THIS KEY FACT DOCUMENT IS IMPORTANT TO YOU. IT SUMMARISES THE TRANSACTION YOU ARE CONSIDERING. PLEASE ONLY SIGN AFTERYOU HAVE READ, UNDERSTOOD AND AGREED TO THE CONTENT OF THIS DOCUMENT.
- TYPE OF ACCOUNT TOTOS TREASURE ACCOUNT (UGX)
- AIMS AND BENEFITS One free withdraw a quarter, No notice required when withdrawing money. ATM Card only deposits, Competitive rates.
|a)||Fees Secure||Provision of school fees following the death or disability of a parent/guardian benefactor.
Amount paid is equivalent to four times the account balance not exceeding Ugx. 25M/-
|b)||Retrenchment||Following loss of Job for an account holder, the average monthly savings for the previous 6 months is paid throughout the period of retrenchment up to a maximum of 3 months to keep the account active and dream alive|
|c)||Medical Cash Benefit||In case of hospitalization of the child for more than 3 days, Ugx. 50,000 per day for a maximum of 14 days will be paid.|
|d)||Funeral||On death, burial expenses of up to Ugx. 1M will be paid|
- TERMS AND CONDITIONS
|a)||Interest of 3% accrued daily and applied quarterly||The interest rate is: Fixed ⃝ Variable ⃝ Tiered ⃝|
|b)||Duration: Unlimited||End date: Open|
|c)||Account opening balance in UGX||30,000|
|d)||Minimum Balance in UGX||20,000|
|e)||Eligibility Criteria for insurance benefits||Should have a Toto’s Savings Account.|
|Should have actual balance of Ugx. 500,000 and above|
|Make at least one deposit transaction every month|
4. FEES, CHARGES AND PENALTIES
|Description of standard fees||Amount in UGX|
|a)||Withdrawal fees: Over the counter (teller)
:Penalty for withdrawing beyond restrictions
:Bulk cash withdraw (UGX 20M and above)
|1 free withdraw per quarter and UGX 10,000 for subsequent withdraws
0.25% of amount, max 30,000 UGX
|b)||Account statements: 1st issue per quarter is free of charge||As per the Tariff Guide|
|c)||ATM balance enquiry, ministatement, cheque book request||300|
|e)||Administrative fees per month||Nil|
|f)||Interim, duplicate statements||5,000|
|h)||Below minimum balance penalty||10,000|
|Potential additional fees/charges|
|i)||ATM ISSUANCE new/replacement/expired/destroyed/lost||N/A|
|j)||Replacement of faulty ATM card||N/A|
|k)||Account closure fees||20,000|
|l)||Customized statement||5,000 @ page and a minimum of 20,000|
|m)||Standing orders to other banks||20,000|
Bank to Wallet transfer to Telecom mobile money (MTN, AIRTEL)
| UGX 5,000 – 30,000 =UGX 500
UGX30,001 – 60,000 =UGX 1,000
UGX 60,001- 125,000 =UGX 1,000
UGX 125,001- 250,000=UGX 1,500
UGX 250,001 – 500,000=UGX 2,000
UGX 500,001 – 1,000,000=UGX 2,500
UGX 1,000,001-2,000,000=UGX 3,000
UGX 2,000,001-5,000,000=UGX 5,000
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.
- a) If your balance falls below the minimum balance allowed, you will have to pay penalty charges.
- b) n/a
- c) n/a
- 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 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 □|