NMB BANK LAUNCHES A SPEND TO SAVE WALLET

• Spend to Save is accessible for NMB Customers with Personal, Chap Chap and Mwananchuo account holders

NMB Bank PLC has today launched an automatic saving mechanism through transactions aiming at helping customers build a healthy saving habit. The saving mechanism is dubbed – Spend to Save Miamala yako ni akiba yako.

Spend to Save is the first of its kind in the market where a customer can save through transactions made. This is an automatic way of savings through purchase which requires committing to saving a proportion (in per cent) based on each purchase and usage a customer performs with the bank.

With this launch, a special wallet attached to a customer account shall be created once a customer registers for this service at the nearest NMB ATM. The saved amount shall be eligible to gain an annual interest of up to 2.5%, paid monthly depending with the amount saved.

The current account holders will need to visit NMB ATM’s to sign up and will decide what percentage of every transaction will be deducted and sent to the wallet as savings. Customer can opt to automatically save between 2 – 10 per cent of all expenses made from ATM, POS, NMB Direct or Mkononi.

The NMB Bank Chief Retail Banking – Filbert Mponzi said: “We are expanding our current account offer to help more customers feel confident about managing their money. Spend and Save in the wallet is packed full of features that will help customers build a healthy savings habit and make the most out of their money.

Mr Mponzi further said, NMB Bank has done a scan on customer accounts and their transactions and realized that many people do not save, to help them, the bank decided to come up with a new wallet that will help people save for the future.

To withdraw from the wallet, a customer can do a transfer from the wallet to the account which allows up to 50 per cent of the amount saved, a customer can also opt-out of the Wallet and the saved amount will be deposited to the account. All these activities are done through NMB ATM.

Eunice Chiume, NMB Bank Plc Head; Communications and Corporate Affairs

Email: [email protected]

About NMB:

NMB Bank Plc. (“NMB”) is a full-service commercial bank incorporated in the United Republic of Tanzania. Through its 4 main business divisions: Retail, Wholesale, Agri and Treasury, NMB provides a suite of financial services and products to retail customers, farmers, SMEs, Corporates, Institutions and the Government.

The bank has 225 branches, over 9,000 Agents (Wakala) and more than 800 ATMs across the country and is represented in all districts of Tanzania. NMB has over 4 million customers and employs over 4,000 staff. It is listed at the Dar Es Salaam Stock Exchange and its largest shareholders are the strategic partners Arise B.V with a 34.9% shareholding and the Government of Tanzania with a 31.8% shareholding.

Euromoney awards for excellence selected NMB as the “Best Bank in Tanzania” for 8 years in a row from 2013-2020. The bank has been named The Safest Bank in Tanzania for the year 2020 by Global Finance Magazine. NMB Bank was also awarded as the Best Blended Finance Partner in Africa for banks working with International Finance Corporation (IFC) of the World Bank Group in 2019. Also, the Best Retail and Best Commercial Bank in Tanzania by the Banker East Africa Magazine in 2018. For more information about NMB and its services, please visit our website: www.nmbbank.co.tz