In most recent years, following the fast and widely moving Information and Communication Technologies; traditional banking businesses are being replaced by modern and technology based banking product and services. The ever changing global business environment is enforcing banks all over the world to internalize latest technologies with introduction and implementation of new products and services. The Ethiopian banking business is also moving towards these modern banking services with the implementation of these technologies. New product development is one of the areas in which Ethiopian banks are giving special attention in order to boost their market share in the industry. In this regard, in the most recent years, the introduction and implementation of Internet Banking, Mobile and Agent Banking, Card Banking services and Interest Free Banking products and services are some of the major products and services being implemented.

NIB’s Products

Saving Account

Savings account is an interest bearing deposit. Individuals, organizations and associations can maintain saving accounts as long as they are legal and meet the procedural requirements set by the Bank. Deposit and withdrawal from this account shall be made upon presentation of the passbook issued to the account holder at the time of opening. The account is opened with the minimum initial deposit of only Birr 10.00

Special Saving Account

This account is a saving account established for those who are interested to save with interest and also effect payments through cheques. Special savings are interest-bearing accounts operated by cheques. To be eligible for the interest per annum, the frequency of withdrawals from this account should be limited.Otherwise, depositors will forfeit interest for that particular month.

Demand Deposit Account

Demand Deposit Account (current or checking account) is a non-interest bearing account and is opened or operated by literate customers only. The account holder effect withdrawal using cheque. This account can be opened and/or operated by a legal agent in the name of principal, against producing a power of attorney. The minimum amount required to open the account is Birr 1000.00 for companies, association and enterprises, etc and Birr 500.00 for individuals.

Nib Kefo Deposit Account

No matter what your business is, whatever you do, you can save even fraction of cents every day but you don’t need to come to our bank. We are coming to your home with our innovative saving service known as Nib kefo Saving.

Fixed Time Deposit Account

Fixed time deposit is a deposit mobilized for a specific period of time. It attracts higher interest rate than the prevailing saving interest rate. The interest rates applied vary depending on the amount and duration of the deposit, that is the bigger the amount deposited and the longer the time of maturity, the higher the interest rate applied. The minimum amount accepted for fixed time deposit should not be less than Birr 50,000.00.

Lucy Saving Deposit Account

Lucy deposit account is women saving account established to encourage women to save and earn higher interest rate. Any women can open lucy saving account with an initial deposit amount not less than Birr 10 (ten).

Gojo/Guzo Saving Account(A)

This account is established for those customers who want to save money to purchase a house or Vehicle.This account can be opened by all Ethiopian nationals, who receive their remittance either through International Money Transfer Agents, SWIFT or exchange the hard currency at any of NIB’s branches. In addition, Diasporas (Non-Resident Ethiopians or Non-Resident Foreign National of Ethiopian origin), can also open the account. There is no initial minimum balance to open the account; the account may be opened with Zero (0) balance.

Gojo/Guzo Saving Account(B)

This account is established for those customers who are interested to save with higher interest rate and also effect withdrawal at any time.This account can be opened by all Ethiopian nationals, who receive their remittance either through International Money Transfer Agents, SWIFT or exchange the hard currency at any of NIB’s branches. In addition, Diasporas (Non-Resident Ethiopians or Non-Resident Foreign National of Ethiopian origin), can also open the account. There is no initial minimum balance to open the account; the account may be opened with Zero (0) balance.

New Born Baby Deposit Account

New born saving is a saving service and it has designed for kids and depicts NIB’s great concern for posterity. In this saving service parents will save for their new born babies. We are strongly believed on intact potential of women’s economic, social and political role in our society. Lucy saving is introduced in our bank to meet this farsighted objective. Executives, senior citizens, students and small business owners are considered in our new and innovative saving services.

Student Saving Deposit Account

This deposit account is established to students to attend higher education and settlement of cost-sharing scheme. Students at any college or university can open student saving account with an initial deposit amount not less than Birr 10(ten).

Prestige Saving Deposit Account

This account shall be established for organizers of Equb, Idir, religious organization and others. Administrators of various organizations such as; Equb, Idir, religious organization and others can open prestige deposit account with an initial deposit amount of not less than Birr 5,000.0 (Five thousand).

Senior Citizens Saving Account

Senior citizen saving account is a saving account opened by all Ethiopian nationals. The purpose of this account is to encourage the citizens to save for retirement golden age consumption/treatment in advance. Any person can open senior saving account with an initial deposit amount not less than Birr 25,000.0 (Twenty Five Thousand) for future period or age of retirement consumption/treatment.

Children Saving Deposit Account

This account is established for those who has not attained the age of maturity or age of 18 years old. The parents or the legally appointed guardian of the children should process the saving account opening, withdrawal and deposit formalities. The parents or the guardian may open an account in the name and on behalf of the children.

Children Saving Deposit Account

This account is established for those who has not attained the age of maturity or age of 18 years old. The parents or the legally appointed guardian of the children should process the saving account opening, withdrawal and deposit formalities. The parents or the guardian may open an account in the name and on behalf of the children.

Special Demand Deposit Account

Special demand deposit account is a non interest bearing account that is opened to fulfill the requests of those customers who do not want interest payment for their deposits.

Executive Special Saving Deposit Account

Executive deposit account is an account established for senior executives and higher officials or general managers of various organizations Administrators of various companies such as; Cooperatives, Associations, Unions, organizations ( private, government and Non-Governmental), share companies etc can open executive deposit account with an initial deposit amount of not less than Birr 10,000.0 (Ten thousand). CEOs, General Manager, Deputy General Manager and Finance managers are eligible to open this account. This type of account is a special saving account operated by cheque;

Non Resident Currency & Deposit Account

Non-resident foreign currency account is a non-interesting bearing account denominated in foreign currency.

Holiday,Vacation Special Purpose Saving Account

This account shall be established for holiday specific to the account holder(s) to undertake certain venture, a project, vacation, trip, marriage or graduation etc. This account can be operated either individually or jointly, however, the joint signatories will not be more than two individuals, with two recent photographs each. The initial deposit to open this account should not be less than Birr 10.00.