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).
Benefits
- 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
Features
- 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
Charges
- 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
