• Contact Us
  • About Us
  • Advertise
  • Donate
  • Login
Watchdog Uganda
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News
No Result
View All Result
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News
No Result
View All Result
Watchdog Uganda
No Result
View All Result

PostBank Uganda moves to digitize youth saving goals

Mulema Najib by Mulema Najib
8 years ago
in Business
2 0

Warning: Trying to access array offset on value of type bool in /home/90/81/2028190/web/wp-content/themes/jnews/class/Image/ImageNormalLoad.php on line 70

Warning: Trying to access array offset on value of type bool in /home/90/81/2028190/web/wp-content/themes/jnews/class/Image/ImageNormalLoad.php on line 73
ShareTweetSendShare

By Watchdog reporter

PostBank Uganda has today unveiled a youth savings account called the “PostBank Youthsave Solution”.

This product aims at financially including Youth through educating them on savings, retaining them as loyal customers and ultimately position PostBank as the preferred financial institution for the Youth.

The bank has further unveiled a unique account dubbed ‘’Goal-based saving using mobile phone and App based e-wallets” to encourage the youth to save more diligently.

Mr Alex Kayaayo, the Executive Director PostBank Uganda, said, “As part of our mandate, PostBank is dedicated to improving the economic well-being of our customers by encouraging them to develop a savings culture.

“Low savings rate coupled with high unemployment are some of the biggest challenges facing Ugandans today and we believe that Postbank’s youthsave account is a great opportunity to help youth in our community to set goals, track the set goals and save,” he added, explaining that this product will also encourage Youth in informal work roles like car washing, brick laying and domestic work to mention but a few, to access formal banking channels at zero or subsidized cost.

The YouthSave Account was developed with support of a donor, World Savings and Retail Banking Institute (WSBI) who supported the research into Youth and Student behavior and gaps that affected the saving culture.

The account uses mobile phone and internet based functionality to enable youth to access their accounts digitally, as well as learn how to save for multiple goals using a mobile phone Application.

“The youthsave account is not just a product, it is an ‘Experience’,” Said Jackie Tahakanizibwa Kwesiga, the bank’s Senior Manager Marketing and Communications. “It has mobile phone banking functionality using USSD *263*2#, it uses a play store based internet youthsave app that runs on data, teaches students and youth how to save for multiple goals using e-wallets, minimum balance is only 5000= and it allows multichannel access to the account via mobile phone, ATM or over the counter”.

How it works

Open a PostBank youthsave account for Sh5,000, sign upto use mobile phone banking services then dial*263*2# or Download the YouthSave App on Google Play and Start saving for multiple goals like school fees, rent, starting up a business, to mention but a few.

Who is eligible?

This is a digitally enhanced account for students and youth aged between 18 and 30 years.
• Student Youth – Employed or Self Employed
• Student Youth – Unemployed
• Youth – Employed or Self Employed

What functions will the YouthSave A/c App or USSD *263*2# have?

• Setting savings goals. E.g. Youth/Student Loads 500,000 UGX on their mobile phone, saves 200,000 UGX for hostel rent, 200,000 UGX for meals and 100,000 UGX for university-related fees.
• Track savings goals. E.g. If hostel rent is 500,000 UGX and student/youth has saved the 200,000 UGX above, a tracker reminds them that they have 40% of their targeted saving. **(Via App and not on USSD)
• Check account balance
• Buy airtime
• Bill payments
• Transfer money from account to mobile wallet
• Transfer funds from mobile wallet to account
• Instruct standing orders.
• Set start and end dates for savings goals
• Edit savings goals, Get a mini statement


Do you have a story in your community or an opinion to share with us: Email us at editorial@watchdoguganda.com
ShareTweetSendShare

Related Posts

Maama Janet and President Museveni visited Mrs. Fausta Nalweyiso on Monday in Kibumbiro, Busega. The President praised her dedication to the Parish Development Model through her piggery project which he found very impressive.
Agriculture

MIKE SSEGAWA: Museveni’s PDM Tour; A Journey of Connection and Transformation

14th July 2025 at 22:49
Joshua Kato
Business

JOSHUA KATO: Tax Amnesty re-introduced – A timely opportunity for businesses

10th July 2025 at 09:47
Business

Is Artificial Intelligence Beneficial or Detrimental?

10th July 2025 at 00:17
Next Post

20th woman gruesomely killed in Entebbe

  • Prostitution in Uganda- Courtesy Photo

    10 dangerous hotspots known for prostitutes in Kampala

    1137 shares
    Share 455 Tweet 284
  • Silent Billionaire Bosco Muwonge Buys Mukwano Arcade at UGX 250 Billion Cash Down

    57 shares
    Share 23 Tweet 14
  • Who is Bosco Muwonge, Uganda’s elusive real estate billionaire?

    41 shares
    Share 16 Tweet 10
  • LIST: New salary structure for civil servants starting July 2020 out; scientists, lecturers get juicy pay rise

    2291 shares
    Share 916 Tweet 573
  • Uganda’s Billionaires 2025: Once Again Sudhir Ruparelia Leads a Resilient Pack

    52 shares
    Share 21 Tweet 13
Facebook Twitter

Contact Information

Watchdog Uganda is a portal for solution journalism, trending news plus cutting edge commentaries in the fields of politics, security, business, tourism, entertainment, technology, agriculture, climate change, environment, public health et al. We also give preference to Ugandan community news and topical discussions. The portal also publishes community news and topical discussions.

Email: editorial@watchdoguganda.com
To Advertise:Click here

Latest News

President Museveni advocates for group-owned companies among artisans 

15th July 2025 at 22:59
Mashable is a global, multi-platform media and entertainment company For more queries and news contact us on this Email: info@mashablepartners.com

Check out

  • Trending
  • Comments
  • Latest
Minister Muruli Mukasa

LIST: New salary structure for civil servants starting July 2020 out; scientists, lecturers get juicy pay rise

24th May 2020 at 10:45
Pregnant woman

Shock as 17-year old boy impregnates his two sisters during Covid-19 lockdown 

17th June 2020 at 08:17
Sudhir Ruparelia is the undisputed king of Kampala

Billionaire Sudhir’s wisdom on how to invest in real estate

0

How a boy’s destiny turned from cotton grower to communications guru

0

President Museveni advocates for group-owned companies among artisans 

15th July 2025 at 22:59

President Museveni flags off reconstruction of Salaama-Munyonyo road, emphasizes accountable leadership and wealth creation 

15th July 2025 at 22:54

© 2025 Watchdog Uganda

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News

© 2025 Watchdog Uganda