KAMPALA, UGANDA: Centenary Bank has chosen to make its fixed deposit account attractive, thanks to its new vision of reimagining banking in Uganda.
The first thing that caught people’s attention was the minimum deposit amount. It was set at UShs.300,000, which was a lot more than most other savings accounts. However, people were willing to overlook this because of the benefits that came with the account.
One of the most attractive features of the account is that customers can terminate their contracts and still earn interest as long as they had completed 80% of the contract. This is great news for customers who need flexibility with their savings.
Another great thing about the account is that there were no regular fees or charges. This is a relief to many people who were tired of paying extra charges on their savings accounts.
The account is renewable on maturity for up to 24 months, and customers could select an interest payment starting with “Monthly”. There is also a tiered interest rate that favors larger depositors.
To open the account, customers need passport-size photos, valid identification documents, and a letter of introduction from either their employer or local authorities.
They also need to provide the amount they want to deposit and a referee who is an account holder if they are not already a customer of Centenary Bank.
Higher interest rates: Fixed deposit accounts generally offer higher interest rates than traditional savings accounts. The longer the term of the deposit, the higher the interest rate is likely to be.
Why Fix Centenary Bank?
Guaranteed returns: Unlike investing in stocks or other financial products, the Cente Fixed Deposit Account offers a guaranteed return on investment. This makes the bank a relatively safe investment option.
Flexibility: The account can be opened for a range of terms, depending on the customer’s needs and goals.
Low risk: The Cente Fixed deposit account is generally considered a low-risk investment, as the funds are held by a regulated financial institution and are insured up to a certain amount.
To learn more about this special account, click here: https://www.centenarybank.co.