Tropical Stars Account is a children’s account designed mainly to secure the child’s future by saving for it, and teaching kids how to save from a young age.
HOW IT WORKS
- The Tropical Stars Account will be opened in the child’s namebut operated by the parent until the child is 18 years of age
- The account can be operated in both Uganda Shillings and US dollar currencies
- Free insurance cover up to UGX 20 million/USD 5,000, provided you maintain the insurable limit of UGX 500,000/USD 200
- No transaction charges on the account
- No monthly maintenance fees
- We send you a quarterly statement of transactions free of charge
- Access to short-term loans of up to 60% of savings at a preferential interest rate
- Free standing orders to the account
- No bank charges provided you maintain a daily balance above the required minimum.
- Initial deposit of UGX 20,000/USD 10.
- Minimum balance of UGX 20,000/USD 10
- Valid identification of sponsor (driver’s permit/passport/
- employer’s card/voters card)
- 2 passport size color photographs
- Proof of residence (LC letter/Utility bills)
- Birth certificate/ immunization card/ baptism card/passport
- 3 passport size photographs