Tanzania: CRDB Bank to Pay Sh30m in School Fees

CRDB's retail banking head, Mr Stephen Adili (left) and the head of marketing, Ms Joseline Kamuhanda

By The Citizen Reporter

Dar es Salaam — CRDB Bank Plc will undertake a special campaign for its Junior Jumbo Account in a deliberate move to promote the product that is designed to enable parents to save for their children's school fees and medical expenses.

Through its 'Tumekusoti Ada' campaign, the bank will pay a total of Sh30 million in school fees for its 20 clients who will have excelled in opening Junior Jumbo accounts and/or depositing cash in the accounts.

'Tumekusoti Ada' is a continuation of CRDB Bank's wider 'Jipe Tano' (Give Yourself Five) promotional campaign strategy.

"The promotion, which was launched recently, will close on December 31, 2020.

"During the period, we will pay Sh1.5 million in school fees for each of the 20 winners, bringing the total amount to be dished out to winners to Sh30 million," said the bank's retail banking head, Mr Stephen Adili, said at the weekend.

He said the promotion seeks to sensitize parents/guardians into saving for their children's requirements.

"Our Junior Jumbo Account comes with affordable requirements. It has no monthly and withdrawal charges but it also offers an attractive interest rate on savings," he said.

To participate, one is only required to open a Junior Jumbo Account for one' child and regularly deposit money into it accordingly.

Explaining the progress of the bank's 'Jipe Tano' campaign, head of marketing, Ms Joseline Kamuhanda, said so far, the bank has already issued Sh20 million to over 3,000 clients since the campaign was launched in October. A total of 50,000 accounts have since been opened.