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. Customer can have the interest being channeled to a respective/beneficiary account within BANK OF AFRICA - TANZANIA.
Features and Benefits:
• 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 your personal loan application
• Client opens an account with BANK OF AFRICA- TANZANIA.
• The minimum deposit amount allowed on the Vuna account is TZS 10Million.
• Client advises which account the interest to be transferred to.
• Branch staff to ensure standing order is placed against the interest account to the beneficiary account 1 day after the monthly, quarterly or bi-annual maturity date as specified by the customer.