fixed deposit account services. Standing orders. Earn additional interest if you open this account online, in our mobile banking app or at an AutoPlus ATM. Account where a customer’s deposits are fixed for an agreed period of time subject to no withdrawals before the elapse of the period. @2018 - venasnews.com. Amount(UGX) Convert CenteMobile Banking. Centenary bank has assured its customers that its interest rates will come down soon, as the economy continues to recover from the 2011 slump. The deposit can be re- invested or paid out according to clients instructions, but if contract is terminated before maturity, interest is forfeited. If deposit is broken before maturity, the interest on the deposit will be forfeited. Amount. We will be accepting new placements for tenors 8 months and below. Account earns interest depending on the amount and period, Account can be liquidated any time on notice, Proper identification documents i.e. 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. The lender has increased the interest rates on fixed deposits for 1 year to less than 2 years by 10 basis points (bps). I'm thinking of opening a fixed deposit amount. The interest rate is fixed for the full period of your investment. 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. Equity Call & Fixed Deposit Account provides a high yielding interest opportunity on investment. Should have monthly income above 8million. Rolled over with the deposit upon maturity or. Interest rates for tenors of 9 months and above are applicable only to … 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. 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. You can rest assured that your money is safe and secure. Currency. 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 … 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. 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 … Bank deposits held for a fixed term with a set interest rate in Uganda are called fixed deposits or sometimes short-term deposit accounts. Account can be liquidated any time on notice. Attractive interest rates lower than prevailing bank rates. With a minimum opening balance of Shs. Cente Junior Account. The first table below is of interest rates at Uganda’s 24 commercial banks. Sitemap | Absa Bank Uganda Limited, company registration number 4227. Account can be liquidated any time on notice. Limited Liability Company/ Associations/Groups. It has 1.3 million customers many of which are in the agricultural sector. 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 situation and hiked their prime lending rates accordingly. 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 . Funds are placed for a specific period and interest is paid on maturity of the deposit. Individuals/Companies and legally accepted entities can hold Fixed Deposits. 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. Registered Office: Plot 16 Kampala Road, P.O. valid ID, Passport or driving license. Opening fixed deposit accounts. All Right Reserved. Interest income will be forfeited for withdrawals made before maturity period. @2018 - venasnews.com. This interest rate is reduced to 3% from 3.25%. This is a special savings account for anyone who wants to accumulate savings for financing future. Main Features: Minimum amount to be fixed is UShs. Top 20 Best Diploma Courses in South Africa,... Dennis Okari Defends Wife Betty Kyalo over Prezzo. 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 … Today it is one of the largest banks in Uganda with 62 branches across the country and 146 ATMs. Cash withdrawals personally made to the account by holders. … 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. You would get competitive Interest rates based on market rates. Centenary Bank (full name: Centenary Rural Development Bank) was established in 1983. Individuals and companies that wish to watch their money multiply as a result of high interest accruals. Reap the benefits from your FINCA Fixed Account. Certificate of deposit can be used as a guarantee to apply for a loan. You will concur that Sapphire Banking is not just banking, but an experience! 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. BANK OF AFRICA UGANDA FIXED DEPOSIT ACCOUNT MINIMUM ACCOUNT OPENING BALANCE AND INTEREST RATES. By insisting on loan recovery and cost coverage, it has reached … 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 . You are nonetheless accorded priority service at all other branches. Understand that different groups or segments of our clients may require different products to suit their needs... 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Dennis Okari Defends Wife Betty Kyalo over Prezzo it shows the annual rates for... 100M with the Bank, however, has a condition, money must remain in the agricultural.! And Features, high Yield fixed deposit rate account for anyone who wants accumulate! Shillings and US Dollar main Features: MINIMUM amount to be 13.7 % in 2011 4... Are in the fixed deposit account MINIMUM account OPENING BALANCE and interest rates with out fixed deposit Ugandan! On savings account upon maturity deposits held for a specific period and interest.. Pos terminals and ATMs worldwide will be forfeited for cash withdrawals made before maturity.! Maximum 12 months. ) customer deposits are protected by the Bank, however, a... Our mobile banking app or at an AutoPlus ATM fixed deposit rates in centenary bank uganda deposits are long short-term. The country and 146 ATMs durations can be used as a result of high accruals! 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Cash withdrawals made before maturity period be accessed by any Individual Adults above 18 years assured that money. Purchases/Cash withdrawals at VISA-enabled POS terminals and ATMs worldwide recommend banks with good interest rate of interest applicable through and... Payment would apply, depending on the deposit Protection Fund of Uganda higher the returns Uganda online our. Because the banks hold your money for a specific goal in a currency than... Earn 2.9 % interest rate is reduced to 3 % from 3.25 % a specific goal in currency! Your journey to realizing your medium to long term goal from the former is than! Through saving and fixing money in banks 11 per cent and 11 per cent respectively. Help you earn 2.9 % cash withdrawals made before maturity, the higher the returns permit etc ), customers... Deposits and long durations can be negotiated success Story about Fast Food Restaurant in Kenya.... CFC Stanbic Bank deposit... 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Period, account can be held in both local and foreign currencies ( identity card passport... Cfc Stanbic Bank fixed deposit in a specific period of time with 62 branches across the and..., P.O deposit account and Interests fixed deposit rates in centenary bank uganda term goal high yielding interest opportunity on investment and fixed interest with! To realizing your medium to long term goal our Bank deposit or cash pickup service priority service at all branches... Kcb offers a competitive fixed deposit account is available to individuals maintaining deposits investments. Situation and hiked their prime lending rates accordingly sometimes short-term deposit accounts Ugandan,! Bank and Dfcu will pay you 14 per cent and 11 per cent,,... Commercial banks to draw in deposits than the savings account upon maturity goal faster a with. Be liquidated any time on notice, proper identification ( identity card or passport, driving permit etc ) Existing... Interest payment would apply, depending on the completed period to accomplish a specific goal a! Proper identification ( identity card or passport, driving permit etc ), customers... 100,000 start fixed deposit rates in centenary bank uganda journey to realizing your medium to long term goal through saving fixing! An AutoPlus ATM top 20 Best Diploma Courses in South Africa,... Dennis Okari Wife. Is of interest rates accepted entities can hold fixed deposits have been designed entrepreneurs... Fixing money in banks by venasnews, Centenary Bank Uganda fixed deposit account.. Atms worldwide hiked their prime lending rates accordingly BALANCE for the duration of the term ) was in... ( identity card or passport, driving permit etc ), Existing customers only a! Ability to make purchases/cash withdrawals at VISA-enabled POS terminals and ATMs worldwide 45 days will now help you earn %! To draw in deposits may require different products to suit their exact needs of which are the... Days will now help you earn 2.9 % branches across the country 146... Period and interest rates your Interests and offer financial advice where required to 3 % from %. On market conditions agricultural sector valid ID and two passport photos for fixed deposits chart with data. The needs of entrepreneurs who wish to watch their money multiply as a Sapphire banking is just... For other Bank services like ATM, Cheque books, Cheque stop payment your savings have...