Compare bank accounts in Uganda

By the Rateweb editorial team · How we rate · Product details checked 2 Aug 2026

Compare current and savings accounts from banks and licensed digital banks in Uganda on fees, transfer charges and app features.

⭐ Ratings & awards are Rateweb's independent editorial opinion — how we rate.

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6 results
Widest branch reach

Centenary Bank Cente Current Account

A conventional chequebook current account from one of Uganda's largest retail banks, with a low minimum balance once opened. Centenary is a Bank of Uganda supervised commercial bank and deposits are covered by the Deposit Protection Fund of Uganda up to UGX 10 million.
★★★★☆
4.1/5 · How we rate
Ledger fees apply; Centenary's product page states the account 'attracts ledger fees' but does not publish the amount
Monthly Fee
Commercial bank supervised by Bank of Uganda; deposits protected by the Deposit Protection Fund of Uganda to UGX 10 million
Licence
Salaried people and traders who want branch, agent and cheque access outside Kampala
Best For
bank
Type
Pros
  • Centenary publishes a UGX 10,000 minimum operating balance for individuals, which is low for a cheque-capable current account
  • Access through CenteMobile, CenteOnline and a CenteVISA debit card, so day-to-day use does not need a branch
  • Large branch and agent footprint, which matters if you bank in cash or upcountry
Cons
  • The bank does not publish the ledger fee on the product page, so you cannot price the account before you walk in
  • Individuals need a referee (an existing customer, employer, lawyer, clergy, doctor or local authority) to open it
  • A UGX 100,000 opening deposit is steep next to savings accounts that open for a tenth of that
Fees, eligibility & documents
Fees
Minimum opening deposit (individuals)UGX 100,000, per Centenary's product page
Minimum operating balance (individuals)UGX 10,000, per Centenary's product page
Eligibility
  • Individual, company, partnership, society or club resident in Uganda
  • One referee who is a Centenary customer, employer, lawyer, clergy member, doctor, headmaster or other acceptable local authority
  • Ability to fund the opening deposit
Documents needed
  • Two passport-size photographs
  • Valid National ID, or passport carrying a National Identification Number
  • Opening cash deposit
Visit Centenary Bank
One flat fee

Absa Bank Uganda Single Fee Account

A bundled current account that charges one published monthly fee instead of a menu of per-transaction charges, with free ATM and counter transactions and a bancassurance wrapper. Absa Bank Uganda Limited states on its own site that it is regulated by the Bank of Uganda and that deposits are protected by the Deposit Protection Fund up to UGX 10 million.
★★★★☆
3.9/5 · How we rate
UGX 28,000, published by Absa
Monthly Fee
Regulated by Bank of Uganda (company registration number 4227); deposits protected by the Deposit Protection Fund to UGX 10 million; bancassurance regulated by the Insurance Regulatory Authority of Uganda
Licence
People who transact often enough that a single predictable fee beats per-item charging
Best For
bank
Type
Pros
  • The fee is published up front, which is rarer than it should be in Ugandan retail banking
  • Free ATM withdrawals, free counter transactions and a free welcome chequebook are bundled in
  • Includes life, permanent total disability, last expense and hospital cash cover through Absa's bancassurance arm
Cons
  • At UGX 28,000 a month the account is poor value if you make only a handful of transactions
  • The insurance is a bancassurance product with its own terms and its own regulator, not a banking guarantee
  • Absa is absorbing Standard Chartered's Uganda retail book, so service levels and product terms may move during integration
Fees, eligibility & documents
Fees
Monthly feeUGX 28,000, per Absa's account page
Initial account depositMinimum UGX 15,000, per Absa's account page
Eligibility
  • Individual aged 18 or over with valid Ugandan identification
  • Foreign nationals need a passport plus a valid visa or work permit; refugees may use a refugee ID
Documents needed
  • National ID, Ugandan passport, or driving permit carrying a NIN
  • Passport plus valid visa or work permit (non-citizens), or refugee ID
  • Passport-size photograph
Visit Absa Bank Uganda
No minimum balance

Equity Bank Uganda Ordinary Account

A low-friction transactional and savings account that Equity Bank Uganda states has no ledger fee, no initial deposit and no minimum operating balance. Equity Bank Uganda Limited states on its own site that it is regulated by the Bank of Uganda and that deposits are protected by the Deposit Protection Fund of Uganda up to UGX 10 million.
★★★★☆
4.0/5 · How we rate
Equity's page states there are no ledger fees; other transaction charges are set out in the bank's tariff guide
Monthly Fee
Regulated by Bank of Uganda (company number 52619); deposits protected by the Deposit Protection Fund of Uganda to UGX 10 million
Licence
First-time account holders and anyone who cannot lock money up in a minimum balance
Best For
bank
Type
Pros
  • No minimum operating balance and no initial deposit, so the account costs nothing to keep open
  • Opens on a National ID alone, with USSD (*247#) and app onboarding available
  • Equity states interest is paid annually, which is unusual on an entry-level account
Cons
  • Equity does not publish the interest rate on the product page, so the return is unknown until you ask
  • The ATM card is issued on application rather than automatically
  • Only one free statement a year; everything else is chargeable under the tariff guide
Fees, eligibility & documents
Fees
Ledger fee and initial depositNone, per Equity Bank Uganda's product page
StatementsOne free statement per year plus free email statements, per Equity's product page
Eligibility
  • Individual resident in Uganda holding a National ID
  • No minimum balance or opening deposit required
Documents needed
  • Original National Identification Document (National ID)
Visit Equity Bank Uganda

