BARCLAYS LAUNCHES 15 % UPFRONT INTEREST IN FIXED DEPOSIT

 

Barclays Bank Liability Product Manager, Innocent Chonya (right), addressing a media conference during the official launching of Barclays 15 percent upfront interest in fixed deposit in Dar es Salaam today. Barclays becomes the first bank in Tanzania market to offer the upfront interest facility. With him is the banks Marketing Manager, Joe Bendera.

17^th October, 2016, Dar es Salaam – Barclays Bank Tanzania unlocks the fixed deposit

Speaking at the launch which took place at the bank’s Head Office, Barclays Liability Product Manager, Innocent Chonya said “The current market notion that when one invests in a fixed deposit he or she must wait until maturity to realize there interest is a thing of the past. We can confidently say that, Barclays is the first bank in the market to give its customers the opportunity of earning up to 15% interest upfront on their fixed deposit”.

We are now able to provide customers the flexibility of either earning their Interest upfront, meaning we shall pay you interest at the beginning of your Investment, earning your Interest regularly, meaning we shall pay you interest monthly over the investment period or earning your Interest on maturity, meaning we shall pay you interest at the end of your investment period.  All our flexible options still allow our customers to enjoy high interest rate over the investment period.

He continued, “At Barclays we are here to enable our customers Prosper  and hence we aim to provide them with consistent experience that are more flexible, convenient and responsive to their needs.  Barclays means what it says; committing to giving our customers consistent yet superior banking experience every time they interact with us. Life’s uncertainties can make you weary of locking your savings, now you can rest at ease that you will be able to enjoy a pay out of up to 15% upfront on your fixed deposit”