BAMBA ACCOUNT

Bamba Account aimed at attracting savings with a 5% annual interest rate.

Target Market MSMEs ( Micro, Small, Medium Enterprises)

Key Features:

• Opening balance requirement of TZS 100,000/= and above.
• Annual interest rate of 5% on eligible balances.
• Multiple deposits/withdraws allowed per month.
• Access to emergency loans up to 80% of the credit balance.
• Minimum earning balance of TZS 2,000,000/= for company and TZS 1,000,000/= for sole proprietor(personal).
• No monthly charges.
• Withdraw charges are TZS 7,500 for company current account and TZS 5,000 for sole proprietor(personal).
• Other charges of the product inherit the existing current company/personal account charges.
• Daily SMS alerts about interest that has accumulated on your DCB balance.

Requirements:

• Original and copy of personal identification.
• Two passport-sized photos.
• Nida ID or NIDA Number.
• Relevant business documents including:
• TIN (Tax Identification Number)
• Business license - Registration documents
• MEMART (Memorandum and Articles of Association)
• Board Resolution