Product Features

• The account is denominated in Uganda Shillings (UGX).
• No cash deposit required to open the account.
• Minimum balance of 10,000.
• Tiered interest on account balances.
• Standing order at 3,000.
• Loan interest at 13% p.a.
• Permits cash withdrawals through withdrawal vouchers & CenteSwift. Withdrawal charges vary based on the amount withdrawn:

      - For withdrawals < UShs. 50M, a charge of UShs. 6,000 applies

      - For withdrawals between UShs. 50M and UShs. 200M, the charge is UShs. 10,000,

     - For withdrawals above UShs. 200M, the charge is UShs. 20,000.

• Accessible at any branch.
• 1 free statement of account issued quarterly, and on request.
• Accepts deposits via cash, wire, cheques, and other acceptable means, i.e. Mobile Money.

Benefits

• Free charge account with no monthly ledger fees.
• Free quarterly bank statements.
• Attractive tiered interest rates on deposits:

      - 2% p.a. (100M - 300M)

      - 3% p.a. (300M - 500M)

      - 4% p.a. (500M - 800M)

      - 5% p.a. (above 800M)

• Free financial literacy training and mentorship.
• Convenient 24/7 banking with CenteLinkApp.
• Offers protective insurance policies covering principal members, spouses, and children at lower premium rates: Insurance packages range between UShs. 36,000 and UShs. 108,000 as funeral cash to cover death, accidents, and critical sickness. For example, the member receives UShs. 10M, the member’s spouse receives UShs. 5M, and the member’s four (4) children receive UShs. 1.2M each. Credit insurance policy to cover members’ loans at 1% by CIC.

• Cash-in-Transit (C.I.T) serves offered at the SACCO’s expense.