Faraja Account
A senior Citizen Savings Account dedicating banking solution designed to help elderly citizens, aged 55 and above, save for their future expenses such as retirement funds and ensuring that the features and benefits meet their unique financial needs and goals.
This account is available in Tzs and USD, providing flexibility for international savings and transactions with cheque book facilities to access funds conveniently making transactions simple and hassle-free.
This account is designed to offer peace of mind and financial security, helping senior citizens plan for their retirement and other future expenses. Whether you're saving for healthcare, travel, or simply building a comfortable nest egg, Faraja Account is here to support your financial journey.
No minimum balance / no monthly ledger
Availability in two major currencies - TZS & USD
Interest paid monthly on balances from TZS 500,000 and above
TZS 5% pa
USD 1% pa
Mastercard debit card (in TZS Only)
TZS 100 on ATM cash withdrawal (within DTB domain)
Free over the counter transactions
Free internet banking (i24/7) - access to view option only
Access to Mobile Banking (m24/7)
10% discount on safe deposit locker services
Currency - Tanzanian Shillings and United States Dollars (TZS & USD)
Minimum balance - nil
Opening balance - nil
Channels / accounts & information access - Mobile banking (m24/7) / Internet banking (i24/7)
Debit card - Mastercard
New card issuance fee - free
New PIN request / reset - free
Card replacement - TZS 10,000
Cards uncollected and destroyed - TZS 10,000
Capture card fee - in DTB ATM'S - TZS 1,000
Annual fees - TZS 3,000
Withdrawal Fees -:
Cash withdrawal - DTB ATM per withdrawal TZS 100
Free cash withdrawal over the counter
Other bank ATM withdrawal - in Tanzania TZS 3,000
Other bank ATM withdrawal - Outside Tanzania TZS 5,000
USD withdrawals -:
Withdrawals up to USD 10,000 - free
Withdrawals from USD 10,001 - 0.5%
Cash handling denominations less than USD 50 - 5%
Mobile Banking (m24/7) Fees -:
Mobile banking registrations - free
Monthly subscription charges - free
Credit alerts - free
Daily / Weekly / Monthly balance alerts - TZS 50 / USD 0.10
Internet Banking (i24/7) Fees -:
Internet banking registrations - free
Monthly subscription charges - free
Token fee (Soft Token) - free
PIN re-generation - free
*All fees are subject to 18% Value Added Tax
*Cash handling and cheque fees care applicable
