SAVING ACCOUNT

Regular Savings Accounts:

This is an interest bearing account with approved minimum balance as per MCB tariffs. Account opening balance is subject to changes from time to time as contained in the bank’s tariff guide.

Employee Saving Account

This is an account operated by employee from various institutions who are receiving their salaries through our bank. The system of which helps employees to get cheap loans from the bank using their salaries as collateral.

FAIDIKA Saving Account

It is an interest bearing saving account whereby a client will deposit a minimum amount of TSZ 500,000. Withdrawals are permitted but minimum balance should be maintained. Interest rates range from 6% to 8%. For details on other features, contact MCB Customer Service Department.

Wekeza Saving Account

Wekeza Saving Account is the special account for VSLAs (Village Saving and Loan Association) groups for safekeeping of group money. The account is free from monthly charges while earning interest rate of 3% per annum. Minimum balance for the account is Tsh. 20,000/-

Junior Saving Account

Junior Saving Account is designed to instill the habit of saving money for children below 18 years, for future use , by young generation, for example to meet school fees. Minimum balance allowed is 20,000. Interest rate is 6%. These accounts are usually managed by parents or guardians