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Al - Barakah Salary Saving Account

Overview

A savings account designed to facilitate salary payments for employees. It is an account in which employees’ salaries are paid by their employers through the Bank

 Underlying Contract is Qardh.

 Opened in TZS only

 Initial opening amount is TZS 20,000 (for individual applications) and zero for a group application (direct recruitment)

 Minimum operating balance is TZS 10,000

 Monthly Maintenance fee TZS 1500 or USD/GBP/EUR 2.5

 Shariah Compliant i.e. funds are not channeled into impermissible activities.

 Eligible for TemboCard Visa /MasterCard, SimBanking and Internet Banking

 The account cannot be opened or operated jointly

 Customer must be 18 years and above

 Any Legal ID (NIDA ID or Number/Voter ID/Passport/Driving License)

 Employee ID & Introduction Letter from Employer

 Low risk individual customers and customers using NIDA ID are not supposed to provide introduction letter from VEO/WEO

 When opening accounts through Savvy Flow, customer should provide 2 Passport size photos

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