Tanzania Postal Bank : WADU Plus & Salary Account Opening Procedure

Name of the Organization : Tanzania Postal Bank Ltd
Type of Facility : WADU Plus & Salary Account Opening Procedure
Country : Tanzania

Website :
http://www.postalbank.co.tz/index.php/en/products/savings-accounts/wadu-plus
http://www.postalbank.co.tz/index.php/en/products/savings-accounts/salary-account

WADU Plus & Salary Account Opening Procedure :

(SAYE –Save As You Earn): Is a Savings Scheme which enables customers (employed or self-employed) to save a fixed amount of money earned monthly; for a specified period to attain future desired goals.

Related : Tanzania Postal Bank Call & Postal Savings Accounts Opening Procedure : www.statusin.org/6287.html

The periods can be 3, 6,9,12 or 24 months after which a customer is allowed to withdraw the whole amount or part, with an attractive interest added.

Benefits:
** It helps to build a saving culture to customers
** Easy to realise his/her dreams eg.house building, home improvements, paying for educational needs etc
** Customer obtains competitive Interest Rates
** The Saving can act as a security for loan within TPB under LIEN arrangement
** Access to account info (Balance Enquiry,Mini Statement) anytime, anywhere
** The account can be connected with Mobile Banking (TPB POPOTE)

Requirements:
** Initial Deposit of TZS10,000
** 3 recent passport size photos
** Employee’s Identity Card and letter from the Employer or Voter’s Id Card and letter from Ward Executive Secretary

Salary Account:
Is a saving account designed for employees and employers for salaries payment.

Employees Benefits:
** Freedom to use/spent the salaries anytime, anywhere
** Ability to transact through any Umoja Switch ATMs countrywide
** Ability to transact though POS & Mobile (TPB POPOTE) and access utilities like LUKU, Airtime Top Up, DAWASCO, DSTV etc
** Ability to transfer funds from one TPB Account to another using TPB Mobile Banking platform
** Obtaining competitive interest rates annually
** Access to account info (Balance Enquiry, Mini Statement) anytime, anywhere through Mobile Banking
** Receiving Notification whenever there is a credit or debit entry passing into account through Mobile Banking
** Low operating Charges

Employers Benefits:
Very Safe, Low cost with minimum risks as compared to paying salaries through windows.

Conditions:
** Employee’s Identity Card and letter from the Employer
** Initial Opening Deposit of TZS 10,000
** 3 recent passport size photos

FAQs :
How long does it take to open an account with TPB?
TPB has different type of accounts each account has its own requirements. However, in general TPB account takes less than 2days to open your account in any branch in Tanzania.

What is the TPB Swift Code?
Our Swift Code is TAPBTZTZ

What are the requirements for opening an account with TPB?
Identification Letter and for Employees is Introduction Letter, Initial Opening Deposit (this depend on the account you open) and Recent Passport Size Photos

What can I access from TRA Tax Collection from TPB?
You may access the following in any TPB branches countrywide; New Driving License Fee, Income Tax, Development Lavy, Property Tax and Custom Taxes.

Which credit facilities do TPB offer?
TPB offers Business Loans, Consumer Loan, Micro Credit, Bank Guarantee, Personal Loans and Loans Against Lien.