BANK OF UGANDA 37/43 KAMPALA ROAD P.O. BOX 7120 KAMPALA Telephone: 256-41-258441/6 or 258061/6, Telex: 61069/61244; Fax:256-41-233818 Web site www.bou.or.ug; E-mail address: firstname.lastname@example.org CREDIT INSTITUTIONS CHARGES AS AT 30 SEPTEMBER, 2009 Bank of Uganda is publishing these Financial Institution Charges to promote transparency and enhance competition in the provision of financial services to the public. These charges will be published regularly in the press. Financial Institution customers who are being charged differently from what is published are advised to report to Bank of Uganda. Amounts are in Uganda Shillings unless otherwise stated. CHARGE/FINANCIAL INSTITUTION CAPITAL FINANCE FAULU UGANDA LIMITED MERCANTILE POST BANK UGANDA CORPORATION CREDIT BANK SAVINGS ACCOUNTS Minimum Balance 25,000(a) 10,000 (au) (y) Penalty below min 5,000 Nil N/A N/A Ledger fees per entry N/A N/A 1,000 N/A Account management/Service fee (b) Nil 1,000 per transaction (o) (z) Statement 3,000 per page (d) 2,000 100 only for Business account Interim statement N/A Nil Nil 1,000 per page N/A for Fixed deposit Duplicate statement N/A Nil 3,000 N/A Drawings/Withdrawals (c) Nil 1,000 (aa) Withdrawal without passbook/card N/A Nil N/A N/A Cash deposit charge N/A N/A Nil Nil Savings card/Passbook NIL Nil N/A 5,000 Passbook/ card replacement 10,000 Nil N/A 10,000 N/A for Fixed Deposit Closing account 10,000 (e) Nil N/A 10,000 (ab) Internal Cheque book/per leaf 5,000 N/A N/A (ac) Dormant/Inactive Accounts 5,000 Shs 1,000 until the balance gets to zero N/A N/A Dormant Account reactivation 10,000 Nil N/A 0.5% of value of account min. 10,000 Drafts-customer 5,000 N/A N/A 10,000 Drafts-non customer 10,000 N/A N/A N/A Counter cheque leaf N/A N/A N/A N/A Deposit book N/A N/A N/A 3,000 per book Cheques collection (g) Nil Nil 3,500(ad) Upcountry cheques collection 10,000(g) Nil N/A 10,000(ae) Returned cheque-Insufficient funds 15,000 50,000 100,000 50,000 Returned cheque-Effects not cleared 1% minimum Shs10,000 N/A 100,000 50,000 Returned cheque-Technical 10,000 N/A Nil 50,000 Returned cheque by other banks 10,000 N/A N/A 50,000(af) Cheque Cancellation 5,000 N/A N/A N/A Cash deposit charge N/A N/A Nil N/A EFT charge N/A N/A 1,500 (bb) Stop Payment orders 10,000 N/A 70,000 N/A Standing orders (within bank) 10,000 N/A N/A 3,000 Inter Account (ag) Standing orders (to other banks) N/A N/A N/A 5,000 Inter Bank (ag Certificate of balance 10,000 Nil 10,000 NIL Audit confirmation N/A Nil N/A N/A Letter of introduction 25,000 Nil N/A 30,000 Salary handling 2,000 per entry Nil N/A (ah) School fees N/A Nil N/A (ai) URA collection N/A Nil N/A N/A Safe custody charges (h) Nil N/A (aj) LOAN RELATED CHARGES Advance application fee 20,000 Nil 0.50% (am) Advance commitment fee 2% (i) Nil 2% N/A Arrangement fee 2% (i) 1% 0.5% (ak) Advance processing/admin fee N/A Nil N/A N/A Monitoring fee N/A Nil (p) (al) Insurance fee 1% Max 50 Million 1% of loan amount N/A 1% of amount granted Interest Rates (ap) (aq) 20-26%(av) (az) FOREIGN EXCHANGE Minimum balance N/A N/A $100 N/A Penalty below min N/A N/A N/A N/A Ledger fees per entry N/A N/A $2 N/A Minimum ledger fee per month N/A N/A N/A N/A Account management/Service fee N/A N/A $1 N/A Cash deposit charge N/A N/A NIL N/A Drawings/Withdrawals N/A N/A 1% N/A Statement N/A N/A N/A N/A Additional Statement N/A N/A N/A N/A Out foreign transfers-customers N/A N/A (bd) N/A Out foreign transfers-non customers