Festival Deposits

Festival Deposits

Festival Deposits

The product is in the nature of Term Deposit for the period of 500 & 700 Days.

Who Can Open

All individuals including minors (Single / Joint) , Sole Proprietary / Partnership firms, Private / Public Ltd. Companies, Trusts, Societies, Clubs, Educational Institutions, Government Departments, Public Sector Undertakings etc. are eligible to invest in the product.

Period of the Deposit

The term deposit should be for a period of 500days & 700days.

Minimum & Maximum Amount

Minimum Amount Shs.1.00Mn.
Maximum Amount There is no upper ceiling

Rate of Interest

View latest Interest Rates

Premature Withdrawal of the Deposit

Premature withdrawal of the deposits made under the scheme, if requested, shall be allowed. No part withdrawal of deposit is allowed. In case of joint names, requests for prepayment shall be made in writing, signed by all the depositors.

Loan / Overdraft Against the Security of the Deposit

Loan / Overdrafts are available on the request of the account holder in the Savings Bank / Current A/c of the depositors against the deposits made under the product as an inbuilt facility. Facility is available up to the extent of 85% of the total deposit in this scheme.

Alternatively, the depositor may avail loan against deposit in usual way, whenever needed in future. Rate of interest on Overdraft / Loan is to be charged @3-5% above the deposit rate.

* Interest rate is subject to change from time to time. View latest Interest Rate
** For further details, contact any of our Branches in Uganda

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