Interest Rates and Charges
New revised Bank’s charges with effective from 01st December 2023 (Exclusive of Taxes)
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DESCRIPTION |
Existing Charges |
Revised Charges |
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Remittances (Outward) |
TSHS |
USD/GBP/EUR |
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TSHS |
USD/GBP/EUR |
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TISS (Only for Account. Holders) |
USD Equivalent |
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TZS 1 to 10 million, |
10000 | 10 | 2000 | 2 | |
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TZS 10 million to 50 million |
10000 | 10 | 5000 | 5 | |
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Over TZS 50 million. |
10000 | 10 | 10000 | 10 | |
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Outward Remittances (Rapid Funds to India) |
BOB to BOB |
BOB to Other Bank |
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BOB to BOB |
BOB to Other Bank |
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Up to USD 2000 |
- |
- |
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5 |
15 |
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USD 2001 to 5000 |
- |
- |
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10 |
20 |
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Up to USD 5000 |
12 |
18 |
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- |
- |
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USD 5001 to 10000 |
24 |
30 |
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18 |
30 |
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Above USD 10000 |
0.24% maximum USD 180 |
@ 0.30% maximum USD 200 |
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0.25% maximum USD 180 |
@ 0.30% maximum USD 200 |
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IN TZS |
IN USD |
IN TZS |
IN USD |
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Remittances (Outward) TT |
INDIVIDUAL |
N.A. |
Up to USD or equivalent up to |
N.A. |
Up to USD or equivalent up to |
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USD2000 -USD 13.20 + USD 35 Swift Charges |
USD2000 -USD 13.20 + USD 35 Swift Charges |
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USD5000 -USD 20.00 + USD 35 Swift Charges |
USD5000 -USD 20.00 + USD 35 Swift Charges |
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USD10000 -USD 33.00 + USD 35 Swift Charges |
USD10000 -USD 33.00 + USD 35 Swift Charges |
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Above USD 10000-USD 65 Flat + USD 35 Swift Charges |
Above USD 10000-USD 65 Flat + USD 35 Swift Charges |
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CORPORATE |
N.A. |
Up to USD or equivalent |
N.A. |
Up to USD or equivalent |
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10000-USD 20.00 + USD 35 Swift Charges |
10000-USD 20.00 + USD 35 Swift Charges |
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50000-USD 33.00 + USD 35 Swift Charges |
50000-USD 33.00 + USD 35 Swift Charges |
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>50000-65 USD + USD 35 Swift Charges |
>50000-65 USD + USD 35 Swift Charges |
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Remittances (Inward) TT for Account Holders only |
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From Tanzania |
No Charges |
No Charges |
FREE |
FREE |
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Outside Tanzania |
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Current Account. / Overdraft |
N.A. |
0.30% Min 12 and Max. USD 70 |
N.A. |
0.30% Min 12 and Max. USD 70 |
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Saving Bank Account. |
N.A. |
Flat USD 18 |
N.A. |
USD 20 |
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FBC-C |
Current Account. /Overdraft |
N.A |
0.30 % min 12 and Max. USD 70 + Postage USD 90 |
N.A |
0.30 % min 12 and Max. USD 70 + Postage USD 90 |
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Saving Bank Account. |
N.A |
Flat USD 18 + Postage USD 90 |
N.A |
Flat USD 18 + Postage USD 90 |
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FBP-C |
Current Account. /Overdraft |
N.A |
0.30 % Min 12 and Max USD 70 + Postage USD 90 |
N.A |
0.30 % Min 12 and Max USD 70 + Postage USD 90 |
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Saving Bank Account. |
N.A |
Flat USD 18 + Postage USD 90 |
N.A |
Flat USD 18 + Postage USD 90 |
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Issue of Bankers Cheque Bankers payment |
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30000 |
24 |
50,000 |
30 |
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Cancellation of Bankers Cheques |
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20000 |
15 |
50,000 |
30 |
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Stop payment of Cheque |
Current/OD Account |
22000 |
18 |
50,000 |
30 |
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Saving Account |
36600 |
29 |
50,000 |
30 |
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Cheque Return Charges (Inward/Outward) |
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Financial Reason |
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24400 |
18 |
50,000 |
30 |
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Non-Financial |
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24400 |
18 |
50,000 |
30 |
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Special clearance (DSM only) |
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With in City Centre |
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72000 |
42 |
72000 |
42 |
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Outside City Centre |
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90000 |
60 |
90000 |
60 |
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Balance confirmation Letter |
Current/OD Account |
22000 |
22 |
22000 |
22 |
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Saving Account |
14700 |
15 |
14700 |
15 |
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Reference/Identity Letter |
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Current/OD Account |
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25000 |
25 |
25000 |
25 |
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Saving Bank |
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12000 |
12 |
12000 |
12 |
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Cost of cheque per leaf |
Current/ OD Account |
830 |
0.55 |
830 |
0.55 |
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Saving Bank |
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830 |
0.55 |
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Inward Cheque Processing |
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180 |
2 |
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Ledger Folio Charges (For purpose of Current Account/overdraft 30 entries will constitute one ledger folio.)
