About the Society current account
This is a banking solution for groups of people who come together for a common purpose or have a common bond to save, grow or invest their funds. These include;
- SACCOs & Cooperatives
- Investment Clubs
- Formal & Informal groups of more than three people
What does it offer me?
- A Society current account in local currency
- Tiered interest paid on the current account of up to 5% on your credit balances above UGX 10,000,000
- Free Online banking that provides access to accounts and transacting 24/7
- Free Monthly E-statement
- Zero monthly management fees if the account maintains a minimum balance of UGX 100,000
- Free Incoming Electronic Transfers (EFT’s) to the account. Customer receives transfers from other local banks at absolutely no cost
- Free Cash and cheque deposits in to the account
- One Free Cash withdrawal in a month
- Interest paid on credit balances above UGX 10 million
- Free access to FlexiPay which enables you receive real time payments and collections from members.
- Cheque books available in Local Currency
- Attractive long term investment options for your excess funds
- Financial literacy sessions
- Networking amongst societies/clubs
- 24-hour toll free Customer Care Centre- 0800 150 150 or 0800 250 250
- Access to our Enterprise direct Centre for financial & Investment advice on +256 31 222 66 00 or [email protected]
Requirements to open up a Society account?
1. Registered Constitution (Own or can use template provided by bank to customize and register one)
2. Board Resolution or minutes authorizing to open account
3. Proof of Address (Society/Group registered address)
4. Proof of Address of Signatories
5. National ID or Passport of Signatories
6. Two passport photos of the signatories
If you do not have a constitution, we can guide you with the template available which can guide you and customise according to your group needs.
Click to download the draft [email protected]