Tanzania: Bank Deposit Interest Rates Now On the Rise

DEPOSITORS have all reason to smile as they now envisage to earn more returns from the money banked in financial institutions, thanks to competition that has lifted up interest rates.

This means people who deposited their money in banks during the past 12 months reaped some better interest earnings than those they earned before. The trend follows high deposits demand to create disequilibrium which went against the law of demand and supply to favour saving and fixed account holders.

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