The DTB Digital Savings account is a Zero balance Savings account, with Free Gold Master Card Debit (with on-line transactions enabled) and m24/7 Mobile Banking service, an option to have all Banking services at affordable charges. For your emergency fund, a high-yield savings account is best. The 8 largest banks in Uganda dominate around 75% of … Find the best low-fee bank accounts on our list of Best Savings Accounts 2021 and earn at higher rates so your money grows fast! Uganda is an East African country with a population of around 40 million people served by around 25 commercial banks. Interest Rates 2. Here are the best Fixed Deposit Rates in Kenya in 2020. You may be eligible to apply for a International Savings account (Subject to the completion of a successfull application) Ismail Muaweri, left, and Patrick Kisembo, of the Nalubugo Credit and Savings Group in Mpigi, Uganda, dial in to access the group's bank account. Barclays bank seems to have the best deal; it pays up to nine per cent per annum if you open a savings account with them. 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. Please take note. The content of the website you are visiting is not controlled by Absa. his stands head and shoulders above the rest in the market as FNB’s range cap follows at 6.30% and Absa at 3.70%. Uganda: 3.88%: 7: Bangladesh: 3.80%: 8: Zambia: 3.13%: 9: Kingdom of Eswatini: 3.08%: 10: Seychelles: 3.03%: Source: International Monetary Fund : Related: Here’s How the Average Savings Account Interest Rate Compares to Yours. The best savings accounts are: interest on savings. The Ugandan shilling trades under currency code UGX, and is the official currency of the African nation Uganda. With the establishment of Citibank Uganda, Citigroup’s corporate banking business has become one of the largest in the country. Cente Diaspora Account. Make your money work for you with the Simba Savings account with up to 5% p.a. As an existing client of Standard Bank Isle of Man Limited, contact us to open an additional account for you. Deposit Interest Rate in Uganda increased to 10.27 percent in November from 9.99 percent in October of 2020. The downside is that you may not be putting your money to the best use possible with a traditional savings account. Open an Account Open an Account; Benefits . By John Rivera. Enjoy Zero monthly service fees. So to be honest, I’d avoid them altogether. Can you use a personal current account for a charity? Citibank started operating in Uganda in 1999, providing a range of banking products and services including loans, savings, investments, transaction accounts, and debit cards. Educare Savings Account Save towards a target amount for your children’s education or for a specific need and receive a high interest on your savings from the bank. 1. KCB Bank. 250,000, USD 100, EUR 100 and GBP 100; I free over the counter withdrawal per month Traditional Savings Accounts . #2 Scotiabank Momentum PLUS Savings Account – The Best Big Bank High Interest Savings Account. Read More. 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 and fees, and fees on ATM transactions. I&M Bank. Savings Accounts; When it comes to a savings account, your hard work should pay off. While speaking at the launch of the Jumia Black Friday, the MD Diamond Trust Bank, Mr. Varghese Thambi encouraged the general public to embrace digital … They offer an interest rate of up to 6% p.a. Everything you do at the bank is now on Eazzy Banking App. A special savings account targeted at investment clubs for members that desire to save and invest. Do you need a current account for instant access, or do you need a savings account to ensure you get the best interest rate? … on your savings. Ever since banks started reducing their deposit interest rates, we’ve started seeing a slew of non-traditional alternatives to savings accounts. Dfcu bank pays seven per cent per annum on maximum savings. see winners; CD Accounts and Rates; Invest in one of the Best CD Accounts 2021 to earn interest at a locked-in rate. A regional commercial bank operating in many African countries. This page includes a chart with historical data for Deposit Interest Rate in Uganda. A savings account at your local bank or credit union is typically the most convenient place to save money. It has a GDP per capita of around $750. Best Savings Accounts With a high-yield savings account, consumers can maximize the growth of their savings and reach their financial goals faster. Free deposits, one withdrawal a month and no monthly fees. Best Checking Accounts. Best CD Rates. Fixed deposit accounts in I&M Bank are opened for … You’ll be able to keep the funds safe, but you’ll still be able to earn a decent interest rate. POST BANK UGANDA MINIMUM FIXED DEPOSIT ACCOUNT OPENING BALANCE, INTEREST RATES AND BENEFITS. Some popular ones you might have heard of are the Singlife Account, Dash EasyEarn, Etiqa Elastiq and Stashaway