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A person who is making a deposit with the bank is known as a depositor/ someone who puts money in Nib Bank/.
The deposit itself is a liability owed by the bank to the depositor, and the word refers to this liability rather than to the actual funds that have been deposited. When someone opens a bank account and makes a cash deposit, he surrenders legal title to the cash, and it becomes an asset of the bank. In turn, the account is a liability to the bank.
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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.
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Kids need to learn that if they really want something, they should wait and save to buy it. The ability to delay gratification can also predict how successful one will be as a grown-up.
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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.
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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.
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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.
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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
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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).
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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.
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NIB has already introduced four Interest Free deposit and investment products: such as Wadiah Amanah (Safekeeping Saving Account), Qard (Current Account), Mudarabah (profit/loss Sharing) saving account and Mudarabah fixed time deposit.
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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.
