This is an enterprise current account designed to drive financial inclusion and deposit mobilization for groups, MSEs and SMEs with both savings and current features.
Features
Multi-currency: TZS|USD|EURO|GBP
Initial Opening Balance TZS 50,000/ FOREX 50
Min Operating Balance TZS. 10,000|FOREX 10
Subject to transactional fees and monthly fees
Interest Bearing Amount- TZS 200,000|FOREX 100
Earns interest on deposits.
Joint operation is allowed.
Benefits
Easy means of payments through cheque,
Eligible for overdraft Facility.
Joint Account operations is allowed.
Requirements
Signatories must be 18 years and above
Legal ID (NIDA ID/Voter’s ID/Driver’s License/Passport/Zanzibar National ID).
VEO/WEO Letter (if using ID’s apart from National ID).
2 Passport size photos each
Group resolution/Minutes of members meeting authorizing opening of account and operating mandate (At least 3 Signatories)
Group Constitution
Group/Association certificate of registration, OR introduction letter from relevant authority such as as employer or government official
