Term Deposits.

These are interest bearing deposit accounts on which interest payment may or may not be subjected to maturity periods.

These are interest bearing deposit accounts on which interest payment may or may not be subjected to maturity periods.

There are two types of term deposits.

Funds are placed/ deposited with definite maturity date. Client gives notice before withdrawing the deposits and doesn't forfeit the interest. On receipt of the instruction, interest is calculated and paid out, less 15% withholding tax.

Features and Benefits of Call Deposits

  • Funds are placed/ deposited without a definite maturity date
  • A notice of at least two days is required before withdrawing the deposit
  • On receipt of the instruction, interest is calculated and paid out less 25% withholding tax
  • Competitive interest rates
  • Full interest is paid if withdrawal is preceded by a 2 day notice
  • Account provides the motivation for you to save

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. It can also be use as security for accessing and loan facility.

Features and Benefits of Fixed Deposits

  • 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
  • There are no charges on the account
  • Funds in your fixed deposit account can be used to secure loans and overdrafts
  • Funds maybe budgeted for future use
Apply for Term Deposits Now!