Compare savings & fixed deposit rates in Tanzania
🎯 Not sure which is right for you? Get a personalised plan ranked for your situation. Get my plan →CRDB Bank Savings Account
★★★★☆
CRDB states the account is subject to monthly and transactional charges; amounts are not published on the page
Monthly Fee
Licensed bank on the Bank of Tanzania register of licensed institutions
Licence
A first savings pot you can open from your phone and still reach through ATMs
Best For
bank
Type
Pros
- Low entry point — CRDB states an initial opening amount of TZS 20,000
- Can be opened through the SimBanking app rather than a branch visit
- CRDB advertises free KAVA Assurance cover: life cover of up to TZS 2 million plus accidental disability cover
Cons
- The interest rate is not published, so you cannot compare the return before opening
- CRDB confirms monthly and transactional charges apply but does not say how much
- Card and ATM access make it easy to dip into, which works against a savings goal
Fees, eligibility & documents
Fees
Initial opening amountTZS 20,000, or USD/EUR/GBP 100 (CRDB product page)
Monthly and transaction chargesCRDB states the account is subject to them but does not publish the amounts — ask for the tariff guide
Eligibility
- Aged 18 or over
- Valid ID: NIDA ID or number, voter's ID, passport, driving licence or Zanzibar ID
Documents needed
- Valid legal ID
- Two passport-size photographs if you do not have a NIDA ID or number
No monthly fee
NBC Pure Save Account
★★★★☆
NBC states there are no monthly maintenance fees
Monthly Fee
NBC states National Bank of Commerce Limited is regulated by the Bank of Tanzania
Licence
Saving towards a named goal when you want the friction of limited withdrawals
Best For
bank
Type
Pros
- NBC states there are no monthly maintenance fees on the account
- Interest is paid monthly and calculated on your balance, so small balances still earn
- Open to non-NBC customers, and you can top it up from your phone
Cons
- The interest rate is not published, so the return is unknown until you ask a branch
- Withdrawals are deliberately limited, which is the point but does not suit an emergency fund
- You have to visit a branch to open it
Fees, eligibility & documents
Fees
Monthly maintenanceNone, per NBC's product page
Interest rateNot published — NBC states only that interest is paid monthly based on your balance
Eligibility
- Open to both existing NBC customers and non-customers
- Valid identification and proof of residential address
Documents needed
- Valid ID (passport, driving licence, national ID or voter's card)
- Proof of residential address: recent utility bill under six months old, local government letter or lawyer's letter
- Two passport-size colour photographs if you are not already an NBC customer
Exim Bank Haba na Haba Savings Account
★★★★☆
Exim states the account has no monthly charges
Monthly Fee
On the Bank of Tanzania register of licensed banks
Licence
Building a habit of small monthly deposits rather than parking a lump sum
Best For
bank
Type
Pros
- Exim states there are no monthly charges on the account
- Interest is accrued on daily balances and paid monthly, so money starts earning immediately
- Modest opening deposit compared with a fixed deposit
Cons
- Exim's own pages carried inconsistent rate claims at the time of checking — verify the figure in writing
- Branch visit and a local-government letter are needed to open
- A regular-saving structure is less useful if your income is irregular
Fees, eligibility & documents
Fees
Credit interestExim's product page states up to 4% a year, accrued on daily balances and paid monthly — see notes on a conflicting figure elsewhere on Exim's site
Minimum opening depositTZS 50,000, per Exim's product page
Eligibility
- Personal customer with valid identification
- Able to provide proof of residence or, for foreigners, a resident permit
Documents needed
- Two passport-size photographs
- One valid ID: passport, national ID or driving licence
- Proof of residence (ward letter) or resident permit, plus a letter from the local government authority
Exim Bank Tanzania Fixed Deposit
★★★★☆
Not applicable — a term deposit, though breaking it early normally costs you interest
Monthly Fee
On the Bank of Tanzania register of licensed banks
Licence
Money you are certain you will not need for a set period
Best For
bank
Type
Pros
- Rate is fixed for the term, so the return is known before you commit
- Available in TZS, USD, GBP and EUR, which suits savers holding foreign currency
- Relatively accessible opening balance for a fixed deposit
Cons
- Exim does not publish the actual rates or the available tenures on the page
- Your money is locked for the term; early access normally means losing interest
- A fixed shilling rate can still lose ground to inflation — compare against the return you would get elsewhere
Fees, eligibility & documents
Fees
Minimum opening balanceTZS 100,000, or USD/GBP/EUR 500, per Exim's product page
Interest rateNot published — Exim states only that rates are guaranteed and that longer periods earn a higher return
Eligibility
- Personal customer with valid identification
- Funds available to lock away for the chosen term
Documents needed
- Valid ID (passport, national ID or driving licence)
- Proof of residence
- Passport-size photographs, per Exim's standard account-opening requirements
Balanced fund
UTT AMIS Umoja Fund
★★★★☆
No entry load; a 1% exit load is deducted from NAV on repurchase, per the fund's page
Monthly Fee
A unit trust scheme; collective investment schemes in Tanzania are approved and regulated by the CMSA
Licence
Medium to long-term growth money you can leave invested through market swings
Best For
digital
Type
Pros
- Very low entry: the minimum investment is the sale value of just 10 units
- No entry load, no lock-in, and you can buy or sell on any business day
- You can open and fund it by phone — the fund lists USSD *150*82#, the app, banks and mobile money
Cons
- It holds listed equities (capped at 50% of assets), so the value can fall as well as rise
- A 1% exit load applies on repurchase, so short holding periods are penalised
- Repurchases are processed within ten working days, which is slow if you need cash quickly
Fees, eligibility & documents
Fees
Entry loadNone; units are sold at Net Asset Value, per the fund's page
Exit load1% deducted from NAV on repurchase, per the fund's page
Eligibility
- Individual or joint investors
- Able to meet the minimum of the sale value of 10 units
Documents needed
- Valid ID (NIDA, passport or other accepted identification)
- Mobile number registered for M-Pesa, Airtel Money or another accepted payment channel
- Bank account details for redemptions
Cash-like
UTT AMIS Liquid Fund
★★★★☆
No entry load and no exit load, per the fund's page
Monthly Fee
A unit trust scheme; collective investment schemes in Tanzania are approved and regulated by the CMSA
Licence
An emergency fund or short-horizon money you want working harder than a current account
Best For
digital
Type
Pros
- Neither an entry nor an exit load, so short holding periods are not penalised
- Portfolio is 100% money market and debt instruments — far less volatile than an equity-holding fund
- Repurchases processed within three working days, the quickest of the UTT AMIS range
Cons
- Three working days is still slower than a bank withdrawal, so it is not instant-access cash
- Returns move with interest rates and are not guaranteed
- The top-up minimum makes very small, frequent contributions impractical
Fees, eligibility & documents
Fees
Entry and exit loadNeither an entry nor an exit load, per the fund's page
Minimum investmentTZS 100,000 initially, TZS 10,000 for additional investments, per the fund's page
Eligibility
- Individual or joint investors
- Able to meet the TZS 100,000 initial minimum
Documents needed
- Valid ID (NIDA, passport or other accepted identification)
- Mobile money or bank details for funding and redemptions
People also compare
Ad