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Current / Overdraft Account |
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6000 per folio Min 6000 p.m. |
USD 4 per folio Min USD 4p.m. |
10,000 per folio Min 10,000 p.m. |
USD 7 per folio Min USD 7 p.m. |
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Ledger Charges for Savings Bank a/c |
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9000 H /Yearly |
9.00 H/Yearly. |
9,000 H /Yearly |
USD 7 H /Yearly |
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Minimum Balance Charges |
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Charges for not maintaining minimum balance in Current account |
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3700 p.m. |
3.00 p.m. |
3700 p.m. |
3.00 p.m. |
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Charges for not maintaining minimum balance in Savings Bank account. |
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1600 p.m. |
2 p.m. |
1600 p.m. |
2 p.m. |
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Account. maintenance charges for Saving and Current account. |
Current Account |
3700 Per Month |
4.00 Per Month |
3700 Per Month |
4.00 Per Month |
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Saving Account |
1900 Per Month |
2.00 Per Month |
1900 Per Month |
2.00 Per Month |
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Account Statement |
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Once in a month no Charge (Regular) |
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Once in a month |
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Interim Account Statement |
Saving Account |
8000 |
8 |
10,000 |
10 |
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Current Account |
8000 |
8 |
10,000 |
10 |
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Account Closure within 12 Months |
Saving Account |
22000 |
22 |
25000 |
25 |
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Current Account |
51200 |
51 |
55000 |
60 |
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Account Closing Saving beyond 12 Months |
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0 |
0 |
22000 |
20 |
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Account Closing Current beyond 12 Months |
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0 |
0 |
50000 |
50 |
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Dormant Account Activation Charges |
Saving Bank |
6100 |
1 |
5,000 |
5 |
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Current Account |
12200 |
1 |
10,000 |
10 |
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Upcountry Collection of cheques |
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0.6% of value (Min Commission 18000 + Postage Tzs 90000
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0.6% of value (Min Commission USD 18 + Postage USD 90) |
0.6% of value (Min Commission 18000 + Postage Tzs 90000
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0.6% of value (Min Commission USD 18 + Postage USD 90) |
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Cash Deposit Charges |
Current Account. |
Nil upto 50 Mn, 0.15% for above 50 Mn |
Nil upto USD 1000, 0.61 % above USD 1000 |
Nil upto 50 Mn, 0.15% for above 50 Mn |
Nil upto USD 1000, 0.61 % above USD 1000 |
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Saving Account. |
Nil Up to 25 Mn, 73200 for above 25 Mn and up to 50 Mn, 146300 for above 50 Mn up to 100 Mn, 219400 for above 100 Mn |
0. 22% above Usd 5000 per day |
Nil Up to 25 Mn, 73200 for above 25 Mn and up to 50 Mn, 146300 for above 50 Mn up to 100 Mn, 219400 for above 100 Mn |
0. 22% above Usd 5000 per day |
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Cash withdrawal Charges |
Current Account. |
Upto 25.00 Mn no charges, above 25.00 Mn 0.15 % of withdrawal amount |
0.37% for amount USD 5000 to USD 1 Mn |
Upto 25.00 Mn no charges, above 25.00 Mn 0.15 % of withdrawal amount |
0.37% for amount USD 5000 to USD 1 Mn |
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0.61 % for amount above USD 1Mn |
0.61 % for amount above USD 1Mn |
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Saving Account. |
Up to 50.00 Mn no charges, above 50.00 Mn @ 0.15% of withdrawal amount |
Up to USD 2000 no charges, Above USD 2000 up to USD5000 @ 0.37% and above 5000 @ 0.73%. |
Up to 50.00 Mn no charges, above 50.00 Mn @ 0.15% of withdrawal amount |
Up to USD 2000 no charges, Above USD 2000 up to USD5000 @ 0.37% and above 5000 @ 0.73%. |
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ADVANCES |
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ADVANCES PROCESSING CHARGES |
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TZS |
FCY |
TZS |
FCY |
TZS |
FCY |
