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BOU Mdis and Cis Charges October 2020

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BOU Mdis and Cis Charges October 2020 BANK OF UGANDA Plot 37/45 KAMPALA ROAD P.O. BOX 7120 KAMPALA. Telephone: 256-41-258441/6 or 258061/6, Telex: 61069/61244; Fax: 256-41-233818 Website: www.bou.or.ug e-mail address: [email protected] MICROFINANCE DEPOSIT - TAKING INSTITUTIONS (MDIs) CHARGES AS AT SEPTEMBER 30, 2020 Bank of Uganda regularly publishes these Financial Institution charges in the local press to promote transparency and enhance competition in the provision of financial services to the public. Customers who are charged differently from what is published are advised to report to Bank of Uganda. Amounts are in Uganda Shillings and attract 15% excise duty unless otherwise stated. FINCA PRIDE UGAFODE EFC SAVINGS ACCOUNTS Initial deposit N/A Individuals - Shs.10,000 Junior Savings Account - Shs.10,000; Ordinary Savings Account - Shs.10,000; N/A Institutions - Shs.50,000 Group Save Account - Shs.10,000; Target Savers Account - Shs.10,000; Institutional Savings Account - Shs.50,000; Fixed deposit Account - Shs.100,000 Minimum Balance a) FINCA Easy, FINCA Target, FINCA Junior and Shs.5,000 Junior Savings Account - Shs.10,000; Group Save Account - Shs.10,000 Shs.20,000 FINCA Smart Start Accounts - Shs.10,000 Ordinary Savings Account - Shs.10,000; Institutional Savings Account - Shs.50,000 b) FINCA Group and Corporate Accounts - Sh.50,000 Target Savers Account - Shs.100,000 (To earn interest) Opening fee N/A N/A N/A N/A Penalty below min 10,000+15% excise duty Shs.1,000 for Akiba and Smart Savings Accounts Shs.5,000 for Target Savers Account early retirement. Nil for other accounts. N/A Savings Insurance N/A N/A N/A N/A Ledger fees per entry N/A N/A Nil Free Account Management/Service fee a) FINCA Target and Group Accounts - Shs.1,000 1) PRIDE Akiba and Smart Accounts - Shs.2,000 for Individuals and Shs.3,000 for Institutions (+15% excise duty) Nil for Group Save and Junior Savings Accounts. Shs.1,150 per month for other Shs.3,000 + 15% excise duty b) FINCA Corporate & School Fess Collection Accounts inclusive of 15% excise duty. Accounts - Shs.10,000 2) PRIDE Rising Stars, Save for a Target (SFT) and Save as You Earn (SAYE) - Free c) FINCA Junior - N/A, All the charges are subject to 15% excise duty d) FINCA Easy - Shs.2,000 e) FINCA Smart Start Savers - Shs.500 All the charges are subject to 15% excise duty Statement Free Monthly Statement Shs.1,000 per page (+15% excise duty) 1 free monthly statement. Shs.5,000 + 15% excise duty Interim statement/additional statement Shs.1,000 per page + 15% excise duty N/A N/A Free Duplicate statement Shs.1,000 per page + 15% excise duty N/A Shs.1,150 per page inclusive of 15% excise duty. Free Drawings/Withdrawals a) FINCA Target - Shs.5,000 + 15% excise duty for 1) PRIDE Akiba - Two free withdrawals per month, otherwise charged as per tiers in 4) for each extra withdrawal. Institutional Savings & Junior Savings Accounts - 1 free withdrawal per month and Free more than one withdrawal a week. 2) PRIDE Smart - charged as per tiers in 4) for each withdrawal and an additional transaction charge of Shs.400 for account balance below thereafter Shs.575 per witdrawal inclusive of 15% excise duty. b) FINCA Junior - Shs.5,000 + 15% excise duty for Shs.50,000; 3) PRIDE Rising Stars - One free withdrawal per month, otherwise Shs.1,000 for each extra withdrawal Target Saving Account, Group Saving Account, Ordinary Savings Account and Fixed more than one withdrawal a month. 