What is a Fixed Deposit?
A fixed deposit is a financial instrument provided by banks or non-bank financial institutions which provides investors a higher rate of interest than a regular savings account, until the given maturity date.
What Is The Best Fixed Deposit Rate In Uganda
What is the current interest rate for fixed deposits in Uganda?
| Sr. No. | Tenor of the retail deposit | Rates w.e.f 01.05.2023 |
|---|---|---|
| 1. | 12 months | 9.00% |
| 2. | 24 months | 9.50% |
| 3. | 36 months | 9.75% |
Which bank has the best interest rate in Uganda?
With the Standard Chartered Bank Fixed Deposit, you can maximise the growth potential of your savings, without taking any risks.
Is fixed deposit a good investment in Uganda?
A fixed deposit is considered one of the safest and most secure forms of investment. It provides decent returns and flexibility when it comes to withdrawing funds.
This makes it a great option for those looking for a safe avenue to park their funds and simultaneously earn interest on it.