This is an investment account for a fixed amount made for a specific period of time at a guaranteed fixed rate of interest. The customer is provided with a Time Deposit Certificate and receipt as evidence of deposit.
Time deposits are meant for Individuals, Trustees, Clubs, Associations, Institutions and Corporations.
The minimum deposit is TZS 100,000.
- Upfront determination of exactly how much interest you will receive for the investment.
- Fixed rate of interest.
- Flexible deposit (maturity) periods enable that enable you to plan effectively for future spending while earning interest
- Flexible deposit amounts that enable you to invest at your own convenience
- Competitive interest rates which improve as the deposit period increases
- It is an ideal collateral for borrowing in case you require a loan.
- The account is maintained free of charge hence no reduction in investment.
- Flexible and convenient payment methods such as cash or issuance of a banker's cheque.