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Compare savings and investment options in Uganda

Not sure where to start? Enter an amount and when you'll need it. See what each option would do with your money, how to get it out, and the main risk.

When will you need the money?

What UGX 1,000,000 could earn over a year

Options that suit this time frame. Sorted by the after-tax result; options whose tax we're still confirming come last, before tax.

  1. 1.

    Treasury bill, 1 year

    Rate used: 14.50% from the 364-day auction, 21 Oct 2026 (BoU auction results)

    UGX 122,362

    interest, after tax

    UGX 1,122,362 in total

    Minimum to start
    UGX 100,000
    Getting your money out
    At maturity. Can be sold earlier through a bank.
    Main risk
    Low: a loan to the government. The rate is fixed until maturity.
    RatesHow to buy treasury billsTalk to a dealer bank

  2. 2.

    NSSF Smartlife Flexi

    Rate used: 13.25% average a year since November 2024, 1 Jan 2026 (NSSF fact sheet)

    UGX 140,850

    interest, before tax

    UGX 1,140,850 in total

    We're confirming how this is taxed.

    Minimum to start
    UGX 5,000 a deposit
    Getting your money out
    Locked for the first year, then any time (NSSF terms).
    Main risk
    Low. Returns are not guaranteed and vary month to month.
    Rates

  3. 3.

    Money market fund

    Rate used: 12.55% Old Mutual Umbrella Trust Fund, Old Mutual only, 20 Oct 2026 (Old Mutual Uganda fund prices)

    UGX 132,977

    interest, before tax

    UGX 1,132,977 in total

    We're confirming how this is taxed.

    Minimum to start
    Set by each fund
    Getting your money out
    Usually within a few working days. Check the fund's terms.
    Main risk
    Low, but not guaranteed. The yield moves with interest rates.
    RatesWhat is a money market fund?Talk to a fund manager

  4. 4.

    Bank fixed deposit

    Rate used: 12.38% typical top rate (median of banks' maximums), 1 Apr 2026 (BoU bank rate sheet)

    UGX 131,016

    interest, before tax

    UGX 1,131,016 in total

    We're confirming how this is taxed.

    Minimum to start
    Varies by bank
    Getting your money out
    Locked until the end of the term. Leaving early usually costs interest.
    Main risk
    Low. Protected up to the Deposit Protection Fund limit per bank.
    RatesUnit trusts or fixed deposits?Talk to a bank

Rates change. This assumes today's rates stay the same, which they won't.

General information based on today's published rates, not advice for your situation.

How we calculate this

For each option that fits your time frame we grow your amount at today's published rate, monthly, for the time you chose, adding any monthly top-up. Treasury bills are treated as rolled over at the same rate; bonds as held.

Tax comes from one confirmed list. Treasury bills and bonds are after withholding tax. Funds, fixed deposits and NSSF Smartlife are before tax until we confirm their rules, and they sort after the after-tax rows so the ranking is fair.

Rates change. This assumes today's rates stay the same, which they won't.

Worked example

UGX 1,000,000, needed in a year, no top-ups.

Treasury bill, 1 year at 14.50%
UGX 122,362 after tax
Money market fund at 12.55%
UGX 132,977 before tax
Bank fixed deposit at 12.38%
UGX 131,016 before tax
NSSF Smartlife Flexi at 13.25%
UGX 140,850 before tax

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