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.
Give your institution a raise
Target market: Institutions and their members who wish to access UGAFODE Microfinance Limited (MDI) financial services
FEATURES
- Initial Deposit: UGX 50,000
- Minimum Balance: 50,000
- Monthly Fee: UGX 1,150
- Interest rate & Calculation: 3.5% Credited monthly on the minimum balance during the month.
- Transaction Fees: N/A
- Funds Transfer: EFT
- Statements: 1 free per month
Account Opening Requirements
For partnerships
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- Partnership deed.
- Statement of particulars.
- Certified copy of Registration certificate.
- Passport photos of the partners.
- Copies of National/ Refugee Identity Card for partners
For a Limited Company
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- 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 National/Refugee identity cards & passport photos.
For Clubs, Associations and Societies
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- 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 National/Refugee identity cards & passport photos.
For trusts, Foundations, Churches, Hospitals and Schools
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- 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 National/Refugee identity cards & passport photos.
For NGOs and Parastatals
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- 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 National/Refugee VALID identity cards & passport photos.