Influence of Mobile Banking Affordability on Personal Financial Savings in Dodoma City, Tanzania

Abstract

The study examined the influence of mobile banking affordability on personal financial savings in Dodoma City. The study employed a cross-sectional survey design and convenience sampling technique. Three hundred seventy (370) bank customers were surveyed through a self-administered questionnaire. The study adopted quantitative data analysis whereby descriptive statistics and multiple linear regression analysis were used. The findings revealed that that bank charge and transaction cost   of mobile bank were negative and significantly related to personal financial savings. Similarly, the findings show that ease of access of mobile banking services was positive and significantly related to personal financial savings. Therefore, the study conclude that, affordability of mobile banking service in terms of ease of access influence positively personal financial savings while bank charge and transaction cost influence negatively personal financial savings. To enhance the affordability of mobile banking for personal financial savings, banks should focus on fee transparency and offer lower-cost account options to ensure accessibility and cost-effectiveness for all customers.

Keywords: Mobile Banking, Affordability, Personal Financial Savings, Dodoma city, Tanzania

DOI: 10.7176/EJBM/16-1-03

Publication date: January 31^st 2024