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.
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.
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.
Nib Mar Saving Account is a saving product with different deposit threshold which is designed for customers who intended to save to earn high interest rate and withdraw on demand.
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).
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
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.
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)
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.
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.
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.
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.
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).
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.
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.
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.
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.
Entrepreneurs’ saving account is designed to SME, Youths and Entrepreneurs who want to start or expand their business by saving a certain amount, and the remaining to be financed by the Bank.