BARCLAYS BANK TANZANIA LAUNCHES 15% UPFRONT INTEREST ON FIXED DEPOSIT

Barclays Bank Liability Product Manager, Innocent Chonya (right), addresses reporters at a media conference during the official launch of Barclays’ 15 percent upfront interest on fixed deposit in Dar es Salaam. Barclays becomes the first bank in the Tanzanian market to offer the upfront interest facility. He is flanked by Barclays Bank Marketing Manager, Joe Bendera.

Dar es Salaam – Barclays Bank Tanzania unlocks the fixed deposit

Speaking at the launch which took place at the bank’s Head Office, Barclays Liability Product Manager, Innocent Chonya said “The current market notion that when one invests in a fixed deposit he or she must wait until maturity to realize there interest is a thing of the past. We can confidently say that, Barclays is the first bank in the market to give its customers the opportunity of earning up to 15% interest upfront on their fixed deposit”. 

We are now able to provide customers the flexibility of either earning their Interest upfront, meaning we shall pay you interest at the beginning of your Investment, earning your Interest regularly, meaning we shall pay you interest monthly over the investment period or earning your Interest on maturity, meaning we shall pay you interest at the end of your investment period.  All our flexible options still allow our customers to enjoy high interest rate over the investment period.

He continued, “At Barclays we are here to enable our customers Prosper  and hence we aim to provide them with consistent experience that are more flexible, convenient and responsive to their needs.  Barclays means what it says; committing to giving our customers consistent yet superior banking experience every time they interact with us. Life’s uncertainties can make you weary of locking your savings, now you can rest at ease that you will be able to enjoy a pay out of up to 15% upfront on your fixed deposit”

For further information 0please contact:

Aron Luhanga

Head, Marketing & Corporate Relations

Barclays Bank Tanzania

+255 768 221 717

aron.luhanga.@barclays.com

About Barclays Bank Tanzania

Barclays Bank Tanzania has been operating in Tanzania for the past 10 years and currently boasts a network of 17 branches, 51 ATMs strategically located countrywide.

Barclays Bank Tanzania Limited first opened its doors in Tanzania in 1925 and continued to operate in the country until 1967 when its Tanzania operations were nationalized to become National Bank of Commerce. With the liberalization of the economy in 1990s, Barclays Bank Plc made a decision to re-enter the Tanzania market and re-opened its doors in the year 2000. Barclays Bank Tanzania now has 17 branches, 51 ATMs strategically located countrywide, over 400 employees and over 110,000 customers.

About Barclays Africa Group Limited
  

Barclays Africa Group Limited (Barclays Africa Group or the Group) is 62.3% owned by Barclays Bank PLC (Barclays) and is listed on the JSE Limited. The Group is one of Africa’s major financial services providers offering personal and business banking, credit cards, corporate and investment banking, wealth and investment management as well as bancassurance. We combine our global product knowledge with regional expertise and have an extensive, well established local presence.

 The Group was formed through combining Absa Group Limited and Barclays’ African operations on 31 July 2013. Reflecting the enlarged group’s pan-African focus, our name changed from Absa Group Limited to Barclays Africa Group Limited on 2 August 2013.