Tanzania: NMB Launches ‘Wekeza’ Account

NMB Bank Plc has launched a long-term savings account that offers attractive returns on investment and additional free life insurance.

The account dubbed ‘Wekeza’ is the first of its kind in the market that offers not only competitive interest but also free Life Insurance while cementing the bank’s leading role as an innovative champion in banking service delivery and the safest financial solutions provider.

Wekeza account will attract an interest rate of up to 12 per cent for those making a longterm investment.

The interest rate will go hand in hand with the number of years a customer needs to invest. NMB Bank’s Chief of Retail Banking, Filbert Mponzi said the new Wekeza account will help customers to become more financially secured.

Mr Mponzi further said “NMB Bank is committed to providing innovative solutions and banking services to our customers, we continue to invest strategically in our technology and branch network and strengthen more our ability to deliver to the market.”

“We are happy to be able to offer our customers another safe and long-term way of saving money, seven months after the launch of our deposit mobilization campaign. We operate in a heavily competitive environment, but once again we prove that we’re able to continuously introduce new products that bring value to our customers. We are extra proud of our product Wekeza and are committed to making available exciting opportunities for our customers while also encouraging them to adopt good financial habits,” he said.

Mr Mponzi added that “We want our customers to continue trusting us to manage their deposits while also inculcating a savings culture for their future financial prosperity,” The minimum deposit in the Wekeza account starts at 250,000/- and the tenure of the savings ranges between six to 20 years and interest earned is payable twice a year (June and Dec).


Source link : https://allafrica.com/stories/202110010166.html

Author : Daily News

Publish date : 2021-10-01 06:32:29

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