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 Nil for UGX, USD 10, GBP 5 or EUR 10
  • No transfer fees on incoming transfers.
  • Free monthly statements.
  • 2 free cheque books per annum.
  • Preferential rates on foreign currency conversions.
  • Minimum balance of UGX 1,000,000=
  • Waiver of requirement for CRB card.
    opening balance of UGX 200,000/=, USD 200, GBP 200 or EUR 200

Benefits

  • No monthly fees if min bal is maintained.
  • Free monthly statements.
  • Two free cheque books per year.
  • Attractive interest rates.

Fees and charges

  • Monthly account maintenance charges of  Ugx10,000 if below min Balance.
  • No fees on incoming transfers.
  • No charges on deposits.

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

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