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up to 5 Mn |
UPTO USD 10,000 |
24,400 |
24 |
24,400 |
24 |
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5-10 Mn |
USD 10,000 to USD 200,000 |
24,400 |
0.0323 |
24,400 |
0.0323 |
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10-25 Mn |
Above USD 200,000 |
24,400 |
1.82%, Minimum 5,300 |
24,400 |
1.82%, Minimum 5,300 |
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25-200 Mn |
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1.82%, Minimum 5,300,000 |
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1.82%, Minimum 5,300,000 |
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200-500 Mn |
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1.82%, Minimum 5,300,000 |
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1.82%, Minimum 5,300,000 |
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Above 500 Mn |
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1.82%, Minimum 5,300,000 |
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1.82%, Minimum 5,300,000 |
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Loan/Overdraft against deposit of our Bank (Ist / IIIrd Party) – Waiver of Processing and documentation charges. |
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DOCUMENTATION CHGS |
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UPTO 10 Mn |
UPTO USD 10,000 |
36,600 |
22 |
36,600 |
22 |
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10 Mn to 100 Mn |
USD 10,000 to USD 200,000 |
0.37% (Minimum 0.60 Mn) |
0.37% Min 150 |
0.37% (Minimum 0.60 Mn) |
0.37% Min 150 |
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Above 200 Mn |
Above USD 200,000 |
0.22% (Minimum 1.18 Mn) |
0.22 % Min 600 |
0.22% (Minimum 1.18 Mn) |
0.22 % Min 600 |
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Reshedulement Charges |
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1.20% Max 1.00 Mn |
1.20% Max USD 600.00 |
1.20% Max 1.00 Mn |
1.20% Max USD 600.00 |
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Inspection Charges |
Upto Tzs 200 Mn or USD 0.20 Mn |
36,600 |
USD 43 |
40,000 |
45 |
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Above Tzs 200 Mn or USD 0.20 Mn |
79,300 |
USD 79 |
80,000 |
80 |
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In addition to above inspection charges out of pocket expenses are also to be charged. |
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Balance/Interest Certificate |
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18,000 |
18 |
20,000 |
20 |
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Prepayment Charges (Principle Outstanding for residual Period) |
Up to 200 Mn or USD 200,000 |
2.92 % p.a. |
2.92 % p.a. |
2.92 % p.a. |
2.92 % p.a. |
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Above Tzs 200 Mn or USD 200,000 |
2.92 % p.a. |
2.92 % p.a. |
2.92 % p.a. |
2.92 % p.a. |
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Bankers’ opinion /Confidential Report |
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30,000 |
30 |
30,000 |
30 |
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Registration of Loan Agreement with Bank of Tanzania |
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N.A. |
UPTO 1 Mn USD-120 USD 1 Mn to 2 Mn- 300 USD |
N.A. |
USD 500 FLAT |
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Above 2 Mn -600 USD |
USD 600 FLAT |
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Commitment Charges |
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1.32 of undrawn portion in case 50% average limit not utilized per quarter. |
0.66 of undrawn portion in case 50% average limit not utilized per quarter. |
1.32 of undrawn portion in case 50% average limit not utilized per quarter. |
0.66 of undrawn portion in case 50% average limit not utilized per quarter. |
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Modification Charges |
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0.12% Sanctioned Limit. Minimum 120,000 |
0.12% sanctioned limit Minimum USD 60. |
0.12% Sanctioned Limit. Minimum 120,000 |
0.12% sanctioned limit Minimum USD 60. |
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Interchangeability |
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Upto 100 Mn -60,000 p.a. |
Up to USD 500,000 USD 60 p.a. |
Up to 100 Mn -60,000 p.a. |
Up to USD 500,000 USD 60 p.a. |
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Above 100 Mn 120,000 p.a. |
Above USD 500,000 USD 120 p.a. |
Above 100 Mn 120,000 p.a. |
Above USD 500,000 USD 120 p.a. |
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BANK GUARANTEE |
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Financial/Performance per Quarter-Part of quarter treated as full quarter. |
Financial |