N/A N/A N/A N/A In foreign transfers-customers N/A N/A 0.35% N/A In foreign transfers-non customers N/A N/A N/A N/A Sale of Travellers Cheques N/A N/A N/A N/A LC Opening/Advising commission(cash covered) N/A N/A N/A N/A LC Opening/Advising commission(no cash covered) N/A N/A N/A N/A LC Acceptance commission N/A N/A (q) N/A LC Payment/Settlement commission N/A N/A N/A N/A LC Amendments N/A Foreign Drafts (be) N/A ATM TRANSACTIONS ATM Card 1st issue fee N/A N/A N/A 10,000(aw) Issue of ATM Card N/A N/A N/A 10,000 Uncollected Cards Destroyed N/A N/A N/A N/A Replacement ATM Card (faulty) N/A N/A N/A 10,000 Replacement ATM Card(Lost) N/A N/A N/A 10,000(an) ATM Withdrawals N/A N/A N/A 500 ATM Deposits N/A N/A N/A N/A Account Management fee N/A N/A 2,000 INTEREST ON ACCOUNT DEPOSITS Savings Deposit 5% p.a. (ar) N/A (ba) Fixed Deposit (ao) (ar) (bc) (ba) (a) Minimum balance for Savings Account is Shs 25,000, Trade/Business Account Shs 100,000 and Fixed Deposit Shs 1,000,000. Account Opening Shs 25,000 (Savings) and Shs 100,000 (Trade and Business) (b) Monthly service charges for Trade/Business and Savings accounts Shs2,000 (c) Savings accounts - Free for six(6) over the counter withdrawals, Shs 1,000 for extra withdrawals over and above 6 withdrawals per charged month. Trade/ Business accounts - Free for four(4) over the counter withdrawals, Shs 2,000 for extra withdrawals over and above 4 withdrawals charged per month. (d) Free for the 1st statement during the Month, 5000 per additional statement during the same month. (e) Account closing within 6 months Shs 20,000. (g) Local Cheque collection - Free. Up-Country Cheque collection Shs10,000. Collection of Foreign denominated cheque/draft Shs 20,000 OR subject to the maximum charge levied by the collecting bank. The up-country cheque collection charges are subject to maximum charges levied by the collective banks including their charges. Charges on unpaid cheques exclude bank charges levied by the drawee bank. (h) Small lockers 4"x4" Shs 25,000, Medium locker 8"x8" Shs 50,000, Large lockers 12"x12" Shs 100,000 each per month, Small lockers 4"x4" Shs 250,000, Medium locker 8"x8" Shs 300,000, Large lockers 12"x12" Shs 400,000 each per annum. Payment for the service is subject to a minimum period of 3 months payable in advance. Rental service for the year and above shall attract one month's free service. The locker services are subject to payment of a refundable amount of Shs 200,000. Two referees are required to access locker services. (i) Commitment and Disbursement fees subject to a minimum of Shs 50,000. (o) Maximum Shs10,000 or USD Equivalent. (p) Penalty 3% per annum. (q) L.C arrangemnet fees 0.25%. (y) Transaction Account - Minimum Deposit Shs10,000 Minimum Balance Shs5,000. Early Start Account - Minimum Deposit Shs10,000 Minimum Balance Shs10,000. Student Account - Minimum Deposit Shs10,000 Minimum Balance Shs5,000. Save as You Earn Account - Minimum Deposit Shs10,000 Minimum Balance Shs10,000. Fixed Deposit Shs1,000,000 Minimum Balance Shs1,000,000. Business Account - Minimnm Deposit Shs50,000 Minimum Balance Shs50,000. (z) Transaction Account Shs2,000 per month. Business Account Shs5,000 per month. Not Applicable for Early Start, Student, Save As You Earn and Fixed Deposit Accounts. (aa) Transaction Account 0.2% of amount withdrawn, min Shs500, Max 50,000. Early Start Account 3 free withdrawals a year then a charge of Shs5,000 for every other withdrawal. Student