If you are looking for a recurring deposit scheme which offers high-interest rates on low-risk investments, DTB bank is your destination.
The Recurring Deposit account encourages one to save regularly (a fixed sum of money on a monthly basis). The amount is to be paid on the same date every month.
The maturity value of the customer savings can be placed in Fixed Deposit after maturity and the customer can start saving once again in (New RD).
This is mainly to help the customer take care of school fees, higher education, and planned outflow at a future date, etc.
- Interest to be earned (FDR rate as applicable):
- UGX: 12% (as per prevailing rate)
- USD: 2% (as per prevailing rate)
- Interest rate is based on tenure and currency (UGX and USD)
- Minimum one year (any period in multiple of three months after one year, such as fifteen months, eighteen months etc)
- Maximum three years
- Minimum balance for take-down account as per account class
- Minimum balance for recurring deposit UGX:
- UGX 50,000 per month then after multiples of UGX 10,000/=
- USD $50 per month