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 INVESTMENT CLUB SAVINGS ACCOUNT (UGX)
  2. AIMS AND BENEFITS No limit on number of withdraws, No notice required when withdrawing money.
  3. TERMS AND CONDITIONS
a) Interest to be earned: Tiered between  3% – 7%% per annum The interest rate is: Fixed⃝ Variable ⃝ Tiered ⃝
b) Duration: Unlimited End date: Open
c) Account opening balance in UGX 50,000
d) Minimum Balance in UGX 50,000
4. FEES, CHARGES AND PENALTIES
Description of standard fees Amount in UGX
a)

 

 

 Withdrawal fees :Over the counter (teller)

 

 

 Free for the first 3 withdraws

 

:Subsequent withdraws at 5,000
b) Account statements: 1st issue per quarter is free of charge  As per the Tariff Guide
c) Administrative fees per month 2500
d) Interim, duplicate statements 5,000
e) Account reactivation 0
f) Below minimum balance penalty 10,000
Potential additional fees/charges
g) ATM ISSUANCE new/replacement/expired/destroyed/lost N/A
h) Replacement of faulty ATM card N/A
i) Account closure fees 20,000
j)

 

 Customized statement

 

 5,000 @ page and a minimum of 20,000
k) Standing orders to other banks 20,000
l) 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.

 

KFD

  1. RISKS

 

  1. If your balance falls below the minimum balance allowed, you will have to pay penalty charges.
  2. Insurance benefits are only applicable if conditions in section 3 (f) are met on monthly.
  3. n/a

 

  1. FURTHER POINTS TO CONSIDER

 

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 3 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 claim for the insurance benefits: Please visit our nearest branch for guidance on the claims process and procedure.

 

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

 

Client Relationship officer
Name …………………………………….  

………………………………….
Signature …………………………………… ………………………………….
Date ………………………………….. ………………………………….