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
• UGX 5,000,001 – 30,000,000: 6% p.a
• UGX 30,000,000: 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

Requirements

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