Your cookie choices

We use necessary cookies to make this site work. With your permission, analytics cookies help us understand usage and marketing cookies support advertising.

You can reject non-essential cookies and still use the site. Change your choices anytime in Cookie settings.

Cookie settingsCookie policy

NMB Bank review

Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026

We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.

Our verdict

NMB Bank is a Tanzanian bank aimed at businesses that can leave a lump sum in a fixed account: a monthly fee of TZS 0, a fixed rate and a 1 to 12 term, with local SWIFT payments behind it. It suits companies in TZ whose cash is not needed before maturity.

Key facts

Best for
Businesses in Tanzania saving a lump sum for a set period.
Monthly fee
TZS 0↗
Currencies
4↗
Transfer fee
Flat fee for outgoing SWIFT, irrespective of the amount transferred↗
Legal entity
NMB Bank Plc.↗
Headquarters
Tanzania↗
Founded
1997↗
Support channels
Email, Phone, Help-centre, Community↗
Audience
Business
Pricing model
No monthly fee, Fixed rate
Official website
nmbbank.co.tz

Savings

Rate type
Fixed↗
Term
1 to 12 months↗
Minimum deposit
TZS 500,000↗
Access terms
Written cancellation notice to access funds before maturity, which forfeits accrued interest↗
Account kind
Fixed↗

Money transfer

Delivery time
Instant credit into beneficiary account on receipt of incoming SWIFT↗
Payout methods
Bank, Wallet, Card↗

Facts checked September 26, 2026, 5 sources

Apps and profiles

Get the app
App Store
Elsewhere
WikidataWikipediaLinkedInXfacebook.com

Pros and cons

Pros

  • Monthly fee of TZS 0 on the fixed account, in line with the €0 site median
  • fixed rate over a 1 to 12 term, so the return is set in advance
  • The personal account holds 4 currencies and pays out to bank, wallet and card
  • Support runs on email, phone and help centre

Cons

  • Taking money out before maturity needs written notice and forfeits the accrued interest on the fixed account
  • The currency range is 4, short of the 15 site upper quartile
  • Support reaches you through email, phone and help centre, and the community option is the smallest on the site at 8.6%
NMB Bank

Ready to try NMB Bank?

Scored 9.2 / 10 by VaultCue.

See alternatives

Who it suits

  • Businesses in TZ that can leave money in a fixed account for a 1 to 12 term
  • Companies paying and receiving through local SWIFT
  • Personal account customers holding 4 currencies and paying out to a bank, wallet or card

Who should look elsewhere

  • Anyone who needs instant access, since early exit from a fixed account forfeits the accrued interest
  • Businesses trading across many currencies, as 4 is well short of the 350 site maximum while Skrill covers 47
  • Businesses wanting live chat support, which sits outside email, phone and help centre; Paysera is the alternative to line up against it

How NMB Bank compares

Where NMB Bank is available

Available
Tanzania

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does the fixed account cost to hold?+

Monthly fees on the fixed account are TZS 0, in line with the €0 site median, and the account carries a no monthly fee and fixed rate profile. The fixed rate is what the balance earns, so the cost side of holding the account is simply keeping it open.

How much do I need to put in?+

The minimum deposit to open the fixed account is TZS 500,000. That sits above the €0.11 site median and the €0 lower quartile, so the account is built for a business with a lump sum rather than small monthly saving amounts.

How long do I have to leave the money?+

Terms run 1 to 12 and the rate is fixed, so the return is set when the account opens. Fixed rate accounts are a smaller share of the listings than the 79% group, which is the most common setup on the site.

Can I get the money out early?+

Accessing funds before maturity means giving written cancellation notice, and the accrued interest is forfeited. On a fixed account that penalty makes it a poor home for cash you might need at short notice, so the full term is worth planning around before placing money.

How does the bank handle international payments?+

Outgoing SWIFT carries a flat fee whatever the amount sent, so small and large payments cost the same. Incoming SWIFT is credited to the beneficiary account instantly on receipt, which helps settle overseas invoices without waiting. The bank is based in Tanzania and has run since 1997.

Which currencies can I hold?+

The personal account covers 4 currencies. The site median is 5 and the upper quartile reaches 15, so the range is narrower than most accounts on the listings. Multi-currency work beyond that pushes toward other providers.

How do I get paid?+

Payouts run to a bank account, a wallet or a card, so staff and suppliers can be paid whichever way they prefer. Support runs on email, phone and help centre, and the account sits under NMB Bank Plc., the entity behind the business focus.

Sources

Compiled from 5 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Licence type, Deposit protection, Currency conversion fee.

NMB Bank

NMB Bank

Businesses in Tanzania saving a lump sum for a set period.

9.2/10See alternatives