What you need to know:
- Customers will get up to 11 percent interest up-front for one year, on structured fixed deposit accounts.
Dar es Salaam. BancABC Tanzania, which is part of Atlas Mara, yesterday launched a customer drive deposit campaign where customers will get up to 11 percent interest up-front for one year, on structured fixed deposit accounts.
Speaking here, the bank’s chief operations officer Ms Joyce Malai, said the offer will be for customers who will open fixed deposit accounts from yesterday to mid-December this year.
She said customers will be paid up-front interest instantly while their principal amounts remain secure until maturity.
“We are giving an up-front interest to enable our customers to protect their principle while running their businesses and daily activities without having to wait till the end of the tenure to earn it,” said Ms Malai.
She added, “We are also flexible to accommodate those who would prefer a quarterly, semi-annual, or annual interest payment besides the up-front.”
According to her, the bank values customers and that was why it introduced the flexibility to accommodate all customers’ needs.
Commenting on the new service, the bank’s senior manager, retail and commercial banking Lillian Mwakitalima said the -bank was keen in meeting customers’ needs and ensure that they grow with it.
“We value the support that our esteemed customers give to us and as a bank we have decided to reward them by launching this campaign,” Ms Mwakitalima said.
She added: “Should a customer wish to borrow against their deposit, we will accommodate them. We welcome all customers to enjoy this flexibility with us.”
According to bank’s senior manager, the offer will apply to all customers who open a fixed account with BancABC Tanzania for a period of six months to one year before December 15, this year.