Vikundi (Group) Account
Designed for informal groups to create a safe and simple access to banking services, collection and management of funds while earning interest on their account
TZS 100,000
Minimum Initial Deposit
ZERO
Monthly Fee
Some of the benefits
Affordable
ZERO monthly fees and free internal transfers
Save together
Make unlimited deposits and get immediate access to all or part of your savings
Access
Ability to deposit cash any time at our CDMs, ATMs, branches and wakala
Grow your deposits
Attractive interest rates to grow your balance
What you get
- Available in TZS
- Earn interest on deposited funds
- Interest is calculated daily and paid out monthly
- Unlimited deposits with immediate access to funds
- Ability to make deposits and withdrawals at any branch
- Access to group SIDO training, Wellness programs and incubation opportunities.
- Access to the account through STANBIC Wakala for deposits and withdraws
- Access to various insurance products for the Group/Kikundi
What it costs
- ZERO Monthly fee
- Minimum account opening balance TZS 100,000
- Pay as you transact (see our Tariff Guide)
How to get it
- A filled and signed account opening form
- Eligible to Members above the age of 18 and below 70
- Group leaders & Signatories’ NIDA cards or NIDA number
- Group leaders & Signatories’ passport size photos
- Minutes of the meeting that clearly state the following: Name of the group, Members’ agreement to open an account with Stanbic Bank, List of all members & group leaders and their levels, List of appointed signatories and signing mandate to allow payments (At least 3 signatories), minutes should be Signed by all members
- Group constitution signed by all members
- Completed application letter
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What you get
-
What it costs
-
How to get it
- Available in TZS
- Earn interest on deposited funds
- Interest is calculated daily and paid out monthly
- Unlimited deposits with immediate access to funds
- Ability to make deposits and withdrawals at any branch
- Access to group SIDO training, Wellness programs and incubation opportunities.
- Access to the account through STANBIC Wakala for deposits and withdraws
- Access to various insurance products for the Group/Kikundi
- ZERO Monthly fee
- Minimum account opening balance TZS 100,000
- Pay as you transact (see our Tariff Guide)
- A filled and signed account opening form
- Eligible to Members above the age of 18 and below 70
- Group leaders & Signatories’ NIDA cards or NIDA number
- Group leaders & Signatories’ passport size photos
- Minutes of the meeting that clearly state the following: Name of the group, Members’ agreement to open an account with Stanbic Bank, List of all members & group leaders and their levels, List of appointed signatories and signing mandate to allow payments (At least 3 signatories), minutes should be Signed by all members
- Group constitution signed by all members
- Completed application letter