Is Your Money Safe in a Ugandan Bank? DPF Protection, Explained (2026)

Deposits at licensed Ugandan institutions are insured by the Deposit Protection Fund of Uganda (DPF) — automatically, up to a statutory limit. Here's what it covers, what it doesn't, and how to position money so all of it sits inside the protection.

How DPF cover works

• Automatic — every deposit at a Bank of Uganda-licensed bank, credit institution or deposit-taking MFI is covered; you don't register or pay.
• Per depositor, per institution, up to UGX 10 million — with your accounts at that institution amalgamated, and any non-performing loans netted off first. This limit has stood since September 2019 (raised then from UGX 3 million), and the DPF reports that 98.53% of all deposit accounts are fully covered at it. In July 2026 the DPF announced it is seeking to double the limit to UGX 20 million per depositor, per bank — a proposal to the Ministry of Finance, not yet in force. (Per dpf.or.ug as at 19 July 2026 — )
• Paid on failure: when the BoU closes an institution, the DPF pays insured depositors; amounts above the limit become liquidation claims.

What's NOT covered

• Amounts above the limit at a single institution.
• Mobile-money balances — MTN MoMo and Airtel Money float is safeguarded under the National Payment Systems Act's trust arrangements, a different mechanism — .
• SACCOs and investment products — co-operative savings and unit trusts follow their own regimes; no DPF cover.
• Unlicensed schemes — no register, no protection. Full stop.

Positioning your money

1. Keep balances under the limit per institution; split larger cash across licensed banks.
2. A deposit-taking MFI's attractive rate is protected only to the same limit — that number defines the safe size of the bet.
3. For sums above the limit, government securities via licensed channels are the cleaner answer — .

Frequently asked questions

Has the DPF actually paid depositors? Uganda has resolved failed institutions through the BoU with depositor payouts — .

Are dollar accounts covered?

Bank or SACCO? Different protection entirely: the bank gives you DPF insurance to a limit; a SACCO gives you member-governance and no deposit insurance. Know which trade you're making.

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