Faidika Savings Account

Save your hard-earned money and benefit from secure financial growth with our best interest rates.

  • Multiple currencies – TZS, USD, EURO and GBP)
  • Opening balance – TZS 15,000; FCY 15
  • Minimum balance – TZS 10,000; FCY 10
  • No ledger fees
  • Minimum interest earning balance – TZS 1,200,000 or FCY 1,200
  • Earn interest of 3% for TZS and 0.25% for USD
  • VISA/ BOAT SESAME Cards
  • Access to Mobile Banking services (Swahiba Mobile App & B- Mobile) & Internet Banking
  • Access to SMS/ E-mail alerts
  • Withdrawal fee over the counter 2000
  • Enjoy unlimited number of withdrawals on ATMs and at the counter without conditions
  • Deposit money for free
  • Access to loan facilities
  • No cheque book issued
  • Earn competitive interest on account balance
  • Enjoy unlimited number of withdrawals without restrictions

Standard account opening documents as BANK OF AFRICA – TANZANIA KYC regulations.

  • Branch network
  • Swahiba Mobile App
  • B-mobile (*150*13#)
  • Internet Banking.
  • Debit Cards
Personal Current Account

A checking account perfect if you carry out regular transactions, we give you tools to help you access your funds  24/7

  • Multiple currencies – TZS, USD, EURO, GBP
  • Cheque to facilitate cash withdrawal and transfers.
  • VISA/ BOAT SESAME Cards
  • Overdraft facility (if qualified)
  • Cash withdraw on ATMs up to TZS 1,000,000/= a day
  • SMS alert/ email notification.
  • An opening balance of TZS 50,000
  • Ledger fees of TZS 2,000
  • Withdrawal below TZS 15 million (OTC) – TZS 2,500
  • Withdrawal above TZS 15 million (OTC) – 0.12% of amount with cap of TZS 50,000
  • Enjoy unlimited number of withdrawals on ATMs and at the counter without conditions.
  • Deposit money for free
  • Access to Mobile Banking services (Swahiba Mobile App & B- Mobile) & Internet Banking.
  • Ideal for personal transactions

Individual persons who are employed

  • Employment identity card
  • Letter of introduction from employer
  • Two passport size photographs (2’x2′)
  • Opening amount
  • Referee with an account with BANK OF AFRICA – TANZANIA
  • Branch network
  • Swahiba Mobile App
  • B-mobile (*150*13#)
  • Internet Banking.
  • Debit Cards
  •  
Fixed Deposit Account

We will guarantee interest rate that you always know exactly what your investment will be worth, Earn up to 9.50% pa.

  • Competitive interest rates on your deposits.
  • No restriction on the number of deposits and withdrawals.
  • No period of notice of withdrawal is required.
  • Application letter for account holders (existing customers) OR for customers
  • Letter of introduction from employer and Identity card
  • Introduction letter from local government and voter registration card or passport or
  • A referee holding account with BANK OF AFRICA – TANZANIA and voter registration card or passport
  • Two passport size photographs with American size
  • Opening amount
  • Branch network
Call Deposit Account

Investment Fixed deposit account that doesn’t bind you keep earning with flexibility of instant access to funds and unlimited withdraw and deposit.

  • A call deposit account is a bank account for investment funds that offers the advantages of both a savings and a checking account. Like a checking account, a call deposit account has no fixed deposit period, provides instant access to funds, and allows unlimited withdrawals and deposits. The call deposit also provides the benefits of a savings account through the accrual of interest.
  • PRODUCT ATTRIBUTES:
  • This product combines the convenience of the current deposit and higher interest rate than that of the existing deposit.
  • It is suitable for depositors’ customers who can’t decide the deposit term for the large amount of funds and make deposits and withdrawals frequently.
  • Call deposit is available in various currencies (TZS, USD, EUR, GBP).
  • Preferable for short investment periods i.e., for a few days.
  • Suitable when the funds can be required or called up anytime e.g., funds held on behalf of a client by a law firm.
  • Has no defined investment period
  • Funds can be invested and liquidated at any time without penalty.  BENEFITS – CUSTOMER:
  • Competitive interest rates on your deposits.
  • No restriction on the number of deposits and withdrawals.
  • No period of notice of withdrawal is required
  • Certificate of registration (Original & Photocopy)
  • Memorandum and Article of Association
  • Business License
  • Minutes with resolution to open an account at BANK OF AFRICA -TANZANIA
  • Letter of application for account opening
  • TIN and or VAT registration certificate
  • Branch network
Vuna Account

