Collective Savings Account

Our Collective Savings Account is an account for groups of people coming together to pool resources for Investment purposes through overdraft and mortgages.


  • Minimum monthly deposit of UGX 250,000.
  • Maximum monthly withdraw of 50% of funds held in a given month.
  • Tiered interest based on account balance to accrue daily and applied semi-annually
  • Ugx 250,000– 5,000,000 : 4%p.a.
  • Ugx5,000,001 -30,000,000: 6 %p.a
  • Ugx30 ,000,000: 7% p.a.
  • Penalty of Ugx 50,000 for not meeting minimum monthly deposit.
  • Lending up to a threshold of 150% of funds held (individual beneficiaries and collective).


  • Access to third party withdraw voucher.
  • Members interest is credited on individual accounts.

Fees and Charges.

  • Interest to be waived for withdraws above restrictions.
  • Penalty of UGX 50,000 for not meeting minimum monthly deposit.
  • Risk grading to be basis for pricing.
  • No monthly charges.

Requirements to borrow.

  • Minimum savings period of 6 months and personal guarantees of signatories or trustees.
  • Cash cover account acts as security.
  • Borrowing to be done through account separate from savings account.

Requirements to open an account.

  • Certified copies of registration for the entity.
  • Resolution or Authority to open account with Housing Finance Bank.
  • List of designated beneficiaries.
  • Duly-filled Application form.
  • Copies of Valid Identification of Signatories (National ID).
  • 2 passport size photographs per signatory

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