Vicoba Account

OUR VICOBA ACCOUNT WILL TAKE YOUR GROUP FURTHER

We have made it easier than most many others for VICOBA groups to operate a bank account and thus gain easier access to a multitude of other banking services.

To open this account every group member must be 18 year old or above and there is no requirement for an opening balance. Our VICOBA account has an operating balance of just TZS50,000 and the interest-bearing balance for this account is also TZS50,000 at a competitive rate of 3.5% accrued monthly but paid annually.

Your group will be issued with a branded card with photographs of the 3 signatories.

SO, WHAT’S IN IT FOR YOUR GROUP?
Well, all this:

  • No monthly fees
  • Free balance enquiries
  • Free transfers between individual and group accounts
  • Free withdrawals

SO THEN, TO OPEN THIS ACCOUNT WE ONLY ASK THAT:

  • All groups must be be registered as VICOBA
  • You bring along a letter of introduction from UYACODE, CEVEDE or PHILETAJO
  • You also bring your group’s or UYACODE, CEVEDE or PHILETAJO consitution
  • You submit a resolution letter mentioning account signatories
  • The signatories submit formal Ids, two passport-size photographs, and a letter of endorsement from the local government

NOTE: the account will be opened with 3 signatories, but 2 will have the mandate to sign.