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Smart Junior Investor Account

A savings account that allows you to save for your children while earning competitive interest and benefits.

• Opening balance - TZS 42,000 or USD 24 FYC
• Minimum balance - TZS 30,000 or USD 18/GBP12
• Minimum interest earning balance - TZS 1,200,000 or USD 1,200 FYC
• Attractive interest rate
• Free standing order: Minimum TZS 20,000. Lower or higher deposits are accepted for customers who only open accounts for their children only
• No fees for internal transfers into the kids’ accounts
• 4 withdrawals per year
• 30% loan against deposits to be repaid in 3 months
• Insurance policy (optional)
• 1st withdrawal after 3 months of operating account
• Account turns to normal savings account upon attainment of 18 years by account holder
• A Joint Savings ID will be given to the guardian and child
• Kiddie bank issued to account holder if the account balance is above TZS 500,000
• Extra withdrawal (more than the 4 withdrawals per year) attracts a charge of TZS 30,000
• No account opening charges
• No fees charged for transfers into kids account