STANBIC BANK LAUNCHES HATUA ACCOUNT FOR CHILDREN

Stanbic Bank Tanzania Limited launches its Hatua Account in an effort to empower its customers’ financial success by promoting a saving culture for children.

Dar es Salaam, Saturday 06th January 2018 - Stanbic Bank Tanzania has launched Hatua account, a new savings solution that supports parents and guardians to save for their children while instilling a savings culture at an early age.

Stanbic bank continues to create banking solutions that promote financial growth and creation of wealth. It is through such products that the bank provides its customers with solutions that suit the needs of the family, helping their children grow with the bank and pave way for them to build their financial success for the future.

Speaking during the launch in Dar es Salaam, the bank’s Head of Sales, Shangwe Kisanji said, “we are constantly seeking ways to support our customers with managing their finances which includes saving for their children from an early age. The Stanbic Bank Hatua Account will empower their children’s future financial success, that will carry them through their life aspirations.”

The Stanbic Bank’s Hatua Account is a good way to graduate your child from piggy-bank saving to formal banking for children. The account does not attract management fees unless the balance falls below TZS 20,000. The account is reasonably flexible to allow one free withdrawal per quarter to assist with expenditure such as school fees and others.

Being an interest earning banking solution, the Hatua account rewards customers in accordance with their saving, through its competitive interest payment. Stanbic Bank’s Hatua Account helps the young generation save in a disciplined manner. “It is never too early to begin building a solid future based on an appreciation of how money can grow in value,” Shangwe adds. “Teaching children about financial planning matters is therefore one of the greatest legacies a parent can leave upon a child. As a bank, we want to partner with families to help them achieve their dreams,” concludes Shangwe.

Note to Editors

Stanbic Bank Tanzania is part of the Standard Bank Group, Africa’s largest bank by assets. Stanbic Bank Tanzania provides the full spectrum of financial services. It’s Corporate and Investment Banking division serves a wide range of requirements for banking, finance, trading, investment, risk management and advisory services. Corporate and Investment Banking delivers this comprehensive range of products and services relating to: investment banking; global markets; and global transactional products and services.

Stanbic Bank’s corporate and investment banking expertise is focused on industry sectors that are most relevant to emerging markets. It has strong offerings in mining and metals; oil, gas and renewables; power and infrastructure; agribusiness; telecommunications and media; and financial institutions.

Stanbic Bank Tanzania’s personal and business banking unit offers banking and other financial services to individuals and small-to-medium enterprises. This unit serves the increasing need among Tanzania’s small business and individual customers for banking products that can meet their shifting expectations and growing wealth.