1.35% Minimum per quarter or part thereof Min Tzs 18,000 |
1.35% minimum per quarter or part thereof Min USD 15 |
1.35% Minimum per quarter or part thereof Min Tzs 18,000 |
1.35% minimum per quarter or part thereof Min USD 15 |
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Performance |
1.35% Minimum per quarter or part thereof Min Tzs 18,000 |
1.35% minimum per quarter or part thereof Min USD 15 |
1.35% Minimum per quarter or part thereof Min Tzs 18,000 |
1.35% minimum per quarter or part thereof Min USD 15 |
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Unsecured bid-bond Guarantee Upto 50Mn |
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2.00% Minimum per quarter or part thereof Min Tzs 50,000 |
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2.00% Minimum per quarter or part thereof Min Tzs 50,000 |
2.00% Minimum per quarter or part thereof Min Tzs 50,000 |
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Extension of BG |
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Above commission for change in period /amt. 1.35% of BG amt for residual period of guarantee subject to min 18,000 in case of any other parameter amended. |
Above commission for change in period/amt. 1.35% of BG amt for residual period of guarantee subject to min USD 15 in case of any other parameter amended. |
Above commission for change in period /amt. 1.35% of BG amt for residual period of guarantee subject to min 18,000 in case of any other parameter amended. |
Above commission for change in period/amt. 1.35% of BG amt for residual period of guarantee subject to min USD 15 in case of any other parameter amended. |
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BG against 100% Cash Margin |
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50% of above charges |
50% of above charges |
50% of above charges |
50% of above charges |
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Bank Guarantee |
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Swift charges USD 42 or equivalent applicable in addition to above charges. |
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Swift charges USD 42 or equivalent applicable in addition to above charges. |
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Bank Guarantee Confirmation |
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75% applicable charges + USD 42 Swift Charges |
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75% applicable charges + USD 42 Swift Charges |
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Documentary Credit |
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IN FCY ONLY |
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IN FCY ONLY |
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Issuance of L/Credit |
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1.65% per quarter or part thereof. This period includes the usance period in case of Usance LC’s+ USD 42 or equivalent swift charges. |
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1.65% per quarter or part thereof. This period includes the usance period in case of Usance LC’s+ USD 42 or equivalent swift charges. |
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LC against 100% Cash Margin |
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40% of above charges |
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40% of above charges |
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LC Amendment |
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For period and amount the above commission + USD 42 or equivalent swift charges. |
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For period and amount the above commission + USD 42 or equivalent swift charges. |
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0.42% of LC amt Min 60 USD and Maximum USD 360 or equivalent commission per amendment + USD 42 or equivalent swift charges (Applicable for 100% cash margin also) |
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0.42% of LC amt Min 60 USD and Maximum USD 360 or equivalent commission per amendment + USD 42 or equivalent swift charges (Applicable for 100% cash margin also) |
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Import LC Opening Swift Charges |
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51 |
51 |
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Import LC Amendment Swift Charges |
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51 |
51 |
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Import LC Extension |
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1.65% Minimum $150 |
1.65% Minimum $150 |
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Import LC Cancellation |
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1.65% Minimum $150 |
