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 study found that, bank charge and transaction cost of mobile bank was found negative and significant related to personal financial savings. However, ease of access of mobile banking services was found positive and significant related to personal financial savings. Therefore, the study concludes 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.