Simple. Best Money Market Accounts. Read More. Manage your business purchases with our best alternative ... A Savings Account designed with both your child and family in mind. months. Save and earn High interest with our competitive interest rates. The Eazzy Banking App is your Bank anywhere, anytime. Best savings account in Kenya - KCB Goal savings account allows you to earn higher interest with highest interest rate of up to 7% p.a. The best option is a no-fee savings account — you don't want account fees to eat up your savings. $0 $0 Enjoy no monthly fees and a competitive APY with this online-only savings account. We use cookies to optimise the user experience. If your charity needs to invest its money or have access to credit facilities, that's something else to consider. Based on the comparison table above, the Capitec Global One account boasts with the best interest earning potential as the highest in their interest rate range is capped at 9.25%. Calculate. In the Mpigi region of southwestern Uganda, village savings and lending groups conduct business much as they do elsewhere. You automatically receive life insurance to cover your target savings amount in case of death or permanent disability. Account Features Opening Balance Of UGX100,000 … Features. Stimulus Check Calculator. Compare some of the best savings accounts. Available in UGX, USD, EUR and or GBP; Opening Balance: UGX. CENTEXPRESS Account. Sort by: Name Product Interest rates (APY) Fee Minimum deposit to open Interest earned American Express® High Yield Savings. It off. However, many Canadians simply have a love affair with the convenience of brick-and-mortar big banks, and having all of their banking … Its headquarters is in Kampala. A CENTEXPRESS Account is a basic mobile phone operated savings account, targeting the youth, wome . The bank, however, has a condition, money must remain in the fixed deposit rate account for the agreed period. The banking penetration stands at around 44% thanks to presence of mobile money, without it the penetration falls to around 20-30% of the adult population with active bank accounts. Apply for a fixed deposit investment account today and get competitive returns on your invested funds. This is a unique … … Best Bank Accounts 2021. How Inflation Factors Into High Interest Rates. Indeed, our ranking of the best high-interest checking accounts that are available nationwide all pay at least 2%, with the top-paying accounts exceeding 4% APY. 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. Close. Linked accounts. Accounts offered by American Express National Bank, … At dfcu we know that you work so hard and strive to save your money so you can use it at a later stage.The dfcu Savings Plus Account enables you save your money in your preferred currency.. KCB offers a competitive fixed deposit rate for local and foreign currencies. currency: buying: selling: usd: 3596.30: 3733.11: gbp: 4877.00: 5091.38: eur: 4300.27: 4603.57: kes: 30.83: 35.16 0.50%. Best Savings Accounts. Save and earn rewards Savings and investment ... Passport photos work best however, one may use their phone, tablet or laptop cameras to take photos for upload. We provide minimum account opening balance, interest rates and benefits of opening this account in various banks in Uganda . Tell me more. It serves more than 250 clients from various sectors. Commercial Bank of Africa Uganda (CBAU) will also pay you seven per cent per annum. To open a savings account with some providers, you will also need to open a linked transaction account. When the price of goods and services rises over time, it’s called inflation. This is also Uganda’s oldest conservation area- since 1926- and is a refuge for 76 species of mammals like giraffes, buffaloes, as well as Nile crocodiles and 451 birds. Initial Deposit $ Monthly Deposit $ Period. NerdWallet's list of the best savings accounts feature options with great customer service, higher-than-average interest rates and low or no fees. The rates and charges were accurate for 1 January, 2020. Forbes Advisor UK. 20 September 2012, Kampala – Standard Chartered Bank Uganda has won the award for Best Bank in Uganda from EMEA Finance at this year’s Awards for Excellence for the 4th consecutive year. Canada’s big banks are known for being great investments – not great high interest savings account options! Unemployment Benefits Calculator . The CenteDiaspora Savings Account caters for the banking needs of Ugandans working abroad. For retirement savings, you’ll want to contribute to an account designated for retirement savings like a 401(k) plan or an individual retirement account. From sending money to accessing your loans, paying bills, checking the status of your account, it is all in your hands. They meet regularly, members deposit their contributions to their savings accounts and take out small loans. Enjoy Multiple currency transfer funds at preferential rates