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Ordinary Savings Account (OSA)

This account gives a regular income earner a secure and unlimited access to their money through any of the service delivery channels; over the counter at branch and/or mobile banking platform AirSave

A Secure and unlimited access to your money

Target market :  Regular income earners.
Initial Deposit :  Any amount
Minimum Balance :  NIL
Monthly Fee :  UGX 1,100
Interest rate & Calculation :  3.5% Credited monthly on the minimum balance during the month
Transaction Fees :  N/A
Funds Transfer :  EFT and Mobile Banking
Account Opening Requirements :
  • A passport photo
  • A copy of VALID ID Card
  • For non residents, a copy of their passport with a VALID visa or work permit is an additional requirement.
Statements :  1 free per month

Fixed Deposit Account (FDA)

Save your money in a risk free investment with flexible terms over a period of time (3 months – 1 year)at competitive interest rates.

Your Risk Free Investment

Target market :  Potential clients who wish to save their money and earn interest at the end of the period.
Initial Deposit :  UGX 100,000
Minimum Balance :  Fixed Deposit
Monthly Fee :  N/A
Interest rate & Calculation :  6-14% p.a. negotiable
Transaction Fees :  At maturity
Funds Transfer :  N/A
Account Opening Requirements :
  • Same as OSA
  • Amount to be fixed is deposited on the customer OSA
Statements :  1 free per month

Junior Savings Account (JSA)

Guarantee your child’s future by saving for your on his/her behalf that will guarantee their financial future.

Guarantee your Children’s future

Target market :  Regular income earners.
Initial Deposit :  Any amount
Minimum Balance :  NIL
Monthly Fee :  N/A
Interest rate & Calculation :  5% Credited monthly on the minimum balance during the month
Transaction Fees :  N/A
Funds Transfer :  EFT
Account Opening Requirements :
  • A passport photo of the parent and the child.
  • Same as OSA
  • Proof of relationship (birth certificate or baptism card).
Statements :  1 free per month
Additional withdrawal charges :  UGX 550

Target Savings Account (TSA)

Save for future use by making small frequent deposits daily, weekly and/or monthly on their target account towards achieving a specific future goal.

Small savings, BIG Investments

Target market :  Potential clients who wish to save for future use.
Initial Deposit :  UGX 10,000
Minimum Balance to earn interest :  UGX 100,000
Monthly Fee :  N/A
Interest rate & Calculation :  8% accrues monthly and is credited at the end of the contract.
Transaction Fees :  N/A
Funds Transfer :  N/A
Account Opening Requirements :
  • Same as OSA
  • An OSA must exist or be opened on which to transfer funds after maturity/termination of account/contract.
Statements :  1 free per month

Institutional Savings Account (ISA)

Institutions and their members who wish to access financial services to give their institutions a raise in terms of asset acquisition, managing operational expenses, renovations and construction, other developments, etc.

Give your institution a raise

Target market :  Institutions and their members who wish to access UGAFODE Microfinance Limited (MDI) financial services
Initial Deposit :  UGX 20,000
Minimum Balance :  NIL
Monthly Fee :  UGX 1,100
Interest rate & Calculation :  3.5% Credited monthly on the minimum balance during the month.
Transaction Fees :  N/A
Funds Transfer :  EFT
Account Opening Requirements :  For a partnerships

    • Partnership deed.
    • Statement of particulars.
    • Certified copy of Registration certificate.
    • Passport photos of the partners.
    • Copies of VALID identity cards (options as for OSA).

For a Limited Company

    • Certified copy of Certificate of incorporation.
    • Memorandum and Articles of Association.
    • Particulars of directors and company secretaries (Co. form 7)
    • Duly certified resolution by the board of directors to open an account specifying the mode of operation.
    • Directors’ personal details, copies of VALID identity cards & passport photos.

For Clubs, Associations and Societies

    • Duly certified copies of the institution and by-laws.
    • Certified copy of Certificate of registration (in case of registered entities).
    • Resolution passed by the managing body to open an account including the mandate to operate it.
    • Signatories’ personal details, copies of VALID identity cards & passport photos.

For trusts, Foundations, Churches, Hospitals and Schools

    • Original trust deed (if applicable).
    • Certified certificate of registration.
    • Resolution to open an account and its mode of operation (where entity is owned by a company or group of people).
    • A letter from the concerned ministry for schools and hospitals.
    • Signatories’ personal details, copies of VALID identity cards & passport photos.

For NGOs and Parastatals

    • Certificate of registration from NGO board.
    • Duly certified resolution to open an account and its mode of operation.
    • Constitution/by laws.
    • Signatories’ personal details, copies of

VALID

    identity cards & passport photos.
Statements :  1 free per month

GroupSave Account (GSA)

Low-income earners who manage diversified portfolio of informal savings with an established leadership structure; serving them and their communities to provide safety and guaranteed access to formal financial services.

Serving You and Your Community

Target market : Low-income Ugandans who manage diversified portfolio of informal savings in an established leadership structure .
Initial Deposit : UGX 10,000
Minimum Balance : UGX 10,000
Monthly Fee : 1100
Interest rate & Calculation : 5% p.a. Credited on the minimum balance during the month .
Transaction Fees : N/A
Funds Transfer : Mobile banking (AirSave)
Account Opening Requirements :
  • Duly certified copies of the constitution and by-laws.
  • Certified copy of Certificate of registration (in case of registered entities).
  • Resolution passed by the executive committee to open an account including the mandate to operate it.
  • Signatories’ personal details;
  1. Photocopy of VALID identification Either of the following cards; FCS Card, Voters’ Card, NSSF, Driving License, Passport) .
  2. 1Passport photo for each signatory of the account
Statements : 1 free per month, UGX 1100 thereafter