At Uganda Bankers Sacco you can buy shares, save money and take loans.Below are important details about the Sacco:

Uganda Bankers Sacco Contacts

• Location: Plot 17 Hannington road, Crested Towers building, Short tower, 6th Floor
• Email: info@ugandabankersacco.com
• Phone: + (256) 31 222 4585 / + (256) 31 222 4238

Shares account

Shares account is non-withdrawable

Share Capital

This represents a member’s portion of equity in the society.

• Each member needs to have share capital minimum of 100,000 UGX
• Each share is priced ar 1,000 UGX each
• It’s an excellent account for long term savings with attractive dividends. These shares are non-refundable but can be transferred to an existing member.

Savings account

These are continuous savings that members make to the SACCO throughout their membership

The features are:

• Encourages a saving culture
• Monthly minimum contribution is 20,000 UGX
• Earns interest every year on a monthly basis
• Allows members to access loans

Children’s Account

It’s a children’s savings account meant for short term future financial needs

Features

• Minimum savings of 10,000 UGX per month
• Competitive interest rates
• Withdrawal allowed every 4 months
• No ledger fees

Business Savings Account

This is a business savings account that earns 6.5% per annum

The features are:

• Share amount is 200,000 UGX
• Minimum balance is 100,000 UGX
• Fee is 20,000 UGX to join
• For repayments, debit order forms or STOs are required.
• Registration documents for your business
• Directors must be members of the SACCO

Business Loans Account

This is a business loans account that earns 10.5% per annum

The features are:

• Minimum amount is 5,000,000 UGX
• Maximum amount is 100,000,000 UGX
• 50,000,000 UGX and above requires collateral
• Maximum loan period is 48 months
• Requires bank statements
• Debit order form is required for people who are outside Stanbic bank but have Stanbic accounts

Group Account

Description

It is suitable for welfare and developmental purposes

Features

• Minimum savings of 150,000 UGX per month
• Minimum number of group members is 3
• Withdrawal is twice a year
• No ledger fees

Ordinary Loan Account

These are loans granted for purpose of building, school fees, car purchase, agriculture etc.

Features

• Given out at a ratio of 1/3
• Maximum loan tenure is 36 months
• Partial withdrawal up to a maximum of 50% of net deposit after clearance of outstanding loans once a year
• Disbursement to be processed in 24 hours up to submission of full documents, current pay slip, loan application forms
• Applicant should have saved for 6 months
• Loan top up is available after 4 months.
• Interest charged on reducing balance at 11% per annum.

Land Acquisition Loan

These are loans disbursed purposely to purchase land

Features

Loan tenure of 60 months

Land should be in a radius of 20KM from major cities

Interest of 10% on reducing balance is charged per annum

Initial deposit of 30% value of land is required

The title is kept with the SACCO offices until completion of the loan