Diamond Trust Bank (DTB) has relaunched its Kids’ Winner Savings Account, introducing an integrated life assurance component in a move aimed at strengthening financial security for children and their families.
The product, developed in partnership with Jubilee Life Insurance, combines long-term savings with insurance protection to cushion beneficiaries against unforeseen life events. The bank says the enhancement is part of its broader strategy to promote financial inclusion and instill a culture of disciplined saving among young Ugandans.
The account allows parents and guardians to save on behalf of children under the age of 18, with a minimum opening balance of Shs 50,000 and up to four free withdrawals annually. Customers maintaining balances above Shs 100,000 are eligible for annual interest earnings.
To qualify for the insurance cover, account holders are required to maintain a monthly balance of at least Shs 300,000 and make a minimum of one deposit per month.
Speaking at the relaunch, DTB Chief Executive Officer Godfrey Sebaana said the product reflects the bank’s commitment to offering solutions that merge financial growth with protection.
“As parents, our greatest ambition is to ensure that our children’s potential is never limited by unforeseen circumstances. By combining savings growth with the certainty of protection, we are providing a strong safeguard for a child’s education and future,” Sebaana said.
He added that the initiative is also intended to build a financially responsible generation. “This relaunch is a deliberate step toward nurturing financial literacy among young people. We want to see children grow up with a clear understanding of the value of saving and prudent financial management,” he noted.
The insurance package provides a range of benefits, including education support of up to four times the average quarterly account balance. Coverage is capped at Shs 10 million in the event of natural death and Shs 5 million in cases of disability.
In addition, the product offers retrenchment support, where customers can receive payouts equivalent to two times their average monthly savings for up to three months following involuntary job loss, subject to a maximum of Shs 5 million.
Policyholders are also eligible for hospital cash benefits of Shs 30,000 per day for admissions exceeding three days, alongside a child last expense benefit of Shs 500,000.
Jubilee Life Insurance Acting Chief Executive Officer Eugine Mutekhele said the partnership underscores the insurer’s commitment to protecting long-term family aspirations.
“At Jubilee Life Insurance, our purpose is to safeguard the ambitions that families work hard to build. This partnership with DTB ensures that children’s dreams remain protected, regardless of life’s uncertainties,” Mutekhele said.
He added, “By integrating comprehensive life assurance into a savings product, we are offering more than just a financial solution—we are providing stability, certainty, and a secure foundation for the next generation.”
The lender says the revamped account is expected to enhance uptake of child-focused financial products while deepening the savings culture among households.
