Akiba Vicoba Pamoja Account
We have made it easier than most many others for VICOBA groups to operate a bank account and thus gain easier access to a multitude of other banking services.
To open this account every group member must be 18 years old or above and the minimum opening balance is TZS 60,000. Our VICOBA account has an operating balance of just TZS 50,000 and the interest-bearing balance for this account is also TZS 50,000 at a competitive rate of 3.5% accrued monthly but paid annually.
Your group will be issued with a branded card with photographs of the 3 signatories.
SO, WHAT’S IN IT FOR YOUR GROUP?
Well, all this:
- No monthly fees
- Free balance enquiries
- Free transfers between individual and group accounts
- Free withdrawals
SO THEN, TO OPEN THIS ACCOUNT WE ONLY ASK THAT:
- All groups must be registered as VICOBA
- You bring along a letter of introduction from your particular VICOBA group umbrella.
- You also bring your VICOBA group’s constitution.
- You submit a resolution letter mentioning account signatories
- The signatories submit formal ID’s, two passport-size photographs, and a letter of endorsement from the local government
NOTE: the account will be opened with 3 signatories, but 2 will have the mandate to sign.
For further information please visit any Akiba branch near you or call +255 746 811 510