Equity Bank Uganda is setting the pace with a suite of digital savings products that are transforming how people think about, access, and grow their money. Gone are the days when saving meant stashing cash under a mattress or standing in long queues at a bank branch.
Today, thanks to the bank’s forward-thinking approach, saving has become not only more secure but also more flexible, accessible, and even enjoyable-no matter your location or the device you use.
A digital savings ecosystem for every Ugandan
Equity Bank Uganda has developed a robust digital ecosystem that caters to the diverse needs of its customers. Whether you’re a tech-savvy urbanite with a smartphone or a rural dweller with a basic phone, you can open and manage a savings account with ease.
The bank’s digital savings accounts are accessible through the Equity Mobile App, the online banking platform, or the simple USSD code *247#, ensuring that no one is left behind in the digital revolution.
Classic Savings Account
For individuals who value both access and growth, the Classic Savings Account offers a perfect blend. This account is designed for those who want to maintain the freedom to access their funds while still enjoying the benefits of disciplined saving.
With the Classic Savings Account, customers can make one withdrawal per week without incurring penalties, striking a balance between liquidity and commitment. The account earns competitive interest on the deposited funds, allowing savers to watch their money grow over time.
Real-time balance tracking is available through the mobile app or by dialing the USSD code, making it easy to stay updated on your financial status wherever you are. This account is ideal for anyone who wants the convenience of accessing their money when needed, without missing out on the rewards of regular saving.
Goal Savings Account
For those who are motivated by specific financial objectives, the Goal Savings Account is a game-changer. Whether you’re planning for your child’s education, a dream vacation, or a major purchase, this account is tailored to help you stay focused and disciplined.
The Goal Savings Account allows customers to set personalized savings targets and monitor their progress in real time via the Equity Mobile App. Interest on the account accrues daily, maximizing your returns and keeping your savings journey rewarding.
To encourage discipline, withdrawals are restricted and early access comes with penalties, ensuring that you remain committed to achieving your set goals. This targeted approach not only helps you save more effectively but also keeps you motivated as you watch your progress unfold digitally.
Fixed Deposit Account
For savers with an eye on the future and a desire for higher returns, the Fixed Deposit Account is the ultimate choice. This account is structured to support long-term savings by offering some of the most competitive, fixed interest rates in the market.
Customers can choose a deposit term ranging from six months to five years, during which their funds are securely locked in, ensuring uninterrupted growth. Interest can be paid at maturity or at intervals, depending on the customer’s preference.
The Fixed Deposit Account is easily opened and managed through the Equity Mobile App or online banking, making it a hassle-free option for those who want to build wealth over time without the temptation of frequent withdrawals. It is particularly suited for individuals who are saving for significant future milestones and are willing to commit their funds for a set period in exchange for higher yields.
Call Deposit Account
Not all savings needs are long-term, and that’s where the Call Deposit Account comes in. This account is designed for customers who want to earn interest on their funds while retaining the flexibility to access their money when needed.
The Call Deposit Account offers daily interest accrual, ensuring that your money is always working for you, even over short periods. Unlike traditional savings accounts, it allows for partial withdrawals without significant penalties, providing a level of liquidity that is perfect for managing short-term financial needs or unexpected expenses.
Customers can manage their Call Deposit Account through the mobile app, online banking, or by using the USSD code, making it a versatile option for anyone who values both flexibility and growth.
Benefits of going digital with Equity Bank Uganda
What truly sets Equity Bank Uganda’s digital savings products apart is the seamless blend of convenience, security, and inclusivity they offer. Opening and managing an account can be done from anywhere, at any time, using a smartphone, computer, or even a basic mobile phone.
The USSD option (*247#) is particularly revolutionary, as it eliminates the need for internet access, making digital banking accessible to even the most remote and underserved communities. This commitment to financial inclusion is helping to bridge the gap for the many Ugandans who have traditionally been excluded from formal banking services.
Security is another cornerstone of Equity Bank’s digital savings ecosystem. By moving savings from physical cash to secure digital platforms, customers significantly reduce the risks associated with theft, loss, or damage. Transactions are encrypted and accounts are protected, giving savers peace of mind.
Additionally, the ability to track balances, interest earnings, and savings progress in real time empowers customers to make informed financial decisions and stay engaged with their savings journey.
How to get started
Embarking on your digital savings journey with Equity Bank Uganda is remarkably straightforward. Smartphone users can simply download the Equity Mobile App, register, and open their preferred savings account in minutes.
For those without smartphones or internet access, dialing *247# on any mobile phone unlocks the same range of savings options, with intuitive prompts guiding you through the process. Online banking is also available for those who prefer managing their finances from a computer. The requirements are minimal-typically just a valid ID and a small initial deposit, which varies by account type.
A new era of saving
Equity Bank Uganda’s innovative digital savings solutions are more than just a convenience; they represent a fundamental shift in how Ugandans interact with their money. By making saving easy, secure, and rewarding, Equity Bank is empowering individuals and communities to take control of their financial futures.
Whether you’re saving for tomorrow, planning for a big goal, or simply looking for a safe place to grow your money, Equity’s digital savings accounts put the power of modern banking in your hands-literally.
