Ultimate Salary Account
With our Ultimate Salary Account, you get a bank account that has bundled services and all the banking utilities you might need in one account.
Initial deposit of UGX50,000 required
Monthly fee of UGX8,500
- Free salary processing
- Debit card that is accepted worldwide on VISA ATMs and POS machines
- Life cover of up to UGX1 million
- Retrenchment cover of up to UGX300,000 for 3 months
- Access to internet and mobile banking
- Real-time cash deposits at ATMs
- Free Absa ATM transactions
- Free digital banking
You willl not be eligible for benefits under this policy:
- If the life assured is self-employed or an employee of a family-owned business and a member of the same family
- In respect of unemployment occurring due to:
- The expiry of a non-renewable fixed-term contract
- A contract of temporary or casual nature
- Fair or unfair dismissal in terms of the contract of employment
- If the claim is as a result of pregnancy, childbirth or abortion
- If unemployment is due to fraud, dishonesty or any illegal conduct on the part of the life assured
- In respect of unemployment as a result of the life assured’s participation in any strike action, labour disturbance, unrest, political activity, civil commotion, public disorder or riot
You fill in claims form, attach all required documents and submit all to the branch manager within 30 days after the occurrence of the event in case of retrenchment. You should adhere to the 6 months' waiting period and a salary must have been paid into your account for at least 6 consecutive months.
- Claim form duly filled by the life assured
- Documentary proof of such retrenchment stating clearly the reason for the same
- At least one original payslip in the past 5 months prior to loss of job
- Bank statement for the life assured for the 3 months prior to the loss of job
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