ManyaGuide Bank interest rates in Uganda 2026 – loans, savings and fixed deposits
Loans average about 18.3% a year. Deposits average about 10.8%. Fixed deposit rates are negotiable.
Interest rates in Uganda went up in October 2026 after the Bank of Uganda raised the Central Bank Rate to 12%. Here's what banks are charging and paying.
Average lending rates (shilling loans)
| Month (2026) | Average lending rate |
|---|---|
| January | 18.33% |
| February | 18.73% |
| March | 18.89% |
| April | 18.26% |
Source: Bank of Uganda data. Foreign-currency (USD) loans averaged about 7.3%. Expect shilling rates to rise after the October CBR hike.
Savings and fixed deposit rates
- The average deposit rate was about 10.8% in January 2026.
- Most banks list fixed-deposit rates as "negotiable" – the bigger the amount and the longer the term, the better the rate you can negotiate.
- Example terms: Standard Chartered requires a minimum of UGX 10m (3–12 months); Stanbic offers 1, 3, 6 and 12-month terms. Breaking a fixed deposit early usually means losing the interest.
Compare every bank's rates and charges
The Bank of Uganda publishes a quarterly sheet of every commercial bank's interest rates and charges (account fees, ATM fees, loan rates). Download the latest from bou.or.ug (search "Commercial Banks Interest Rates and Bank Charges").
Tip: with the CBR at 12%, government Treasury bills and bonds often pay more than a fixed deposit. Read how to buy Treasury bills.
Frequently asked questions
Which bank has the lowest loan interest rate in Uganda?
It changes often and depends on the loan type and your profile. Compare using the Bank of Uganda bank charges sheet and ask for an "annual percentage rate" quote.
Is interest on fixed deposits taxed?
Yes, withholding tax (usually 15%) is deducted from interest.
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