1. 1. Saving Deposit Account

A saving account is an interest-bearing deposit, which can be opened with a minimum acceptable balance of Birr 25.00.

1. 2. Demand/ Current Account

A demand deposit account (current or chequing account) is a non-interest bear­ing account; the minimum amount of money required for individuals or in­dividual trade operators is Birr 250.00, while for PLCs & others Birr 500.00. The account is operated by cheque.

1. 3. Fixed - Time Deposit Account

It’s a deposit received for a certain pe­riod of time, it provides an attractive and higher interest rate. The minimum balance for a fixed-time deposit is Birr 25,000.00.

1. 4.  Special Saving Account (SSA) or Negotiable Order of Withdrawal (NOW) Account 

The minimum initial deposit for NOW account is Birr 1,000.00/ One Thousand Birr. An account having less than Birr 50,000.00/ Fifty Thousand Birr shall not bear any interest. To be eligible for interest, the frequency of withdrawals should be limited to 3/ three times per month. No passbook is required to operate SSA/ NOW account; instead a checkbook will be issued.

1. 5.  Provident Fund Account  

This account is opened for adminis­tration of provident funds accounts.

1. 6.  Zero Balance Account  

This account maintains a disburs­ing account at “ZERO” by transfer­ring funds from a saving account.

1. 7.  Foreign - Currency Accounts  

A foreign-currency account is an account in which the source of fund is overseas and can be maintained in hard currency or in Birr. Major types of foreign currency accounts,

• Non-Resident Non-transferable,
• Non-Resident Transferable,
• Non-Resident Transferable Foreign-Currency,
• Diaspora Accounts.