Special Institutional Account was designed by NMB to offer the targeted customer base a business account that is cost effective for their daily operations. This product is offered in all major currencies: TZS, USD, GBP & EUR. It is crucial that institutional customers are offered products that can minimize their cost in order to fulfill their needs. These non-profit organizations are generally weary of all costs reducing their funds directly available for good causes they pursue. 

Product Features

The Special Institutional Account will have most features of the Business Accounts. The notable exceptions are as follows; 

  • No monthly ledger fees 
  • No monthly foreign currency fees 
  • No minimum operating balance 
  • Free balance inquiry 
  • Free TZS cash withdrawal 
  • Free cash deposit 
  • Free cheque book request 
  • Free cheque deposit 
  • Free bankers cheque 
  • Free incoming transfers 
  • Free internet banking user monthly charges 
  • Free sweep instructions 
  • Free standing instructions 

Product Benefits: 

  • Very affordable 
  • Cheap to maintain 
  • Easy to open an account 
  • Available in Tshs and forex currencies 

Who would benefit?

The Special Institutional Account is designed for the following target market; 

  • International NGOs
  • International Religious Organizations 
  • International Organizations
  • Embassies