5th October, 2001

NBC reduces minimum balance requirements

NBC Ltd. has announced a major reduction in its minimum balance requirements for savings accounts to Tshs. 5,000 with effect from Monday, 8 October 2001.

The bank's managing director Gerald Jordaan said NBC Ltd. wanted to make banking easier and more accessible to the majority of Tanzanians. "This is just a taste of exciting things to come, including the imminent roll out of what will become Tanzanias largest network of Automated Teller Machines (ATMs). We've always said we are a Tanzanian bank and we will remain so. Our desire is to extend our services to the whole country. That means expanding our network and making it easier and affordable for ordinary people to maintain bank accounts. That's why we have reduced our minimum balance requirements for savings accounts," Jordaan said.

 

He said the bank has already imported 30 ATMs into the country. "We've brought these machines specifically to make banking easier and more accessible to people in this country. We are giving the public convenience and 24 hour accessibility to their funds."

 

The reduction in minimum balance requirements is applicable to all the 36 branches of NBC Ltd. Last week, NBC Ltd. announced an unprecedented special offer on fixed deposits. The bank is currently offering 7% interest rates on two year term deposits of Tshs 1 million to Tshs. 10 million. The special offer is also open to US dollar accounts of value 10,000 to 100,000 at 4% interest rate.

 

For more information please contact:

Maxwell Pirikisi
Manager: Corporate Affairs & Communications
Tel: 2112587/ 2111970
Mobile No. :0744-210304\