SME Account

A product for lower-tier small and medium enterprises (SMEs) in small towns of Kahama, Tabora, Iringa, Morogoro, Mbeya, Mtwara, Zanzibar, Dodoma, Moshi, and Tanga. SME Account is a non-interest bearing transactional account with fixed monthly ledger fees.

Available in Tanzania Shillings only, SME Account offers a cost-effective value proposition to SMEs in smaller townships through cost-effective banking. However, this product can only allow for Term Loan and not Overdraft provision. Any customer intending to request for Overdraft is required to upgrade to the Standard Current Account.

Target market - startups and small and medium enterprises (SMEs) / small traders with an average monthly turnover of not more than TZS 50 million.

  • Minimum balance of TZS 30,000
  • Free monthly statements
  • Free inward & outward TT confirmation
  • Access to internet banking (i24/7) and mobile banking (m24/7 for sole proprietor)
  • Free cash withdrawals with no restrictions to amount and frequency
  • Free cash deposits
  • 25 leaves cheque book at per prevailing Tariffs.
  • Currency - Tanzania Shillings
  • Opening balance - TZS 30,000
  • Minimum balance - TZS 30,000
  • Channels / accounts & information access -:
    • Cheque book
    • E-statements
    • Mobile banking (Sole Proprietorship) (m24/7)
    • Internet banking (i24/7)
  • Monthly ledger fee - TZS 10,000
  • Transaction fee: debit & credit - nil
  • Over the counter transaction fee - nil
  • Dormant account activation - free
  • Mobile Banking (m24/7) Fees -:
    • Mobile banking registrations – free
    • Monthly subscription charges – free
    • Credit alerts – TZS 50
    • Daily / Weekly / Monthly balance alerts – TZS 50
  • Internet Banking (i24/7) Fees -:
    • Internet banking registrations – free
    • Monthly subscription charges – free
    • Token fee (Soft Token) –free
    • PIN re-generation – free
  • Cheque Books -:
    • 25 leaf book - TZS 12,500
  • *All fees are subject to an 18% value added tax
1