Diaspora Non-Repatriable Saving Account
High interest earning saving account maintained in ETB in which Ethiopian diasporas open and credit with approved foreign currency from abroad. The deposit can only debited in local currency and can’t be converted back to a foreign currency.
Product Features
- Safe
- Bears very high interest rate [14%]
- Converted into ETB at the prevailing exchange rate
- Operated through passbook
- Limitless intra-bank transfer of funds
- Serve as collateral or guarantee for loans or bids
- Crediting from local source is prohibited
- Make local payments in Birr
- Initial Deposit : USD 100
- Minimum deposit amount : USD 100
- Maximum deposit amount : No Restriction
- Withdrawal Limit : No Limit
- Can be withdrawn through cash, account to account transfer, Debit Card internet and mobile banking, standing instruction with no withdrawal limit
Eligibility Requirements
- Valid and renewed Ethiopian origin ID, passport or ID where nationality is explicitly defined
- Valid resident and/or work permit that certify the Ethiopian National living and working abroad for more than one year
- Tin registration certificate, Renewed trade license and commercial registration certificate (For MSME)
- Two recent photographs (3×4)
