product term

A unique savings product tailored for senior citizens from the age of fifty-five. The senior citizens can earn income on a monthly basis from their retirement benefits kept in Faraja Account. The product is available in major currencies of Tanzanian Shillings and United States Dollars.

Target market - senior citizens from the age of fifty-five.

  • No minimum balance / no monthly ledger
  • Availability in two major currencies - TZS & USD
  • Interest paid monthly
  • Free Visa ATM debit card (no annual charges)
  • TZS 100 on ATM cash withdrawal (within DTB domain)
  • Free over the counter transactions
  • Free monthly e-statements
  • Free internet banking - access to view option only
  • Access to mobile banking
  • Free ATM card Visa / Mastercard debit card
  • 10% discount on safe deposit locker services
  • Currency - Tanzanian Shillings and United States Dollars (TZS & USD)
  • Minimum balance - nil
  • Opening balance - nil
  • Channels / accounts & information access - mobile banking, internet / online banking
  • Interest rate of TZS 5% & Usd 0.5 % p.a. - (on average monthly balance from TZS 500,000 & Usd 500,000)
  • Debit card - Visa / Mastercard
  • New card issuance fee - free
  • New PIN request / reset - TZS 3,000
  • Card replacement - TZS 10,000
  • Cards uncollected and destroyed - TZS 10,000
  • Capture card fee - in DTB ATM’S - TZS 1,000
  • Annual fees - TZS 3,000
  • USD withdrawals -:
    • Cash withdrawal - DTB ATM per withdrawal TZS 750
    • Other bank ATM withdrawal - in Tanzania TZS 3,000
    • Other bank ATM withdrawal - outside Tanzania TZS 5,000
  • *Cash handling and cheque fees care applicable
product_id
8