Vuna account allows our customers to make the rules on how they wish to earn interest in their fixed deposit. Get paid monthly, quarterly or annually, whatever works for you.

  • The product name was derived from the word “Harvest” in English, which is the process of gathering mature crops from the field marking the end of a growing season. The Vuna account, therefore, allows our customers to ‘VUNA’ the interest on their funds placed in the bank as an FDR every month, quarter, or bi-annual basis.
  • The customer can have the interest being channelled to a respective/beneficiary account within BANK OF AFRICA – TANZANIA

    PRODUCT ATTRIBUTES:
  • Access to accrued interest on account on a monthly, quarterly, or bi-annual basis. (Flexible access to your interest).
  • Free transfer of interest to any account within BANK OF AFRICA TANZANIA.
  • Access to overdraft facility of up to 75% of your deposit.
  • Discounted rates on our customer’s loan application.                  BENEFITS – CUSTOMER:
  • Competitive interest rates on your deposits
    Free transfer of interest to any account within BANK OF AFRICA TANZANIA.
  • Access to overdraft facility of up to 75% of your deposit.
  • Discounted rates on your loan application.
  • Application letter for account holders (existing customers) OR For customers
  • Letter of introduction from employer and Identity card
  • Introduction letter from local government and voter registration card or passport or
  • A referee holding account with BANK OF AFRICA – TANZANIA and voter registration card or passport
  • Two passport size photographs with American size
  • Opening amount
  • Branch network
Smart Junior Investor Account

Our Kids account encourages savings habit at an early age. Help your little ones craft their future.

  • Enables parents protect their children’s savings
  • Creates financial soundness to children
  • Easy planning for long term payment of  school/university costs for the parents
  • Completely filled application form
  • 2 passport photos of parent and child(ren)
  • Birth certificate of child
  • Parent/Guardian identification
  • Branch network
  • B-mobile (*150*13#)
  • Swahiba App
  • Debit Cards
  • BOA Web
Public Service Pack

Complete package designed  for Public service employees.  Tied to range of  services that help you save and earn more.

  • Current account
  • Savings account
  • Savings Plan Ambition
  • Free COT
  • Free check-books
  • ATM card: first issuance free, renewal free, replacement charged
  • Free ATM withdrawals at BOA Tanzania’s ATMs
  • Overdraft up to 50% of salary (if application approved) with free commitment & processing fees.
  • Minimum wage is TZS 500,000 Net.
  • One-month automatic money reserve in the form of loan (repayable within 12 months)
    Insurance on :
    means of payment (checkbook and ATM card)
  • E-Banking (B-WEB, B-Mobile)
  • Special conditions on employee loan’s processing & commitment fees: 50% discount
  • Aged minimum 21 years and maximum 59 years at the date of signature of the package
  • Salaried workers of approved list of Employers
  • Non blacklisted individuals
  • KYC compliant
  • Branch network
  • B-mobile (*150*13#)
  • Swahiba App
  • Debit Cards
  • BOA Web
Employee Pack

Account that doesn’t let you wait for the payday. Gives you up to 50% Overdraft/Salary Advance

  • Current account
  • Savings account
  • Free Standing Order
  • Free Check books
  • ATM card: first issuance free, replacement charged
  • 4 Free ATM withdrawals
  • Overdraft up to 50% of salary with 10% commitment & processing fees. Minimum salary is TZS 500,000 net after salary deductions.
  • Insurance on:
  • means of payment (ATM Insurance)

