Negotiable Order of Withdrawal Account

Negotiable Order of Withdrawal (NOW) Account is high yielding deposit account.

  • NOW Account may be opened with an initial amount of Birr 50,000.00
  • Only 3 free withdrawals are allowed per month but no restriction to deposit intakes.
  • Interest rate applicable to NOW account is 5.25%p.a. higher than the prime deposit rate of 5%p.a.
  • The account can be opened by companies, individual, partnerships, sole proprietors, clubs and societies.
  • Check books are issued to make payments.

Eligible Entities

  • Individual trade operators (sole proprietorship),Private limited company (PLC);
  • Idirs, Associations, Clubs, Labor unions & Cooperative societies;
  • Financial institutions (Banks, micro-finance institutions, insurance companies, etc.)
  • Organizations legally incorporated in the form of partnership, share company, etc.
  • Federal and regional governments as well as city administrations;
  • Public schools & Institutions of higher learning, Religious organizations;
  • Joint ventures;
  • Any other legal entities that can produce a document or letter that validates their claims

Document Requirements


  • Valid and renewed ID card
  • A renewed trade license or renewed investment certificate
  • Tax Identification Number (TIN)


  • Valid and renewed ID card,
  • Renewed trade license or renewed investment certificate, Tax Identification Number (TIN)
  • Memorandum and Article of association attested, registered and sealed by the documents authentication and Registration office
  • A certificate of registration issued by the appropriate authority/for associations, clubs & cooperatives/