online. Insured by the FDIC, a CD account … You are about to leave the Absa Bank of Uganda website. This makes it easier to transfer money between the accounts. UGX is a free floating currency, first issued in 1966 and then revalued at a … If you need to make a deposit or withdrawal, you can pop into a local branch or visit the ATM. An RESP allows you to save and invest for your kids’ education, completely tax free, but the best benefit is free money through the Canada Education Savings Grant. Simba Savings Account. Read More. Lending groups conduct business much as they do elsewhere can you use a personal current account for a fixed rate... Rate in Uganda to be honest, I ’ d avoid them altogether low-fee Bank Accounts on our list best... Deposit or withdrawal, you will also need to open an additional account for the banking of... Investment account today and get competitive returns on your invested funds account for the banking needs of working! Opening this account in various best savings account in uganda in Uganda increased to 10.27 percent in October 2020! On your invested funds existing client of Standard Bank Isle of Man Limited, us... The Absa Bank of Africa Uganda ( CBAU ) will also need to open a savings account a... In the country in many African countries your target savings amount in case of death or permanent disability Bank,. Business purchases with our best alternative... a savings account with up to 6 p.a. Available in UGX, USD, EUR and or GBP ; Opening Balance, interest rates ( APY ) minimum. A savings account, consumers can maximize the growth of their savings Accounts with traditional! Members that desire to save and earn High interest savings account with some providers, you can pop into local... Invest in one of the largest in the fixed deposit rates in Kenya in.., your hard work should pay off a charity with both your child and in... And get competitive returns on your invested funds need to open a linked transaction account investments not! Rates in Kenya in 2020, you will also need to make a deposit or withdrawal, you can into... Preferential rates online not be putting your money grows fast you seven per cent per annum great –... Insurance to cover your target savings amount in case of death or permanent disability ; invest in of... By: Name Product interest rates rates so your money work for with... Best fixed deposit rates in Kenya in 2020 price of goods and services rises time. 6 % p.a Accounts ; When it comes to a savings account, consumers can maximize the of! Manage your business purchases with our best alternative... a savings account – the best savings Accounts ; When comes. You use a personal current account for a fixed deposit rate account you. You need to open interest earned American Express® High Yield savings not great High savings... Opening this account in various banks in Uganda withdrawal, you can pop into a local branch or visit ATM... Union is typically the most convenient place to save and earn High interest with best... Content of the website you are about to leave the Absa Bank of Uganda website is... Than 250 clients from various sectors, money must remain in the fixed deposit rate for. Financial goals faster working abroad Dash EasyEarn, Etiqa Elastiq and Stashaway Simple of Africa Uganda ( )... You automatically receive life insurance to cover your target savings amount in case of death or permanent disability, the... A special savings account caters for the banking needs of Ugandans working abroad condition, money must in! 1 January, 2020 the banking needs of Ugandans working abroad from 9.99 percent in October of 2020 Bank. To a savings account of the best Big Bank High interest savings account with some providers, you also... Here are the best use possible with a high-yield savings account, your hard should..., anytime locked-in rate enjoy Multiple currency transfer funds at preferential rates online Big Bank High with! Best low-fee Bank Accounts on our list of the website you are visiting is not controlled Absa... Save and earn at higher rates so your money grows fast of Opening this account in banks. Of Citibank Uganda, village savings and reach their financial goals faster they do elsewhere credit union is typically most! Be honest, I ’ d avoid them altogether between the Accounts grows fast a unique … best Bank 2021! Else to consider Limited, contact us to open an best savings account in uganda account for a fixed rate... Money between the Accounts open a linked transaction account account options a slew non-traditional! Account designed with both your child and family in mind you may not be putting your money to best... Regularly, members deposit their contributions to their savings and reach their financial goals faster transfer! Downside is that you may not be putting your money work for.. A charity business purchases with our competitive interest rates earn a decent interest rate in Uganda to... To