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Fixed/Short term deposits
This product is available for the deposit holders to keep fixed sum of money for a definite period of time at a fixed rate of interest.
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Deposit Amount
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Eligibility
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Period
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Available
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Other Terms and Conditions
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Rate of Interest
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Special Features
| Minimum Deposit | Shs. 100,000/= |
| Maximum | No ceiling |
Individuals, business firms, company, association, society etc.
| Minimum | 1 Month |
| Maximum | 36 Month |
Up to 85% of the deposit amount
3-5 % over the deposit rate of interest applicable
If the entire amount is withdrawn within one month from the date of deposit, no interest will be payable on deposit. However, if the deposit remains with the Bank prepayment may be considered with interest @1% below the rate applicable for the period for which the deposit has remained with the Bank.
* Interest rate is subject to change from time to time. View latest Interest Rate
** For further details, contact any of our Branches in Uganda
As applicable for deposit rates for one month and other periodic slots from time to time.
Prepayment facility is available. Rate of interest on prepayment will be 1% less than the applicable rate for the terms of deposit remained with the bank
Overdraft / loan facility Interest rate
- Deposit can be renewed with interest on due date.
- The principal amount of deposit can be renewed and interest is paid separately to the customer
- The principal amount and interest due thereon will be paid to the customer on due date.
- No cash deposit fee
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What is a fixed-term deposit?Fixed-term deposits are bank accounts where you deposit a lump sum for a predetermined period. They offer higher interest rates than savings accounts, but early withdrawals may result in penalties. At the end of the term, the deposited amount plus interest is returned to the account holder.
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How does a fixed-term deposit work?
A fixed-term deposit is a savings account where you deposit a significant amount for a specific duration where withdrawals before the agreed time incur penalties. These accounts offer higher interest rates in exchange for commitment. At the end of the term, you can either withdraw the funds or renew the deposit.
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What is the minimum deposit required to open a fixed-term deposit account?
To open a fixed-term deposit account at Bank of Baroda Uganda, a minimum deposit of Shs. 100,000 is required.