Account 0.1% of amount withdrawn min Shs500, max Shs50,000. Save as You Earn Account 2 free withdrawals a year then a charge of Shs5,000 for every other withdrawal. Fixed Deposit - N/A. Business Account 0.2% of amount withdrawn, min Shs500, max Shs50,000. (ab) Shs10,000 for Business, Transaction, Early start, Student and Save As You Earn accounts. For Fixed deposits, customers forfeit interest upon early closure. (ac) Inhouse Voucher 25 leaves Shs5,000 for Transaction, Student and Business accounts. Inhouse Voucher 50 leaves Shs10,000 for Transaction, Student and Business accounts. (ad) N/A for Fixed Deposit and Transaction Accounts. (ae) N/A for Fixed Deposit , Transaction, Early Start, Student and Save As You Earn accounts. (af) N/A for Fixed Deposit. (ag) Inter Account Shs3,000 and Inter Bank Shs5,000. Applies to only Business, Transaction and Students Accounts. (ah) Shs2,500 for Business and Transaction Accounts, Shs1,500 for Students Accounts and N/A for Fixed Deposit and Early Start Accounts. (ak) 1% for Ekyapa Loans, 2% for Business, Solar, Salary/ personal, Biz and Quick Loans. (ai) Shs2,000 across all branches. (aj) Shs 30,000 per Quarter for Small envelopes; Shs 40,000 per Quarter for Big Boxes and Shs 10,000 per Visit. (al) 0.25% per month for Salary/ personal and Business loans, Biz loans (SME) 2% per month. (am) Shs 5,000 for Salary/ Personal loans, Shs10,000 for Solar, Ekyaapa and Quick loans, and Shs 20,000 for Business and Biz loans. (an) N/A for Fixed and Commercial Fixed Deposit Accounts. (ao) Fixed Deposit accounts:- 60 days 5%, 90 days 7%, 180 days 9%, and 365 days and above Negotiable. (ap) Interest on Credit facilities Range from 20% - 26%. (aq) Business loans 24% flat, Group loans 36% flat, Salary loans 24% flat. (ar) Savings Deposit 5% p.a for deposits up to Shs50,000, 8% p.a for over Shs50,000. Fixed Deposit over UGX 100,000 for 1-12 months 10%, Over 12 months 13%. (au) Shs2,000,000 Fixed Deposit in local currency and $2000 (Foreign Currency). (av) UGX Prime Rate 19%, Currency Prime Rate 6.5%. (aw) N/A for Business, Fixed Deposit, Early Start and Save As You Earn Accounts. (az) Salary/ Personal consumer loans 25% p.a. (Repayment period, 6 - 36months), Biz loans (SME) 1.5% per month. (Repayment period, upto 2 years), Business Loans 25% p.a. (Repayment period, upto 3 years), Solar loans 2% per month. (Repayment period, upto 3 years), Quick loans 4% per month, Ekyapa loans 10% p.a. (Repayment period, upto 10 years). (ba) Business, Transaction and Student Accounts 0.5% p.a for balances at Shs500,000 - 4,999,999 and 1% p.a for balances >5 M, Early Start Account, 6% p.a for balances from and above Shs50,000, Save As You Earn Account 8% p.a. from and above Shs100,000, Fixed Deposits 8% p.a for balances upto UGX 500M and negotiable for balances above UGX 500M. (bb) Speedie Cash Transfer 1%, Min. Shs 5,000, Max. Shs 100,000, Speedie International (Inward Remitances) 0.5% of value Min. Shs 10,000 and Max. Shs 40,000, Speedie Citi Direct Shs10,000 (from PBU Kampala to any bank in Uganda), Speedie Shs 40,000 for PBU account holders and Shs 50,000 for non account holders (from PBU Kampala to any bank worldwide), Speedie Inter Account Transfers Shs 2,000. (bc) UGX 3 Months 3.5%, 6 Months 5.5%, 12 Months 7.5% USD 3 Months 1%, 6 Months 2%, 12 Months 5.5% (bd) Minimum of UGX 50,000 or USD equivalent. (be) 1% min. Shs50,000 or USD equivalent.
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