Regardless of who you are, our Tropical Money Box is designed to help you build your reserves through consistent monthly easy savings, enhanced by high interest rates credited to your box every end of month.
HOW DOES THE TROPICAL MONEY BOX WORK?
- The Box should start with a minimum of UGX 50,000 at any Tropical Branch, for a specific contract period of 1 year up to 5 years.
- A minimum saving of UGX 50,000 should be deposited in the Box every month during the contract period.
- Withdraws from the Box shall not be allowed during the contract period.
- The Box matures at the end of the selected contract period
WHAT ARE THE BENEFITS OF THE MONEY BOX?
- Receive escalating interest on the monthly balances of not less than 4.0% per annum; Monthly interest shall be deposited into the Box at the end of each month
- Interest rates shall increase for the Boxes with savings higher than UGX 1,200,000 per year
- All Box transactions free of charge
- Money Boxes for contract period of five years automatically qualify for an unsecured soft loan of up to 60% of the total balance, to finance a viable project at a low prevailing interest rate
- The balance of the Money Box can be used to guarantee any borrowings by the holder and/or third party at any time
MATURITY VALUES AT THE END OF EACH CONTRACT PERIOD
The table below shows how your money will grow in the Box and the balance at maturity of the selected contract period with the minimum monthly deposit of UGX 50,000
Contract period of five years shows the balance at maturity including the unsecured soft term loan.