Stanbic Bank Educare offers a high rate of interest on savings and insurance that can be used for the education of children or for other purposes.
In This Article:
Educare savings and insurance from Stanbic Bank gives you a high interest rate by allowing you to set aside money for your children’s education or other specific purposes.
In the event of your death or long disability, life insurance is automatically provided to cover your target savings amount.
Benefits of Stanbic Educare Savings and Insurance account
- With the most affordable interest rates, you will increase the returns on your money.
- In the tragic event that the primary contributor passes away or becomes permanently disabled, the goal amount is paid.
- In the tragic event that the primary contributing member passes away, the beneficiary receives the entire target savings amount.
- Upon the tragic loss of the primary contributing member, funeral expenses are covered up to Ugx 750,000.
- When the primary contributing member is laid off, Stanbic Bank can compensate you with up to three times their monthly premium.
- Payment will be made within 48 hours, assuming that Stanbic Bank has received the necessary claim documentation on time.
- Stanbic Bank’s customer care team is available around-the-clock.
Account opening requirements for Stanbic Bank Educare
- You should have a transactional or savings account with Stanbic Bank.
- You should be between 18 to 69 years.
- For the insurance coverage to begin in, you must open an Educare Account with Stanbic Bank.
- You simply figure out how much it will cost you for your kids’ tuition at the schools you want them to attend, and then you start saving toward that goal sum.
Charges for the Stanbic Bank Educare Savings
- No monthly charges
- The minimum monthly saving is 20,000/=
- The Minimum Target savings amount of UGX 720,000.
- The Minimum savings period is 3 months and the maximum savings period is 18 years
Conclusion
Anyone with children or even without can start saving now for the future. Stanbic Bank Educare Savings and insurance comes with benefits such as targeted savings and interest amount paid in the death of the account holder.
Additionally, UGX 750,000 is paid to take care of funeral arrangements and more. To apply, simply visit your nearest branch to open an Educare account.
