Deposit

Deposit Products

• Demand Deposits Product

  Features of Ordinary Demand Account

  
  

  i. It is a non-interest bearing account operated by cheque; 

  ii. It can be opened with zero balance given that there is a reasonable source of fund that can bring the balance to the minimum amount required; 

  iii. It can be opened and/or operated by a legal agent in the name of the principal as long as the customer produces Power of Attorney given by the concerned government office and we shall request legal opinion of the bank legal service;

  iv. It can also be operated by using card, mobile and Internet banking; 

  v. It can be opened with a minimum balance of Birr 500 (Five Hundred) for individual and Birr 1,000 (One Thousand) for corporate customers; and

  vi. No restrictions on the number and amount of deposits and withdrawals as per NBE respective Directive.