• Language Language
    •   English
    •   Kiswahili
  • List of Agents
  • Tender
  • Career
  • News & Events
  • Branch & ATM
Maendeleo BANK
  • Home
  • About Us
      • Core Value
      • Board Of Directors
      • Management
      • Mission & Vision
      • Company History
  • Personal Banking
      • Personal Current Account
      • Achievers Account
      • Salary Account
      • Ordinary Personal Accounts
      • Ahadi Account
      • Maendeleo Wekeza Account
      • Executive Savings
      • Fixed Deposit
  • Business Banking
      • Business Current Account
      • Community Account
      • Fixed Deposit Account
      • Flexi Fixed Account
  • Treasury Service
      • Foreign Exchange Services
      • Government Securities
      • Fixed Deposit Accounts
      • Advisory Services
  • Insurance Services
      • Motor Insurance
      • Domestic Insurance
      • Travel Insurance
      • Business Insurance
      • Personal Accident Insurance
      • All Risk
  • Loans
      • Executive Loan
      • Agribusiness
      • Jamii Loan
      • Poultry Financing
      • Housing Microfinance Loan
      • Small Group Loans
      • Msme Loans
      • Loans To Saccos
      • Consumer (salary) Loans

Business Banking

  • Business Current Account
  • Community Account
  • FIXED DEPOSIT ACCOUNT
  • FLEXI FIXED ACCOUNT
  • Business Current Account

Business Current Account is a cheque account that is specifically designed to cater for your business banking needs. Enjoy the convenience of paying by cheque and drawing money without restrictions. A current account from MB Bank is ideal for managing and controlling your business transactions anytime, anywhere.

Key features of business account;

Account can be opened and operated in TZS, USD, EURO, GBP

Opening balance of TZS 100,000, and USD 100, GBP 100   and EURO 100.

Cheque to facilitate cash withdrawal and transfers.

Overdraft facility for those who meet loan conditions.

 

Requirements for  a Limited Companies

Certificate of incorporation (Original & Photocopy)

Memorandum and Article of Association

Business License

Minutes with resolution to open an account at MB Bank

Letter of application for account opening

TIN number and or VAT registration certificate

 

  • Community Account

Community account is an account which can be opened and operated by a religious institution and NGO

Benefits of community account

Available in TZS, EURO and GBP

Low opening balance of TZS 50,000 EURO 50 and 50 GBP

Access to MB treasury products and local & international payment facilities (TISS & TT )

Transact through our Branch network

Make deposits into your account easily

Gives you access to the MB credit facilities

Access to Cheque book free of cheque

Local transfers to other banks at free of charge

 

Requirements of a community account

Signatories ID (Voter ID or Driving license or Passport.)

Original and copy of the certificate of registration

Original and copy of the Constitution

Original and copy of the Tax Identification Number (TIN)

Minutes of the meeting appointing names of the officers authorized to operate the account with mandate on how the account will be operated

 

  • Fixed Deposit Account

It is a time deposit with fixed terms where a certain amount of money is kept in the account for predetermined fixed time (Investment duration ranges from 3 or 6 or 9 or 12 months) and competitive interest rate is given

Key Benefits:

Funds are invested in fixed period –for a maximum of one year

Interest is paid on maturity

Investment duration ranges from  3 or 6 or 12 or 24months

Fixed Deposit receipt is given to a customer as certificate of deposits which is presented for payment during maturity

It can be renewed as per customer’s instructions

It can be opened in either of TZS, USD, GBP and EURO

Opening balance is TZS 200,000

Prematurely withdrawal attracts a penalty

  • Flexi Fixed Account

It is fixed deposit account with maximum tenure of a year, where a customer invests funds for a period of 12 months or less with an option to extend period at new agreed terms (Amount, Time and Rate) with an option to received interest income at the beginning, monthly or at the end.

Key Features:

Operating Currency is TZS.

Minimum fixing amount: TZS 200,000

Maturity tenure is 12 months.

Fixed Interest Rate for a period of one year

Interest paid at beginning of the contract

Interest paid Monthly on a different account selected by the customer

(Normally Savings Account)

Interest paid at the end of the contract

Certificate of Deposit/Fixed Deposit Receipt (FDR) is issued

Forego 50% of the interest earned on premature closure
(recovered from the earned interest).

Key Benefits:

High return investment – competitive interest rate is offered

Ability to access interest income before maturity of the investment, at the beginning, monthly or at the end of the tenure.

Risk free investment

Emergency loan of up to 90% of the deposits (lien).

Contact us
Accounts
Insurance
Support
Connect with us
  • Head Office : Luther House,
  • P.O BOX 216, Dar es salaam
  • Email: info@maendeleobank.co.tz
  • Toll Free :0800750089
  • Fax : +255 22 211 595
Maendeleo BANK
Ordinary Saving Account
Fixed Deposit Account
Executive Savings
Achiever Account–For Students
Personal Current Account
Ahadi Account
Salary Account
Maendeleo Wekeza Account
Motor Insurance
Domestic Insurance
All Risk Insurance
Business Insurance
Personal Accident Insurance
Whistle Blower
Complaints
Facebook
Twitter
Instagram
Youtube
  • Home
  • List of Agents
  • Tender
  • Career
  • News & Events
  • Branch & ATM

© 2023 Maendeleo BANK . All Rights Reserved.

Agree
We use cookies to enhance your experience on our website. By continuing to use this website, you consent to the use of cookies in accordance with our Privacy Policy