1.65% Minimum $150 |
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Export LC advising |
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USD160 |
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USD200 |
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Export LC extension |
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1.65 % minimum 150 |
1.65 % minimum 150 |
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Export LC Negotiating Bills |
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0.79% Minimum 120 plus 51 swift charges plus 79 courier charges |
0.79% Minimum 120 plus 51 swift charges plus 79 courier charges |
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Export LC Collection of Export LC |
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0.79% Minimum 120 plus 51 swift charges plus 79 courier charges |
0.79% Minimum 120 plus 51 swift charges plus 79 courier charges |
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LC Confirmation |
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1.00% per quarter or part there of This period includes the Usance period in case of Usance LC’s + USD 42 or equivalent swift charges. |
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1.00% per quarter or part there of This period includes the Usance period in case of Usance LC’s + USD 42 or equivalent swift charges. |
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IMPORTS/EXPORTS Bill |
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Inward Bill (Under-LC) |
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0.35% + Swift Charges 42 subject to Minimum charges USD 120 |
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0.35% + Swift Charges 42 subject to Minimum charges USD 120 |
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USD 65 in addition to above charges per Discrepancy. |
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USD 65 in addition to above charges per Discrepancy. |
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Inward Bill (Non-LC) |
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0.65% + USD 20.00 Handling Charges + 35 Swift Charges. |
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0.65% + USD 20.00 Handling Charges + 35 Swift Charges. |
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USD 65 in addition to above charges per Discrepancy. |
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USD 65 in addition to above charges per Discrepancy. |
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Exports Bill (Under-LC) |
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0.35%+ 42 Swift Charges+ USD 65courier Charges –Minimum USD 120. |
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0.35%+ 42 Swift Charges+ USD 65courier Charges –Minimum USD 120. |
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USD 60 in addition to above charges per Discrepancy. |
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USD 60 in addition to above charges per Discrepancy. |
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Exports Bill (NON-LC) |
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0.65% + 42 Swift Charges + USD 65 courier Charges subject to Minimum USD 120. |
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0.65% + 42 Swift Charges + USD 65 courier Charges subject to Minimum USD 120. |
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USD 65 in addition to above charges per Discrepancy |
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USD 65 in addition to above charges per Discrepancy |
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Security charges (T Bill and T Bonds) |
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Bidding |
TZS.35000 |
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TZS.35000 |
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Transfer |
TZS.65000 |
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TZS.65000 |
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Lien Creation |
TZS.65000 |
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TZS.65000 |
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Lien Release |
TZS.65000 |
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TZS.65000 |
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SALARY PROCESSING |
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TZS 1200 |
USD 1.20 |
TZS 1200 |
USD 1.20 |
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Change of Operational Instruction
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C. Account |
TZS 30000 |
USD 30.00 |
TZS 30000 |
USD 30.00 |
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SB Account |
TZS 12000 |
USD 12.00 |
TZS 12000 |
USD 12.00 |
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S.I. Failure CHGS |
