NGO Current Account

This is a current account designed to attract Nonprofit making organisations to the bank which in turn supports the bank strategy to grow the liabilities base. The account has tiered credit interest rates that can be applied on case to case basis as the balances grow.

Features:

  • Opening balance of UGX 200,000, USD 200, GBP 200 or EUR 200
  • Monthly Account maintenance fee as per tariff guide
  • No incoming transfer fees
  • Free monthly statements
  • Free online banking
  • Preferential rates on foreign currency conversions
  • Interest rate of 3%p.a for balances of UGX 50M and above, accrued daily and paid monthly
  • Waiver of requirement for CRB card

Benefits

  • Free monthly statements
  • Two free cheque books per year
  • Attractive interest rates

Key Requirements To Get Started:

  • A certified NGO certificate that can be obtained from the NGO Board MOIA.
  • A copy of the Organisation’s constitution certified by the NGO Board.
  • Resolution to open an account and a duly signed mandate certified by the NGO Board.
  • Proof of source of funds for example donor agreements, grant approvals, published list of funders as well as any other reliable form of information.
  • 2 Passport-size photos for each signatory and valid Identification documents.
  • Proof of physical address.
  • Original signatures/minutes of meeting signed off by the majority.
    documentation for both the entity and the signatories

Additional Requirements

  • A certified NGO certificate that can be obtained from the NGO Bureau MOIA
  • A copy of the Organization’s constitution certified by the NGO Bureau
  • Resolution to open an account and a duly signed mandate certified by the NGO Bureau

You might also like

Call Deposit Account

Corporate Current Account

Investment Club Account