Kibubu Account
A savings product for persons intending to save for future expenses. Saving plan for annual rentals, school fees, holiday trips, loan repayments, and other planned regular expenses. The product is designed for salaried and non-salaried persons.
A recurring deposit is a systematic monthly saving to a bank account in which the account holder tracks with set goals on returns at the end of the chosen savings period/fixed deposits.
Account Overview
A savings product for persons intending to save for future expenses. Saving plan for annual rentals, school fees, holiday trips, loan repayments, and other planned regular expenses. The product is designed for salaried and non-salaried persons.
A recurring deposit is a systematic monthly saving to a bank account in which the account holder tracks with set goals on returns at the end of the chosen savings period/fixed deposits.
Account Benefits
Discover the advantages of banking with Kibubu Account:
A minimum period of six months, a maximum of five years
Available in Tanzanian Shillings and United States Dollars
Minimum of TZS 20,000 and USD 500
Competitive interest rates. Joint accounts allowed.
Corporates / sole proprietors / partnerships can also open the account
Loan available against the deposit
Account Features
Access a comprehensive suite of banking services and tools:
Currency - Tanzanian Shillings and United States Dollars (TZS & USD)
Opening/Minimum balance - TZS 20,000 & USD 500
Opening balance - TZS 20,000
Monthly ledger fees - nil
Channels / accounts & information access - n/a
Charges & Fees
Transaction charges vary based on amount bands. All charges are subject to applicable taxes.
Ledger fees - nil
Net interest shall be charged 10% withholding tax
Maturity matrix
| 6 months | 12 month | 24 months | 36 months | 48 months | 60 months |
|---|---|---|---|---|---|---|
TZS | 3% | 5.50% | 6.50% | 7% | 7% | 7% |
USD | 0.25% | 2.25% | 2.50% | Not available | Not available | Not available |
Documents & Forms
Download the necessary documents to apply for this account:
