Mwalimu Commercial Bank Plc alternative delivery channels manager John Mhina (second left) speaks in Dar es Salaam on Wednesday. From left: credit officer Isaya Hagamu, head of business development and marketing Valence Luteganya and the bank’s marketing manager Rahma Ngassa. PHOTO | VENANCE NESTORY
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Speaking in Dar es Salaam on Wednesday, the bank’s head of business development and marketing Valence Luteganya said MCB Salary Advance, allows a client – holding a salary account with MCB – to receive up to 50 per cent of his/her salary before the employer effects payments.
Dar es Salaam. The Dar es Salaam Stock Exchange-listed Mwalimu Commercial Bank PLC (MCB) on Wednesday launched its Salary Advance service as it targets to net more salaried workers onto its products.
Speaking in Dar es Salaam on Wednesday, the bank’s head of business development and marketing Valence Luteganya said MCB Salary Advance, allows a client – holding a salary account with MCB – to receive up to 50 per cent of his/her salary before the employer effects payments.
“One will get the money whenever needed,” he said, noting that the service carries a ‘minimal’ interest rate.
The money, he said, will help salaried workers who hold salary accounts with MCB to get the money to meet their various needs before their employers effect monthly payments.
According to the MCB head of alternative delivery channels, Mr John Mhina, the Salary Advance is one of a number of services that the bank plans to unveil this year in the endeavour to ensure that Tanzanians have access to finance whenever in need.
Last week, MCB introduced a new fixed deposit account that is specifically designed to cater to the needs of students’ parents and guardians for the month of January.
Named ‘Tukutane Januari’ (Let’s meet in January), the account allows parents and guardians to save for several months until January comes.
