Retail Banking

Retail Banking

The retail banking products address both personal and business banking needs. These comprise both deposit and credit products segmented as below:

a) Personal Banking services targeting low income, medium income and high net worth customers.
b) Business Banking targets all registered businesses.

What is a savings account?

A saving account product is a non-card and card based account which encourages individuals to save money for various objectives.

This is an interest bearing account with approved minimum balance as per DCB tariff. Account opening limits are subject to change from time to time as contained in the bank’s tariff guide.

Features

Minimum opening balance is TSh. 5,000 only
Minimum account balance of TSh. 20,000.
Country wide ATM card of UmojaSwitch.
ATM card can access your account anytime across our wide shared outlets of UmojaSwitch in the country.
Unlimited cash withdrawal within the minimum balance.
Access to a variety of bank’s products e.g. Loans

Benefits

Minimum opening balance
Earn competitive interest rate
Enables to save money and earn interest.
It is an ideal way to secure money for their future needs.

Requirement:

As per deposit products mandatory requirement.

Students over 18 years are encouraged to operate their own accounts for saving purposes

Features

Opening Balance TZS 5,000
Minimum operating balance TZS 5,000
No monthly fee
ATM Card ( providing 24 hours access to funds)

Benefits

Earn competitive interest rate
Easy access to 24 hr
No monthly fee
Easy to open
Very affordable

Requirements

Acceptance letter from School or University

$Description: C:\Users\assenga\Desktop\youngsaver saving acc.jpg$
This is designed to instill the habit of saving money for children below 18 years, for future use by young generation .These accounts are usually managed by parents or guardians.

Features

Designed for children within the age group 0-18 years
Access limited to Parents and Guardians only
Interest earned once a year
Statements – monthly, quarterly or half yearly
Low minimum account opening deposit Tshs 5,000
Low minimum operating balance of Tsh 20,000
Cash deposit at any branch
Cash withdraw limited once after every three months or four times per annum.
The customer will draw money from account once per quarter not more than 50 percent of total savings mantained in the account..

Benefits

Affordable
Security
Savings plan for children needs
Returns on savings, earn highest interest rate.
Convenience
Earn Bonus interest for mantaining account balance of TZS. 5.O Million for the whole year without withdrawal.
The account can be changed into personal saving account when the children reached over 18 yeras old.

Charges

-None

* Requirements

Original and copy of personal Identification for none DCB customer
For DCB customers Parent/Guardian no need of submitting introduction letter from local leader or Employer.
Birth Certificate/ Notification of birth of child/affidavit
Two quality colour Passport sized photographs of Parent/Guardian
Two quality colour passport sized photographs of Child

$Description: C:\Users\assenga\Desktop\WAHI saving acc.jpg$
WAHI is an abbreviation of Kiswahili words: Weka Akiba Kwa Hiari. It is an interest bearing saving account whereby a client saves money for a certain period of time without making withdrawals by signing a contract with the bank.

Features

Minimum saving per month TZS. 20,000
Min. Interest earning balance TZS. 50,000
Borrow against own fund, emergency loan- We maintain 80% of credit balance
Choose your saving plan period
Contractual saving with no withdrawal up to maturity period.

Benefits

Help saving growth
You get loan facility
Attractive Interest rates calculated on monthly bases or compounding factors.

Charges

-None

* Requirements

Original and copy of personal Identification
Funds to be invested
Two quality colour Passport sized photographs
Introduction letter from local leaders or employer

$Description: C:\Users\assenga\Desktop\joint saving acc.jpg$ This is an account operated with people (more than one person) of common interest of saving, not intended for business operations. It can be a business or non- business account to be operated with conditions/instructions by the parties.

Features

Opening balance TZS.50,000;
Cost of ID card TZS.3,000
More than two signatories to run the account
Minimum Balance of TZS. 20,000.

Benefits

Appealing to small business people and social groups

Easy to open
Cheap to maintain
Convenient to operate
Helps the group to plan and reach their goals

$Description: C:\Users\assenga\Desktop\fixed deposit saving acc.jpg$ Account available in TZS Fixed deposit account and Foreign Currency Fixed deposit account

Features

Minimum opening balance TZS 50,000

Tenors of 3 to 12 months

No account maintenance charges

Borrow against your fixed deposit balance

Attractive interest rates

Flexible period terms

Interest on monthly minimum balance applied annually

Foreign Currency Fixed Deposit Account Extra features

Available in USD

Tenors of 1 to 12 months.

Interest rates based on competitive global inter-bank rates

Benefits

Help savings growth

Economical

Secure deposits

Easy to open guaranteed future income

Stress free withdrawal upon maturity

Negotiable rates on amounts higher than Tsh 100 Million

Charges

No charges

* Requirements

For individual.

Funds to be invested

Fill application form

Two quality colour Passport sized photographs

Letter from local leader/employer, two passport photographs, copy of driving licence

ID- original to be viewed and copy attached

For companies

Certificate of registration, Business licence, Certificate of Incorporation- original to be viewed and copies attached.

Board resolutions to open account

Two quality colour Passport sized photographs of each signatory.

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