NMB ROLLS- OUT ‘WEKEZA’ TO DRIVE CUSTOMERS LONG TERM SAVINGS

*Customers to get lucrative returns on investment as well as free Life insurance cover

NMB Bank’s Chief of Retial Banking, Filbert Mponzi (third right), launching a long-term savings account that offers attractive returns on investment and additional free life insurance held today in Dar es Salaam. From left are NMB Sales Manager, Darius Elius, NMB Product Manager, Janet Rwegasila, NMB Bank's Head of Product, Aloyse Maro, Special Customer Unit Head, Getrude Mallya and right is Senior Product Manager, Beatice Mwambije. (By Our Photographer).

 

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 toadopt 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.

“We develop products that help people save time and money. And we are using the latest technology to do so. We want everyone to be in full control over their personal finances, wherever they are, in a way that is as accessible and customer-friendly as possible.” said Mponzi.