THIS KEY FACTS DOCUMENT IS IMPORTANT TO YOU. IT SUMMARISES THE TRANSACTION YOU ARE CONSIDERING. PLEASE ONLY SIGN AFTER YOU HAVE READ, UNDERSTOOD AND AGREED TO THE CONTENT OF THIS DOCUMENT.

  1. TYPE OF ACCOUNT FIXED DEPOSIT ACCOUNT, CURRENCY: UGX ⃝ USD ⃝
  1. AIMS AND BENEFITS No notice required when withdrawing money, Competitive interest rates.

3.  TERMS AND CONDITIONS

a) Interest Rate: ………% per annum The interest rate is: Fixed ⃝Variable ⃝ Tiered ⃝

b) Duration: ……………months End date: ……………….

c) Interest application: Monthly ⃝ or End date ⃝

d) Minimum Balance    UGX 1,000,000 or equivalent

e) Account opening balance      ……………………………………

4.  FEES, CHARGES AND PENALTIES

  Description of standard fees Amount in UGX
a) Withdrawal fees :Over the counter (teller) N/A
b) Interest at the end of the Period As per interest rate
c) Withholding tax 15%
d) Administrative fees per month N/A
e) Below minimum balance penalty N/A
  Potential additional fees/charges  
f) ATM ISSUANCE new/replacement/expired/destroyed/lost N/A
g) Replacement of faulty ATM card N/A
h) Account closure fees 0
i) Customized statement N/A
j) Standing orders to other banks N/A
k) E-Statement 0

 Depending on how you use the account, you may be charged any of the fees above, which will be directly deducted from your account. NOTE that while the common fees, charges and penalties are listed in the table above, there may be other fees, charges and penalties – you can find information on these in our TARRIF GUIDE available in our branches and website.

5.  RISKS

  1. a) If your balance falls below the minimum balance allowed, you will have to pay penalty

6.  FURTHER POINTS TO CONSIDER

Application of funds: After expiry period, the funds will be credited back to the customer’s operational account together with the interest earned. You can fill in a new application for renewal of the fixed deposit for another period.

 

How to deposit money into your account: You can pay money into your account in any of the following ways: over the counter and through electronic transfers directly onto your account.

 

How to take money out of your account: You can take money out of your account in any of the following ways: over the counter and through electronics transfers directly off your account.

 

Inactivity/dormancy: After 24 months of inactivity, an account will be considered dormant. You will need to fill in a reactivation form to reactivate your account and a fee will apply.

 

Deposit protection: Your deposits are insured up to UGX 10 million by the Uganda Deposit Protection Fund. Please ask our staff for further details.

 

Tax implications: The current withholding tax / excise duty will be debited from your account.

 

Account closure: You may close your account at any time. To close your account you will fill in an account closure form at the nearest branch .However for a faster process you are requested to do the same at the branch where you opened your account from. If you close your account, there will be a charge for doing so and the account will be closed after 01 day. If it is a fixed deposit account, early termination may result in losing interest accrued.

 

How to complain: If you are dissatisfied with our services, we welcome you to communicate this to us to address the concern. We will acknowledge receipt of your complaint, investigate and give you an answer within two weeks maximum.

 

Future communications: It is important for us to be able to communicate with you. Below, please tick at least two preferred means of communication and provide details (and update us in case of any changes):

Mobile Phone □ Email □ Post □ Over the counter □ Other □
1 Postal address
2 Telephone contact
3 Email address

 

Signature ……………………………………. ………………………………… Date
Name …………………………………… …………………………………. Date
  Relationship officer client

 

Where can I find out more? If you want more information on this deposit product or terms used in this KFD please contact us on +256(0)414 259 651/2 or visit our website at www.housingfinance.co.ug