The school savings account is a special NMB savings product developed to help parents save for the future cost of their child's education.

What is it ?

The NMB School Savings Account is a product that helps you to manage you money and save for your child's future education.

By setting aside a minimum of TZS 10,000 for 2 years, you quickly build up a sound financial basis for educational purposes. Withdrawal is only allowed through payments to schools, so you can be certain that your money will reach its intended goal. Only the parents are authorised to operate the account.

For whom?

The NMB School Savings Account is ideal for every parent that would like to save for the future education of his or her child.

The age of your child does not matter, since it is never to late to start saving. However, the sooner you start saving the better

How to buy?

What you need to open a NMB bonus account

• Existing NMB customers do not have to bring anything, as their data is already on file.
• If you are a new customer, you are required to bring
• Your identity card
• 2 passport-sized photographs with a blue background
• 2 completed reference forms and a letter of introduction from the employer of Local Government Authority such as your VEO / WEO.
• Non-Tanzanians are required to bring their passport, work permit and resident permit.
• An opening balance of TZS 10,000

Where to buy?

If you are interested in this product, please contact your nearest NMB branch. You can use the branch finder on this website to find the one closest to you.