As MuCoBa is regulated by the Bank of Tanzania, it can provide saving services. All of its clients have a saving account. Surely for the community members this means the opportunity to keep their money on a safe place. In good times, clients can save money that can assist them in financial difficulties.
MuCoBa offers two types of saving facilities, Savings Deposits and Time/Fixed Deposits.
MuCoBa Saving Deposits
Under savings deposit a client opens an account and can deposit or withdraw his/her money on demand.
Savings products of MuCoBa are designed to suit different levels of clients. These products include those which are meant for small entrepreneurs, relatively large entrepreneurs and for the benefit of children and education.
MuCoBa offers a very attractive interest rate for its saving products.
MuCoBa Fixed/Time Deposits
Under fixed/time deposit a client opens an account and can deposit for a specified period of time, for example for three, six, nine or twelve months. Usually, interest rates for fixed/time deposits are higher than for saving deposits.