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Weka Hata Kiasi Kidogo Kinachopatikana Deposit Scheme
The scheme was launched first time in Dar es salaam, with the objective to plan for long term expenses for education, House, marriage, social obligation etc. arising in future through regular monthly savings. It is introduced to cultivate saving habit.
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Benefits
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Eligibility
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Documentation
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Interest Rates
- Manage cash budget for long term fund requirement.
- High rate of return compared to other deposits schemes.
- Liberty to deposit monthly available surplus ten times the initial deposit amount.
- Money back facility after one year.
- Loan facility up to 95% of deposit.
- Rate of interest is equivalent to FDR rates for the relevant periods
- Tanzanian above 18 years of age.
- Foreign Individual working in Tanzania with valid documents.
- Account opening form to be filled +specimen card
- Two (2) passport size photos.
- Introducer known to Bank (account holder in our branch)
- Password original for verification
- work permit copy
- Residence permit copy
- letter from employer
- On letter head+rubber stamp
- Name of employee
- Work and residence permit numbers
- Passport number/national ID if he is a residence
- Physical Address proof
- Rate of interest is equivalent to FDR rates for the relevant periods
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What is the Weka Hata Kiasi Kidogo Kinachopatikana Deposit Scheme by Bank of Baroda Tanzania?
deposit ac schme for customers to to plan for long term expenses for education, House, marriage, social obligation etc. arising in future through regular monthly savings. It is introduced to cultivate saving habit for recurring deposits as per choice.
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Who is eligible to open a Weka Hata Kiasi Kidogo Kinachopatikana Deposit Scheme account?
All Individuals above 18 years of age ,
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What are the key benefits of the Weka Hata Kiasi Kidogo Kinachopatikana Deposit Scheme?
- Manage cash budget for long-term fund requirements
- Higher rate of return compared to other deposit schemes
- Liberty to deposit monthly available surplus up to ten times the initial deposit amount
- Money-back facility available after one year
- Loan facility available up to 95% of the deposit
- Rate of interest equivalent to FDR rates for the relevant periods
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What is the minimum deposit required to start the Weka Hata Kiasi Kidogo Kinachopatikana Deposit Scheme?
No Mimimum and maximum deposit stipulation, customer can deposit at any frequency , any deposit.
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How frequently do I need to deposit in the Weka Hata Kiasi Kidogo Kinachopatikana Deposit Scheme?
can deposit at any time/frequency
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Is the Weka Hata Kiasi Kidogo Kinachopatikana Deposit Scheme suitable for long-term savings?
Yes
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What is the duration or lock-in period for the Weka Hata Kiasi Kidogo Kinachopatikana Deposit Scheme?
12 Months
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What is the interest rate offered under the Weka Hata Kiasi Kidogo Kinachopatikana Deposit Scheme?
7%
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What documents are required to open a Weka Hata Kiasi Kidogo Kinachopatikana Deposit Scheme account?
- National ID Card (NIDA)
- Voter’s Registration Card
- Driver’s License
- Passport
- Introductory letter from employer
- TIN Number
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Is a loan facility available against the Weka Hata Kiasi Kidogo Kinachopatikana Deposit Scheme balance?
Yes
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What happens if I miss a monthly deposit under the Weka Hata Kiasi Kidogo Kinachopatikana Deposit Scheme?
No penalty
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How is interest calculated and credited for the Weka Hata Kiasi Kidogo Kinachopatikana Deposit Scheme?
accured on daily basis
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Can I access or manage my Weka Hata Kiasi Kidogo Kinachopatikana Deposit Scheme through mobile banking?
No
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How does the Weka Hata Kiasi Kidogo Kinachopatikana Deposit Scheme compare to Fixed Deposit Accounts?
This ac gives the flexibility to deposit any amount multiple times which is not available in Fixed Deposit
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Why should I choose the Weka Hata Kiasi Kidogo Kinachopatikana Deposit Scheme over other savings options?
This ac gives the flexibility to deposit any amount multiple times and Get Good Interest along with saved money on maturity.
