Features.

• 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).

Benefits

• 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 (NID).
• 2 passport size photographs per signatory