Features of Investment Club Current Account:

• Minimum of 4 people required to form a club
• Opening balance of UGX 100,000/ USD 50/EUR 50/GBP 50.
• Access to group mortgages of up to 300% of the club savings.
• Access to an overdraft facility of up to 50% of the club funds.
• Tiered interest based on account balance to accrue daily and applied semi-annually
  • UGX 100,000 – 1,000,000 : 3% pa.
  • Ugx 1,000,001– 5,000,000 : 4%pa.
  • Ugx 5,000,001 -30,000,000: 6 % pa.
  • Ugx 30 ,000,000: 7%pa.

Benefits:

• Competitive interest rates of up to 7% p.a.
• Access to 300% group mortgages and 50% OD of the funds held on the account.
• 1st cheque book issue free of charge.
• Free monthly statements.
• Preferential forex rates.
• Regular training and capacity building

Requirements:

• Club registered as an entity for instance company limited by guarantee; partnership; SACCO; Association etc.
• Where the club is registered as an entity for instance a SACCO, Associations, Company limited by guarantees etc. the requirements for that entity will apply