CA Account |
TZS 6000 per SI |
USD 2.40 per SI |
TZS 6000 per SI |
USD 2.40 per SI |
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SB Account |
TZS 1800 per SI |
USD 1.20 per SI |
TZS 1800 per SI |
USD 1.20 per SI |
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MINIMUM BALANCE TO BE MAINTAINED IN |
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SAVING BANK ACCOUNT |
CURRENT ACCOUNT |
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TZS |
USD or other FCY |
TZS |
USD or other FCY |
No change, same as existing |
No change, same as existing |
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20,000 (Min Balance Blocked) |
50 |
200,000 |
200 |
200,000 |
200 |
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BARODA PREMIUM CURRENT ACCOUNT |
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25 Mn |
20000 |
25 Mn |
20000 |
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Mobile Banking Charges |
TRANSFER AMOUNT |
BOB2 Wallet |
BOB2OB |
BOB2Wallet |
BOB2OB |
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(TZS) |
(TZS) |
(TZS) |
(TZS) |
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0 to 999 |
1500 |
10 |
25 |
25 |
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1,000 to 1,999 |
1500 |
10 |
25 |
25 |
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2,000 to 2,999 |
1500 |
10 |
25 |
25 |
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3,000 to 3,999 |
1500 |
14 |
30 |
30 |
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4,000 to 4,999 |
1500 |
27 |
500 |
500 |
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5,000 to 6,999 |
1500 |
54 |
700 |
700 |
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7,000 to 9,999 |
1500 |
56 |
800 |
800 |
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10,000 to 14,999 |
1500 |
102 |
900 |
900 |
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15,000 to 19,999 |
1500 |
195 |
1000 |
1000 |
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20,000 to 29,999 |
1500 |
306 |
1200 |
1200 |
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30,000 to 39,999 |
1500 |
351 |
1500 |
1500 |
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40,000 to 49,999 |
1500 |
419 |
1800 |
1800 |
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50,000 to 99,999 |
1500 |
573 |
2000 |
2000 |
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100,000 to 199,999 |
1800 |
707 |
2500 |
2500 |
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200,000 to 299,999 |
1800 |
821 |
2800 |
2800 |
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300,000 to 399,999 |
2000 |
838 |
3000 |
3000 |
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400,000 to 499,999 |
2500 |
982 |
3500 |
3500 |
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500,000 to 599,999 |
3000 |
1245 |
4000 |
4000 |
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600,000 to 699,999 |
3500 |
1532 |
4500 |
4500 |
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700,000 to 799,999 |
3500 |
1700 |
5000 |
5000 |
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800,000 to 899,999 |
4000 |
1750 |
5500 |
5500 |
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900,000 to 1,000,000 |
4000 |
1776 |
6000 |
6000 |
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1,000,001 to 3,000,000 |
4000 |
1875 |
7000 |
7000 |
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3,000,001 to 5,000,000 |
4000 |
2000 |
10000 |
10000 |
The following are the Levy imposed by the Government of Tanzania.
CHARGEABLE RATE FOR ELECTRONIC MONEY TRANSACTIONS LEVY
| No. | Electronic Money Transactions amount in TZS | Rate in TZS |
|---|---|---|
| 1 | 100 to 2,999 | 10 |
| 2 | 3,000 to 3,999 | 14 |
| 3 | 4,000 to 4,999 | 27 |
| 4 | 5,000 to 6,999 | 54 |
| 5 | 7,000 to 9,999 | 56 |
| 6 | 10,000 to 14,999 | 102 |
| 7 | 15,000 to 19,999 | 195 |
| 8 | 20,000 to 29,999 | 306 |
| 9 | 30,000 to 39,999 | 351 |
| 10 | 40,000 to 49,999 | 419 |
| 11 | 50,000 to 99,999 | 573 |
| 12 | 100,000 to 199,999 | 707 |
| 13 | 200,000 to 299,999 | 821 |
| 14 | 300,000 to 399,999 | 838 |
| 15 | 400,000 to 499,999 | 982 |
| 16 | 500,000 to 599,999 | 1245 |
| 17 | 600,000 to 699,999 | 1532 |
| 18 | 700,000 to 799,999 | 1700 |
| 19 | 800,000 to 899,999 | 1750 |
| 20 | 900,000 to 1,000,000 | 1776 |
| 21 | 1,000,001 to 3,000,000 | 1875 |
| 22 | 3,000,001 and above | 2000 |
**As per directives received from the Regulations of the National Payment Systems Act of Tanzania, Bank of Baroda will deduct government Levy on Withdrawals of money done through ATMs, Mobile banking, Over the counter and transfers such as normal transfer, TISS and TT. These charges will be effective from 1st of September 2022 and will be additional to the existing bank charges.