dfcu Bank Standard Personal Account

A multi-currency personal current account from a long-established Ugandan bank, issued with a chequebook and Visa debit card at opening and available in shillings, dollars, sterling and euro. dfcu Bank is a commercial bank supervised by the Bank of Uganda.
★★★★☆
3.8/5 · How we rate
Not published on the product page; dfcu refers customers to its separate tariff guide
Monthly Fee
Commercial bank supervised by Bank of Uganda; deposits protected by the Deposit Protection Fund of Uganda to UGX 10 million
Licence
People who hold or earn in more than one currency and want it in one bank
Best For
bank
Type
Pros
  • Available in UGX, USD, GBP and EUR, which suits anyone paid or billed in foreign currency
  • Chequebook and Visa debit card issued on opening rather than on request
  • Can be opened remotely through dfcu QuickApp or QuickOnline
Cons
  • The monthly fee is not on the product page, so the running cost is opaque until you read the tariff
  • Foreign-currency opening balances are high (USD, GBP or EUR 200) compared with the shilling version
  • dfcu's premium bundled accounts carry substantially higher monthly fees; check which tier you are being sold
Fees, eligibility & documents
Fees
Opening balanceUGX 50,000, or USD 200 / GBP 200 / EUR 200, per dfcu's product page
Monthly account feeNot published on the product page; see dfcu's tariff guide
Eligibility
  • Individual aged 18 or over resident in Uganda
  • Valid National ID or passport
Documents needed
  • Two passport photographs
  • National ID or passport
Visit dfcu Bank

Stanbic Bank Uganda Everyday Banking Account

Stanbic's entry-level transactional account, part of a current-account range that also includes Gold, Karibu, student and diaspora tiers. Stanbic Bank Uganda is a commercial bank supervised by the Bank of Uganda.
★★★★☆
3.9/5 · How we rate
Not published on the account listing page; Stanbic publishes a Key Facts Document (KFD) per account
Monthly Fee
Commercial bank supervised by Bank of Uganda; deposits protected by the Deposit Protection Fund of Uganda to UGX 10 million
Licence
People who want a large branch and ATM network plus a well-built mobile app
Best For
bank
Type
Pros
  • Sits inside a full ladder of accounts, so you can move tier without changing bank
  • Mobile and online banking cover school fees, URA taxes, utilities, pay TV and mobile-money transfers
  • Stanbic publishes a Key Facts Document for each account, which is the clearest fee disclosure of the big Ugandan banks
Cons
  • Fees are not on the account listing page; you have to open the KFD for each product
  • The higher tiers (Gold, Private) carry materially higher monthly charges
  • As a large bank, branch queues at month-end are a real cost of using it in cash
Fees, eligibility & documents
Fees
Monthly feeNot published on the listing page; see the account's Key Facts Document
Minimum opening balanceNot published on the listing page; see the account's Key Facts Document
Eligibility
  • Individual aged 18 or over resident in Uganda
  • Valid National ID, or passport for non-citizens
Documents needed
  • National ID or passport
  • Passport-size photographs
Visit Stanbic Bank Uganda
Most-used wallet

MTN MoMo Uganda

For millions of Ugandans MoMo is the everyday account: send and receive, pay bills, school fees, URA taxes and merchants, and receive international remittances. It is a mobile wallet, not a bank account, so bank deposit protection does not apply to it.
★★★★☆
3.9/5 · How we rate
No monthly fee; MoMo charges per transaction under a published tariff
Monthly Fee
Mobile money is operated by a separate entity from the telco under Uganda's National Payment Systems Act, 2020; MTN's MoMo page names the Uganda Communications Commission as MTN Uganda's regulator and does not state a Bank of Uganda licence on that page
Licence
Anyone who needs to move money without a branch, and to receive remittances from abroad
Best For
mno
Type
Pros
  • Accepted almost everywhere in Uganda, from market stalls to URA payments and airline tickets
  • MTN's page states that MoMo is linked to over 100 money transfer agencies for receiving from abroad
  • Agent network reaches places no bank branch does, and works on a basic handset via *165#
Cons
  • A wallet is not a bank deposit; the Deposit Protection Fund covers deposits at Bank of Uganda licensed banks, credit institutions and MDIs, not mobile wallets
  • Withdrawal and send fees are charged per transaction and add up quickly on small, frequent movements
  • The attached credit products (MoMo Advance, MoKash) are short-tenor and expensive; see our lending entries
Fees, eligibility & documents
Fees
Monthly account feeNone; MoMo is charged per transaction
Transaction chargesSet out in MTN's separate Mobile Money Tariffs schedule; not published on the MoMo landing page
Eligibility
  • Registered MTN Uganda SIM in your own name
  • Registration in line with Uganda's SIM and KYC registration rules
Documents needed
  • National ID with National Identification Number
  • Registered MTN SIM card
Visit MTN MoMo

Ratings are Rateweb's editorial opinion. Product details can change — always confirm with the provider before applying. Rateweb may earn a commission on some applications. This is general information, not financial advice.

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