Product Features

• Opening deposit of UShs 50,000.

• Minimum balance is UShs 50,000.

• Standing order charge of UShs. 3,000.

• No regular account maintenance fees.

• Customer free to fully withdraw on reaching the agreed amount on account.

• Option to withdraw half of the amount on account once during the savings contract period.

• No ATM card issued.

• Monthly commitment for standing orders or cash deposits into the account can be arranged.

• Instant transaction alerts for transactions.

Benefits

• Competitive interest rate of 5% p.a.
• Helps the customer to finance productive assets or investment through savings entirely or alongside some borrowing.
• Customer can get a loan equivalent to 100% of the amount on account to pay for the desired asset/ investment.
• Interest paid on monthly basis.
• Account can be pledged as collateral for loans.
• Account balance can be topped up through making cumulative deposits regularly.
• Access to a variety of bank products like CenteMobile and Online banking.
• Permits deposit by way of cash, wire, cheques, and any acceptable means of deposit.
• One free account statement issued monthly on request.