Savings Accounts

QCSMCSL offers various savings products to help members achieve their financial goals:

• Regular Savings Account
• Fixed Deposit Account
• Holiday Savings Account
• Education Savings Account

Minimum Requirements

• Minimum monthly contribution: UGX 50,000
• Minimum balance for interest earning: UGX 500,000
• Contributions are made through payroll deduction or direct deposit

Interest Rates

• Interest is calculated on the daily balance
• Interest is credited annually or upon account closure
• Current rates are displayed on our website and at our office
• Rates are reviewed annually and may change

Withdrawals

• Regular savings: Up to 3 withdrawals per year
• Fixed deposits: Withdrawal before maturity incurs penalty
• Withdrawal requests must be submitted in writing
• Processing time: 5-7 working days for amounts above UGX 1,000,000

Account Statements

Members receive:

• Quarterly statements via email or SMS
• Annual statement with interest and dividend summary
• On-demand statements available upon request

Dormant Accounts

Accounts with no activity for 12 months may be classified as dormant. A reactivation process applies before transactions can resume.

Last updated: February 2026