DCB Bank Plc’s Managing Director, Godfrey Ndalahwa said in Dar es Salaam this week during the launch of the product that parents or guardians can chose to contribute to the account for between one year and 17 years.
“DCB Skonga is a special account which assures our clients of guaranteed schools fees payment for their children when they become impotent to work due to accidents or die. One needs to open the account and make monthly contributions for it to be active,” Ndalahwa said.
He further stated that the bank decided to introduce the account after market surveys indicated that there is need for such a products to assure parents and guardians of their children’s future education in case of a disaster.
“At DCB Bank we believe in serving our customers with their needs both immediate and for the future,” the DCB Commercial Bank Plc chief executive added while urging Tanzanians to seize the opportunity and invest in the new account which also offers a handsome interest rate.
The bank’s Commercial Director, James Ngaluko said clients have several options to choose from when opening the account based on age, amount of coverage and period of education being targeted.
“This is the best way to invest in your child’s future but also your own benefit when it matures because it carries interest payment,” Ngaluko said while stressing that when the account holder dies or gets incapacitated to work, the amount saved is paid to them while their children get their education needs covered for the entire period as per contract signed.