Dar es Salaam. Sept 29, 2021.  NMB Bank PLC has today 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 percent for those making a long-term investment. The interest rate will go hand in hand with the number of years a customer needs to invest.

NMB Bank’s Chief of Retial Banking,  Filbert Mponzi said the new Wekeza account will help  customers  to become more financially secured.

Mr. Mponzi further said that “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,” said Mr. Mponzi.

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 Tzs 250,000 and the tenure of the savings ranges between – 6 to 20 years and interest earned is payable twice a year (June and Dec)The account will also attract an option of topping up the investment through NMB channels (NMB Branch, NMB Wakala and NMB Mkononi).

Wekeza account also offers  a free life insurance in case of death or permanent disability of the customer which will be a double of his investment/balance, a minimum of TZS 2 Million to 50 Million.

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