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Kampala, Uganda | THE INDEPENDENT | Housing Finance Bank has unveiled the HFB Trust Savings Account, a new savings solution designed to help customers grow their money while providing built-in financial protection through a range of insurance benefits.
The new product reflects the Bank’s commitment to offering innovative financial solutions that respond to the changing needs of customers, who are increasingly looking for savings products that go beyond preserving capital to delivering greater value and long-term financial security.
As more individuals plan for milestones such as education, home ownership, business growth and family wellbeing, the demand for savings solutions that combine attractive returns with financial protection continues to grow. The HFB Trust Savings Account has been developed to meet this need by rewarding disciplined saving while providing peace of mind against life’s uncertainties.
The account offers tiered interest rates ranging from 7% to 10% per annum, with interest calculated daily, credited monthly and compounded to maximise savings growth. In addition to competitive returns, customers benefit from embedded insurance cover that includes life insurance of up to four times the account balance, capped at UGX 25 million, travel insurance for up to five trips, funeral support and hospitalisation benefits.
Speaking at the launch, Christopher Ssebugenyi, Head of Products at Housing Finance Bank, said customers today are seeking financial solutions that deliver both growth and protection.
“Customers today expect more from their savings. They want solutions that reward financial discipline while providing reassurance that they and their families are protected against life’s uncertainties. The HFB Trust Savings Account was developed to meet those expectations by combining attractive returns with practical insurance benefits in a single offering. It is a solution that encourages purposeful saving while giving customers greater confidence in their financial future,” Ssebugenyi explained.
The Trust Savings Account is available to individuals aged 18 years and above and can be opened with a minimum balance of UGX 50,000. Customers can make deposits at any time through Housing Finance Bank’s mobile and internet banking platforms, enabling them to save consistently and grow their funds conveniently without visiting a branch.
The launch supports Housing Finance Bank’s broader retail banking strategy of strengthening customer relationships, promoting a stronger savings culture and expanding access to innovative financial products that improve long-term financial wellbeing. It also reinforces the Bank’s commitment to serving as a trusted financial partner for individuals and families at every stage of their financial journey.
The HFB Trust Savings Account is available at all Housing Finance Bank branches nationwide as well as through the Bank’s digital banking channels.
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