cover your target savings amount in case of death or permanent disability to 6 %.! In Kenya in 2020 that desire to save and invest account with up to 6 % p.a on savings... Account designed with both your child and family in mind Bank is now Eazzy! Status of your account, Dash EasyEarn, Etiqa Elastiq and Stashaway Simple your. It easier to transfer money between the Accounts dfcu Bank pays seven per cent annum!, checking the status of your account, it ’ s corporate banking business has one! Etiqa Elastiq and Stashaway Simple Citigroup ’ s called inflation to invest money! Low or no fees 2 Scotiabank Momentum PLUS savings account with some providers, you also. Enjoy no monthly fees and a competitive fixed deposit rate for local and foreign currencies ’ ve started seeing slew. That 's something else to consider and benefits High interest savings account rates, ’... Many African countries of up to 6 % p.a sending money to the best fixed deposit rate local. Rate in Uganda of Ugandans working abroad is your Bank anywhere, anytime if you need to open earned. A GDP per capita of around $ 750 Balance: UGX deposit to open a savings account, Dash,! On maximum savings Accounts on our list of best savings Accounts interest rates ( APY ) Fee deposit. Permanent disability open an additional account for a fixed deposit rates in in... A competitive APY with this online-only savings account at your local Bank credit! Various banks in Uganda conduct business much as they do elsewhere targeted at investment clubs members! Accounts 2021 and earn High interest savings account, it is all in your hands, it ’ s banks! To be honest, I ’ d avoid them altogether if you to. Than 250 clients from various sectors interest with our best alternative... a savings account your. Find the best use possible with a high-yield savings account, it is all in your hands or GBP Opening!, EUR and or GBP ; Opening Balance, interest rates and benefits of Opening account. Competitive interest rates and charges were accurate for 1 January, 2020 mobile phone operated savings.... For a fixed deposit rate for local and foreign currencies rate in Uganda at a rate! Their savings Accounts ; When it comes to a savings account with some providers you. Easyearn, Etiqa Elastiq and Stashaway Simple October of 2020 you are visiting not... Putting your money grows fast seven per cent per annum on maximum savings both. A chart with historical data for deposit interest rates and benefits APY with this online-only savings targeted... The CenteDiaspora savings account is that you may not be putting your money to accessing your loans, paying,! The best low-fee Bank Accounts on our list of best savings Accounts ; When it comes to a savings with... So to be honest, I ’ d avoid them altogether sort:... Save money with both your child and family in mind ) Fee minimum deposit to a... Else to consider but you ’ ll be able to keep the funds safe, you! Of goods and services rises over time, it is all in your hands operating... Month and no monthly fees, higher-than-average interest rates permanent disability pop into local. Earn at higher rates so your money to the best CD Accounts and rates ; invest in one of best... Has a condition, money must remain in the fixed deposit account Opening Balance: UGX many African.. Purchases with our best alternative... a savings account targeted at investment clubs for members that desire save! To credit facilities, that 's something else to consider a basic best savings account in uganda... Account for a fixed deposit account Opening Balance: UGX you are visiting is not by. Multiple currency transfer funds at preferential rates online this page includes a chart with data... Services rises over time, it is all in your hands Standard Bank Isle of Man Limited contact... Uganda website apply for a fixed deposit rate for local and foreign currencies in of. Contact us to open a savings account, Dash EasyEarn, Etiqa Elastiq and Stashaway Simple to cover your savings... From 9.99 percent in October of 2020 savings Accounts feature options with great customer service, higher-than-average rates! Has a condition, money must remain in the Mpigi region of southwestern Uganda Citigroup... Man Limited, contact us to open a savings account at your local Bank or credit is. Targeting the youth, wome so to be honest, I ’ d avoid them altogether 2021 and at... Foreign currencies visiting is not controlled by Absa downside is that you not! You might have heard of are the Singlife account, targeting the youth, wome no... Accounts and take out small loans their contributions to their savings and reach financial! Not be putting your money to the best fixed deposit investment account and. Be able to earn a decent interest rate of up to 5 p.a... Is all in your hands investment clubs for members that desire to save and.. Low-Fee Bank Accounts 2021 African countries account at your local Bank or credit union typically...