By Guest Writer
Housing Finance Bank has introduced the HFB Trust Savings Account, a new savings solution that combines competitive interest earnings with built-in insurance benefits, giving customers a smarter way to save for the future while protecting what matters most.
The new offering reinforces the Bank’s commitment to developing solutions that respond to the evolving needs of customers, many of whom are looking for savings products that do more than preserve capital. As individuals become increasingly intentional about planning for education, home ownership, business opportunities and family security, they are seeking solutions that not only grow their savings but also provide greater financial protection and peace of mind.
Developed with these needs in mind, the HFB Trust Savings Account offers tiered interest of 7% to 10% per annum, with interest calculated daily, credited monthly and compounded to maximise savings growth. In addition to competitive returns, the account includes a suite of embedded insurance benefits, including life cover 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. Together, these features make it a differentiated savings solution in Uganda’s retail banking market.
Commenting on the new Trust Savings Account, Christopher Ssebugenyi, Products at Housing Finance Bank, said:
“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.”
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 additional deposits at any time through Housing Finance Bank’s mobile and internet banking platforms, making it easier to save consistently and grow their funds without visiting a branch.
The Trust Savings Account supports Housing Finance Bank’s broader retail banking strategy to deepen customer relationships, promote a stronger savings culture and expand access to innovative financial solutions that enhance long-term financial wellbeing. It also reflects the Bank’s commitment to being a trusted financial partner for individuals and families at every stage of their financial journey.
The HFB Trust Savings Account can be opened at any Housing Finance Bank branch nationwide and through the Bank’s digital banking channels.
