Our Toto’s Treasure Account, is a savings account targeting children from birth to 18 years.The Toto’s Treasure Account, creates avenues where parents can inculcate a savings culture amongst their children while saving for their future financial needs at the same time.
Features:
- Opening balance of UGX 30,000/USD/EUR/GBP 50
- Minimum balance of UGX 20,000/USD/EUR/GBP 30
- No account maintenance charges
- 1 free withdraw per quarter
- Interest bearing account
- Access to insurance benefits
- Life insurance cover of up to 4 times your account balance
- Permanent disability cover of up to 2 times your account balance
- Retrenchment payment cover not exceeding the average monthly savings for the previous 6 months paid for a maximum of 3 months
- Medical cash benefits in case of hospitalization
- Last funeral expense cover
Benefits:
- Ability to save for children’s education
- Attractive interest rates
- Access to insurance benefits like Feesecure (death/permanent disability), retrenchment, medical cash benefit, funeral benefit, dental benefit, scholastic material
Requirements:
- Birth certificate/Immunization card/ baptism card
- Valid National ID for parent /guardian
- 2 passport size photos for parent/guardian and 2 for the child
Requirements For Non-biological Child:
- Guardianship order where available
- The parent should come to the Bank and write a letter authorising the guardian to open the Toto’s account
- In case the parents are deceased, the copy of letters of administration and/ or death certificate should be obtained
- In the absence of all the above, the guardian should provide a letter signed by the local authority/leader e.g. Church, CAO etc. that is verifiable by call back
