SME Account
A product for lower-tier small and medium enterprises (SMEs) in small towns of Kahama, Tabora, Iringa, Morogoro, Mbeya, Mtwara, Zanzibar, Dodoma, Moshi, and Tanga. SME Account is a non-interest bearing transactional account with fixed monthly ledger fees.
Available in Tanzania Shillings only, SME Account offers a cost-effective value proposition to SMEs in smaller townships through cost-effective banking. However, this product can only allow for Term Loan and not Overdraft provision. Any customer intending to request for Overdraft is required to upgrade to the Standard Current Account.
Target market - startups and small and medium enterprises (SMEs) / small traders with an average monthly turnover of not more than TZS 50 million.
Minimum balance of TZS 30,000
Free monthly statements
Free inward & outward TT confirmation
Access to internet banking (i24/7) and mobile banking (m24/7 for sole proprietor)
Free cash withdrawals with no restrictions to amount and frequency
Free cash deposits
25 leaves cheque book at per prevailing Tariffs.
Currency - Tanzania Shillings
Opening balance - TZS 30,000
Minimum balance - TZS 30,000
Channels / accounts & information access -:
Cheque book
E-statements
Mobile banking (Sole Proprietorship) (m24/7)
Internet banking (i24/7)
Monthly ledger fee - TZS 10,000
Transaction fee: debit & credit - nil
Over the counter transaction fee - nil
Dormant account activation - free
Mobile Banking (m24/7) Fees -:
Mobile banking registrations - free
Monthly subscription charges - free
Credit alerts - TZS 50
Daily / Weekly / Monthly balance alerts - TZS 50
Internet Banking (i24/7) Fees -:
Internet banking registrations - free
Monthly subscription charges - free
Token fee (Soft Token) - free
PIN re-generation - free
Cheque Books -:
25 leaf book - TZS 12,500
*All fees are subject to an 18% value added tax
