Faraja Account

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 on balances from TZS 500,000 and above
    • TZS 5% pa
    • USD 1% pa
  • Mastercard debit card (in TZS Only)
  • TZS 100 on ATM cash withdrawal (within DTB domain)
  • Free over the counter transactions
  • Free internet banking (i24/7) - access to view option only
  • Access to Mobile Banking (m24/7)
  • 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 (m24/7) / Internet banking (i24/7)
  • Debit card - Mastercard
    • New card issuance fee - free
    • New PIN request / reset - free
    • 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
  • Withdrawal Fees -:
    • Cash withdrawal - DTB ATM per withdrawal TZS 100
    • Free cash withdrawal over the counter
    • Other bank ATM withdrawal - in Tanzania TZS 3,000
    • Other bank ATM withdrawal - Outside Tanzania TZS 5,000
  • USD withdrawals -:
    • Withdrawals up to USD 10,000 - free
    • Withdrawals from USD 10,001 - 0.5%
    • Cash handling denominations less than USD 50 - 5%
  • Mobile Banking (m24/7) Fees -:
    • Mobile banking registrations - free
    • Monthly subscription charges - free
    • Credit alerts - free
    • Daily / Weekly / Monthly balance alerts - TZS 50 / USD 0.10
  • Internet Banking (i24/7) Fees -:
    • Internet banking registrations - free
    • Monthly subscription charges - free
    • Token fee (Soft Token) - free
    • PIN re-generation - free
  • *All fees are subject to 18% Value Added Tax
  • *Cash handling and cheque fees care applicable
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