As a Business Banking customer you earn higher interest on your fixed deposits than Personal Banking customers, with accounts available in both local and foreign currencies.

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What you get
  • We offer fixed deposit accounts in both local and foreign currencies
  • Choice of account currency (TZS, GBP, EUR and USD)
  • A fixed rate of return over an agreed period of seven days to one year calculated flat on the principal
  • As a business banking customer you earn higher interest on your fixed deposits
  • Minimal cost on breakage of the deposit before maturity
  • A dedicated Relationship Manager is assigned to your account. Please consult our Relationship Managers for availability of fixed deposits in other foreign currencies
What you need to know
  • Minimum deposit amounts apply
  • To open a Fixed Deposit Account for your business, you are required to have a Business Current Account with us. 
  • Upon applying for your Fixed Deposit Account, you can provide us with instructions on how to manage the principal and interest in the account upon maturity of the deposit or provide instructions when you receive your Renewal Notice
  • You may ask us to roll over the deposit plus interest at current rates, to roll over the deposit only and credit the interest your current or call account, or to credit the principal plus interest to your current or call account
  • While you are guaranteed a fixed interest on the principal, you will be charged a breakage fee, should you break your deposit prior to maturity
  • You may use the balance in your fixed deposit account as a security for our Secured Business Loan or Secured Overdraft Facility
What to bring when you apply
  • Your business registration documents such as business name registration certificate in case of sole traders or partnerships, or company registration certificate and other company formation documents, such as memorandum and articles of association in case of companies
  • Business licence certificate if applicable to your business type
  • A documentary proof of business address
  • ID documents (passport, voter’s ID, driver's licence or National ID for Zanzibar only)
  • A documentary proof of address (not more than three months old) such as a utility bill for proprietor, partners, shareholders and/or directors

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