Cente Fixed Deposit Account
Product Features
- The minimum amount to be fixed is UShs.300, 000; the maximum amount is open.
- Customers can terminate contracts and still earn interest as long as 80% of the contract has been met
- No regular fees or charges.
- The account holder may personally make cash withdrawals before maturity, in which case they forfeit interest.
- No ATM is issued for this account.
- No regular account statements are issued.
Benefits
- Account earns interest at a rate higher than that applied to other savings account
- Cash from the account can be withdrawn at any time on notice
- Account can be used as cash collateral/security for loans
- Renewable on maturity of up to 24 months, with competitive interest rates
- Option to select interest payment starting with “Monthly” is available
- Tiered interest rate, which favors larger depositors
- SMS alerts for transactions done
Requirements
- Passport size photos.
- Valid identification documents including the following: Valid National Identity Card for Ugandans, Passport for foreigners (Non-Ugandans), Refugee Identity Card for Refugees.
- Letter of introduction from either employer or local authorities (if not already a customer of the bank)
- The amount to be fixed
- Referee who is an account holder (if not an existing customer of Centenary Bank)