4) Other charges (Tiers) per withdrawal: a) Shs.1,000 for amounts ≤ Shs.500,000 at the counter for branches with ATM; b) Shs.500 for amounts deposit Account - Nil ≤ Shs.500,000 at the counter for branches without ATM; c) Shs.1,000 for amounts of Shs.500,001 - Shs.1,000,000; d) Shs.2,000 for amounts of Shs.1,000,001 - Shs.4,000,000; e) Shs.3,000 for amounts ≥ Shs.4,000,001; f) Shs.500 for amounts ≤ 500,000 at the ATM. Withdrawal without passbook/card N/A N/A N/A N/A Interbranch charges Nil N/A N/A N/A Cash deposit charge N/A Free Nil Free Savings card/Passbook cost N/A Shs.3,000 Shs.2,000 Shs.10,000 + 15% excise duty Passbook/ Card replacement N/A N/A Shs.2,000 Shs.10,000 + 15% excise duty Savings withdrawal books N/A Shs.5,000 Shs.2,000 for 25 leaflets and Shs.4,000 for 50 leaflets. N/A Closing account a) FINCA Smart Start, FINCA Easy, FINCA Target, Shs.10,000 (+15% excise duty) Nil Shs.10,000 + 15% excise duty FINCA Junior, FINCA Corporate & FINCA Group Accounts - Shs.5,000 + 15% excise duty. b) FINCA Fixed accounts - No charge. Dormant/Inactive Accounts N/A N/A N/A N/A Dormant Account reactivation Shs.10,000 + 15% excise duty Shs.6,000 Nil Free Cheques collection Shs.5,000 + 15% excise duty Shs.4,000 for Kampala Branches (+15% excise duty) Shs.5,000 for Kampala N/A Upcountry cheques collection N/A Shs.6,000 (+15% excise duty) Shs.5,000 N/A Returned cheque-Insufficient funds Shs.10,000 + 15% excise duty N/A Shs.30,000 N/A Returned cheque-Effects not cleared Shs.10,000 + 15% excise duty N/A Shs.30,000 N/A Returned cheque-Technical Shs.10,000 + 15% excise duty N/A N/A N/A Returned cheque by other banks Shs.10,000 + 15% excise duty N/A Shs.30,000 N/A RTGS charges Shs.25,000 + 15% excise duty Shs.15,000 (+15% excise duty) Shs.23,000 inclusive of 15% excise duty N/A EFT charges Outgoing/Incoming Shs.5,000 + 15% excise duty Outgoing - Shs.5,000 (+15% excise duty) Outgoing-Shs.5,000 N/A Incoming - N/A Incoming-Shs.3,450 inclusive of 15% excise duty Stop Payment orders Shs.10,000 + 15% excise duty N/A Shs.10,000 N/A Standing orders (within MDI) N/A N/A Shs.5,000 N/A Standing orders (to other Financial Institutions) N/A N/A Shs.10,000 N/A Certificate of balance Shs.5,000 + 15% excise duty N/A Shs.5,000 N/A Salary handling Shs.2,000 + 15% excise duty Shs.2,000 (+15% excise duty) Shs.2,000 N/A School fees collection Shs.2,000 + 15% excise duty Shs.2,000 (+15% excise duty) Shs.1,150 inclusive of 15% excise duty. N/A URA collection N/A N/A N/A N/A Safe custody charges N/A N/A N/A N/A SMS alerts/Mobile Banking Charges SMS Alerts Charges a) Balance enquiry - Shs.200; b) Mini statement - Shs.300; c) Internal Funds Transfer - Shs.300; a) Mobile Banking (UGAFODE MOBILE) Withdrawals per Transaction - Shs.805 N/A a) 1 - 5 SMS - Shs.500, d) Airtime purchase - Shs.300; e) Utilities - Shs.1,000; f) Push transcations - Free; (inclusive of 15% excise duty) for transactions between Shs.500 to Shs.500,000 b) 6 - 10 SMS - Shs.1,000, g) Bank to wallet transactions: Pull transactions: a) Shs.5,000 - Shs.250,000: Shs.1,000 b) Shs.250,001 - Shs.500,000: Shs.1,500 , Shs.500,001 - b) Mobile Banking Deposits (UGAFODE MOBILE) - Nil c) 11-15 SMS - Shs.1,500, Shs.1,000,000: Shs.2,000 c) Transactional SMS Alerts (with an option to Opt Out) - Shs.575 per month inclusive d) 16-20 SMS - Shs.2,000, h) Transactional SMS monthly charge: i) 0-5 SMS - Shs.500 ii) 6 - 10 SMS - Shs.1,000 iii) 11-15 SMS - Shs.1,500 iv) 16-20 SMS - Shs.2,000 of 15% excise duty e) Above 20 SMS - Shs.15,000 v) Unlimited-Shs.15,000. All charges are subject to 15% excise duty LOAN RELATED CHARGES Advance application fee Shs.10,000 only for Individual loans Loan application fees - 3% of loan amount. a) Loans of Shs.30m & above - Shs.50,000; b) Loans of Shs.10m to below N/A Shs.30m - Shs.20,000; c) Loans of Shs.100,000 to Shs.9.9m - Shs.10,000 for group loans and Shs.20,000 for individual loans Advance commitment fee N/A N/A 3% of loan amount for all loans of Shs.30m and above. N/A 2.5% of loan amount for all loans below Shs.30m Arrangement fees N/A N/A Nil Maximum of 2.5% of the Loan Amount Advance processing/admin fee 1% for Group Loans, 3% for Individual Loans & 1% N/A N/A N/A for Salary and Energy Loans. Monitoring fee N/A N/A Nil N/A Assessment costs/other loan related charges N/A N/A N/A N/A Insurance fee 0.6% of the Loan Amount 1% of loan amount 0.55% 0.5% - 1.12% of the Loan Amount Interest Rates a) Group Loans - 5.73% p.m. Community banking loan: a) <Shs.1.5m; 29% p.a. b) Shs.1.5m - Shs.10m; 24% p.a c) above Shs.10m; 20% p.a. a) Business Loans - Between 34% to 51.44% p.a 36% - 54% on reducing balance (3% - b) Individual Loans - 2% to 4.29% p.m. Group loans: a) < Shs.1.5m; 29.5% p.a. b) Shs.1.5m - Shs.10m; 24.5%p.a.
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