Special conditions on employee loan’s application and processing fees : 50% discount

  • Aged minimum 18 years and maximum 60 years at the date of signature of the package
  • Salaried workers of approved list of Employers
  • Non blacklisted individuals
  • KYC compliant

 

Documents Required:

Produce:

  • Package application form
  • 2 photos
  • Certified copy of identity card
  • Proof of address (Utility bill, etc.)
  • Letter of Undertaking from Employer

Copies must be supported by originals for verification

  • Branch network
  • B-mobile (*150*13#)
  • Swahiba App
  • Debit Cards
  • BOA Web
Savings Ambitions Plan

Sometimes your ambition is to travel or go shopping, but your savings ironically whisper, “You are not going anywhere.” This plan has been designed to help you to save a little but rewards you double-100% on top of your savings. You can save 1M and withdraw 2m.

  • The Savings Plan Ambition is a traditional savings account backed by a current account
  • It allows customers to accumulate progressive savings depending on its financial capacity
  • The plan is valued at the prescribed rate
    At the end of a period of 12 months minimum and 12 regular payments, customer can benefit from a credit loan to finance an ambition
  • The loan amount is up to twice the saved amount
  • Be aged 18 to 60 maximum at the term of the loan
  • Non blacklisted individuals
  • KYC compliant   

Documents Required:    

  Produce:

  • 2 pictures
  • Certified copy of identity card
  • Proof of address
  • 3 last pay slips and/or Six-month bank statement
  • Letter of Undertaking and/or Scheme agreement

Copies must be supported by originals for verification.  

  • Branch network
Elite Pack

The Elite Banking service offers our customers a higher level of service and expertise in financial management built upon providing a relationship between the customer and the bank.

  • Current account
  • Savings account-linked to the current account
  • HNI Identification Card
  • Free Internet Banking (BWEB)
  • Access to B-Mobile Banking
  • Preferential rates on term deposits and exchange rates
  • Automatic overdraft of up to 50% of the term deposit at preferential bank rates
  • Automatic overdraft of the salary of up to 50% of the net salary.
  • Elite customers can bank at any branch and are to be served by the branch manager.

Elite Customers

  • Current Account Elite GL 250200
  • Saving account Elite GL 252101
  • Ledger Fees TZS 24,000/=, FCY Equivalent to TZS
  • Minimum Balance TZS 100,000, FCY Equivalent to TZS
  • Unsecured personal loans of up to TZS 30 Million above that, the client will be required to provide security as acceptable by the bank.
  • Third party access to private banking facility i.e. nominated spouses (this is if introduced by Client, full KYC should also be done)
  • Interest on the current account of 0.5%
  • Dedicated relationship manager

Executive Customers

  • Unsecured personal loans of up to TZS 30 Million above that, the client will be required to provide security as acceptable by the bank.
  • Interest on current account of 0.25%
  • Dedicated relationship manager

Ledger fees TZS 12,000/=, FCY Equivalent to TZS

  • Minimum net salary of Elite – TZS 7 million, Executive – TZS 3Million
  • OR Balance sheet size (deposits/loans), Elite –TZS 100ml, Executive – TZS 25ml
  • Salary credited through BANK OF AFRICA TANZANIA
  • Non blacklisted individuals
  • KYC compliant
  • Branch network
  • B-mobile (*150*13#)
  • Swahiba App
  • Debit Cards
  • BOA Web
Payroll Account

We all love the PAYDAY. We created the packaged account that gives you comprehensive and flexible banking options to all our salaried customers. 

  • No Opening balance
  • No Minimum balance
  • No Ledger fee
  • ATM / Visa card
  • SMS Alert
  • Access to Mobile Banking
  • Available in Tanzania Shillings, GBP, US $ and the Euro.
  • Aged minimum 18 years and maximum 60 years
  • Salaried workers of approved list of Employers
  • Non blacklisted individuals
  • KYC compliant
  • Branch network
  • B-mobile (*150*13#)
  • Swahiba App
  • Debit Cards
  • BOA Web