Bank increases fixed deposit upfront rates to 16pc
BancABC’s head of retail and business banking, Ms Joyce Malai, speaks in Dar es Salaam yesterday. With her is the head of markets and treasury, Mr Burton Mwasamengo. PHOTO | THE CITIZEN CORRESPONDENT
What you need to know:
- The BancABC head of retail and business banking, Mrs Joyce Malai, said the annual interest rate of up to 16 per cent will apply to customers who open fixed deposit accounts this month.
- Such customers, she said, will be paid up-front interest as a gift to use for all their festive needs while their principal amounts remain secure until maturity.
Dar es Salaam. BancABC yesterday introduced a special festive season gift that will see it giving up to 16 per cent interest up front on structured fixed deposit accounts.
The BancABC head of retail and business banking, Mrs Joyce Malai, said the annual interest rate of up to 16 per cent will apply to customers who open fixed deposit accounts this month.
Such customers, she said, will be paid up-front interest as a gift to use for all their festive needs while their principal amounts remain secure until maturity.
“This is the best offer in the market so far and we want to encourage our customers and even those who do not have accounts with us to take advantage of this festive season offer,” she said.
To open an account, one will be required to visit any of the bank’s branches located at Uhuru, Quality Centre, Kariakoo and Arusha.
ABC Holdings Limited is the parent company of a number of sub-Saharan Africa banks operating under the BancABC brand, which offers a diverse range of financial services including personal, business and corporate banking, as well as asset management, stockbroking, and treasury services.
In 2014, Atlas Mara acquired a significant majority stake in ABC Holdings.
BancABC pursues its vision to be the preferred banking partner in Africa by offering world class financial solutions – to the benefit of all its stakeholders.
