A savings product for minors under the age of eighteen. The product is designed to instill the discipline of saving in children while also helping guardians / parents save towards turning their children's dreams a reality. This product is available in Tanzanian Shillings and United States Dollars only. Customer enjoy two withdrawals annually while still keeping the interest on savings

Target Market - children under the age of eighteen (minors).

  • Consideration of competitive rates on fixed deposits
  • Building a savings culture within children
  • Two withdrawals per year while still keeping the interest
  • Interest rates
    • TZS 5% pa
    • USD 1% pa
  • Free internal transfers
  • Currency - Tanzania Shillings & United States Dollars (TZS & USD)
  • Opening amount - TZS 50,000 / USD 250
  • Minimum balance - TZS 50,000 / USD 250
  • Monthly ledger fees - nil
  • Ledger fees - nil
  • TZS Withdrawals (Over the counter) - free
  • Foreign currency cash deposits above 10,000 at 0.5%
  • USD withdrawals -:
    • Withdrawals up to USD 10,000 - free
    • Withdrawals from USD 10,001 - 0.5%
    • Cash handling denominations less than USD 50 - 5%
  • *All fees are subject to an 18% value added tax
  • *Exchange rates are subject to change depending on market availability
product_id
5