MAFAO SAVINGS ACCOUNT
We provide Sharia compliant saving avenue to retirees who have regular income flows and enable them to manage their funds diligently.
Features
- Sharia compliant, based on Mudharabah Contract.
- Available in TZS Only
- Opening balance TZS 10,000/-
- Minimum maintenance balance TZS 10,000/-
- Minimum averagebalance of TZS100,000 to qualify to participate in profit distribution
- Profit to be distributed quarterly
- Free SMS alert
- No Ledger Fees
- No maintenance fees
- Free monthly e-Statements
- Internet banking access
- Mobile banking access
- Free end of year statements of accounts
Benefits
- Easy to open and operate
- Attractive Halal Profits
- Access to Pensioner Financing Scheme
- Dedicated teller with unlimited Transactions
- Convenient Withdrawal Services Through Nationwide Mastercard ATMs
- Free Cash Transfers Within the Bank
- Personalized ATM Debit Card
- 24hrs access through Mastercard network
- ATM Mini Bank Statement
- Free Annual Bank Statement
- No Ledger Fees
- No Hidden Charges
- SMS Alert
Requirements
- One passport size photograph
- Copy of national identity card NIDA / passport / voter card / new driver license
- Introduction letter from local government or utility bill water, (electricity or telephone) having the applicant’s name (in absence of NIDA ID).
