This post talks about which good bank can you open up an account with within Uganda.
There are roughly 25000 banks in the world, more or less — Linkedin reports.
It would be such a great thing if we were very disciplined to keep our money. That way we do not have to ask a more reliable person or bank to help us do it. Do not get me wrong, banks do more than just keep our money for us.
They offer interest. The more you keep your money with them, the more they add to what you are keeping with them. They also give out loans, and so on.
So which bank can you open up an account with in Uganda? Do you just get your money, national ID, and passport photos and move around and open up an account with the first bank you see? No! Although you are free to do so.
There are some banks you may open up an account with that are so busy. Whenever you go there, you have to wait in line. Other times you wait in a tent outside the bank. It is not a pleasant experience.
Anyways, which good bank can you open up a bank account with?
Good banks to open up an account with in Uganda
|NAME OF BANK|
|1. Absa bank Uganda|
|2. Equity bank|
|3. Centenary bank|
|4. Stanbic bank|
|5. Standard Chartered bank|
|6. Citibank Uganda|
|7. Bank of Africa|
|8. DFCU bank|
Absa Bank (previously known as Barclays Bank) provides a variety of banking products and services like loans, savings, checking, investments, and debit cards to individuals, SMEs, and large corporations. It began its operations in 1927.
Equity Bank is among the fastest-growing banks in Uganda. Starting its operations in 2008, the bank operates through a network of 33 branches and 35 ATMs throughout the country and employs over 600 staff.
Centenary Bank is a financial services provider in Uganda that is involved in commercial banking. The bank offers loans, savings, investments, checking, and debit cards to more than 1.8 million customers through a network of 77 branches and 181 ATMs and employs around 2,792 individuals.
4. Stanbic bank
Stanbic bank offers a comprehensive range of banking products and services, such as savings, loans, investments, debit and credit cards, and mortgages. It operates through a network of 69 branches, 10 customer service points, 658 point-of-sale terminals, and 175 automated teller machines.
Standard Chartered Bank was established in 1912. This makes it the oldest bank5 in Uganda. It is the first Ugandan bank to introduce the VISA Electron debit card and toll-free phone banking. It is also the first bank to be licensed to trade government securities as the main dealer in Africa, and the first to offer derivative products.
Citibank started operating in Uganda in 1999, providing a range of banking products and services including loans, savings, investments, transaction accounts, and debit cards. With the establishment of Citibank Uganda, Citigroup’s corporate banking business has become one of the largest in the country.
Bank of Africa Uganda Ltd (BOA-Uganda) is a financial services provider that was founded in 1985 as Sembule Investment Bank. A member of the Bank of Africa Group, the bank present in ten countries in Africa and also operates in France.
8. DFCU bank
DFCU Bank is the second largest of the commercial banks in Uganda. It offers several banking products and services, including loans, savings, checking, debit and credit cards, investments, and mortgages, through its network of 63 branches and 100 ATMs throughout the country.
Different banks have different interest rates and terms and conditions. It is always important to compare and contrast which terms suit you best.
Let us know in the comments which bank you prefer.