Select Page

Non Resident Transferable Birr account [NRT]

A non-interest bearing account opened and operated by cheque catering to expats (foreign nationals/employees of international organizations [UN, AU, etc.]), NGOs, International organizations, Embassies operating in Ethiopia.

Product Features
  • The account is opened in an approved foreign currency
  • No interest rate
  • Kept/maintained in local currency
  • Can be operated by check
  • Deposits from local source is prohibited
  • Can be used for local and foreign transaction [transfer]
  • No exchange commission is levied upon transfer to abroad
  • Can be used for travel allowances upon presenting valid travel documents
  • Initial Deposit : USD 100
  • Minimum deposit amount : FCY, No Limit
  • Maximum deposit amount : FCY, No Limit
  • Withdrawal Limit : FCY/ETB-No Limit
  • Withdrawal can be done through cash, cheque, Debit Card, internet and mobile Banking
Eligibility Requirements
  • Present valid and renewed Resident/Diplomatic ID, Passport and one recent photograph (3×4)
  • A letter of application which is signed by the ambassador or her/his delegate
  • A letter from the employer, which confirms that her or his salary is paid in a foreign currency
  • Tin registration certificate, Renewed trade license and commercial registration certificate (For MSME)

Non Resident Non-Transferable Birr account (NRNT)

A Non-Resident Saving account opened and operated by expats (immigrants) living in Ethiopia in which the account is opened and credited in an approved foreign currency but is kept/maintained in local currency and can only be used for local transaction.

Product Features
  • Funds cannot be transferred abroad in FCY without obtaining permit from NBE
  • Account can credited from foreign sources through the banking system
  • The account is opened and credited in an approved foreign currency
  • The account is kept/maintained in local currency and can be used for local and foreign transaction [and transfer].
  • Can be operated by check
  • Deposits from local source is prohibited
  • No interest rate
  • Initial Deposit : FCY
  • Minimum deposit amount : FCY, No Limit
  • Maximum deposit amount : FCY, No Limit
  • Withdrawal Limit : ETB-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  • Can be withdrawn through cash, account to account transfer, Debit Card internet and mobile banking, standing instruction with no withdrawal limit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
  • Present valid and renewed Resident/Diplomatic ID, Passport and two recent photographs (3×4)
  • A letter of application which is signed by the ambassador or her/his delegate
  • A letter from the employer, which confirms that her or his salary is paid in a foreign currency

Non Resident Foreign Currency Account (NRFCY)

It is a non interest bearing account opened and operated by check catering to expats (foreign nationals, employees of international organizations [UN, AU, etc.], NGOs, International organizations, Embassies/its employees living/operating in Ethiopia.

Product Features
  • Non-interest bearing unless authorized by NBE
  • It can be operated by check or pre-arranged agreement with the client
  • Deposits from local source is prohibited
  • No exchange commission is levied upon transfer to abroad.
  • Can be used for travel allowances upon presenting valid travel documents
  • Can be transferred to other eligible foreign currency account(s) in FCY
  • Initial Deposit : USD 100
  • Minimum deposit amount : FCY, No Limit
  • Maximum deposit amount : FCY, No Limit
  • Withdrawal Limit : ETB-No Limit
  • Withdrawal can be made through cash and over the counter upon the presentation of travel document
Eligibility Requirements
  • Present valid and renewed Resident/Diplomatic ID, Passport
  • A letter of application which is signed by the ambassador or her/his delegate
  • 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

Foreign Exchange Retention Account A and B

Non-interest bearing foreign currency current account which is maintained to credit the proceeds of export made through the Bank to enable the customer use the hard currency for import of goods related to the export business.

Product Features
  • No check book is issued
  • Credit of FCY received from exporters through SWIFT
  • Regular remittance recipients can also open the account
  • Crediting from local source is prohibited
  • Easier access for import of goods without the need for waiting on queue
  • No exchange commission is levied upon foreign transfer.
  • Deposit of foreign cash notes
  • It is not interest bearing account
  • Upon presentation of valid custom declaration
  • Hotels and other establishments upon presentation of renewed License issued by NBE
  • Deposit amount (ACT “A”) : FCY 30% of the export proceed indefinitely
  • Deposit amount (ACT “B”) : FCY 70% of the export proceed up to 28 days
  • Initial deposit : FCY, No Limit
  • Maximum deposit amount : No Limit
  • Withdrawal Limit : No Limit
  • To import goods/effect service payment related to the business
Eligibility Requirements
  • Present letter of application to open and operate the account and one recent photograph (3×4)
  • Tin registration certificate, Renewed trade license and commercial registration certificate (For Exporters)

Interest Plus Bonus Account

It is a saving account which pays additional 2% bonus on the annual interest earned on top of the regular 7% interest

Product Features
  • Bears interest Rate
  • Minimum opening deposit
  • Limitless deposit and withdrawal
  • 2% Bonus on the interest income earned compounded monthly on the minimum balance of the month
  • ATM, POS, Payment Card, Internet and Mobile Banking Facility
  • Free, convenient and limitless intra-bank transfer of funds (only local)
  • Initial deposit is ETB 25 with a minimum deposit amount 500,000 ETB and with no maximum deposit limit
  • Can be withdrawn with cash, Account to Account transfer, Debit Card, Mobile and Internet banking and standing instruction
Eligibility Requirements

For Retail

  • Present valid and renewed ID card and two recent photographs (3×4)
    Initial Deposit

For Artificial Persons [Partnership, Assn., PLCs, Share Companies, etc.]

  • Renewed trade license, commercial registration and certificate of the company
  • Initial Deposit
  • Tin registration certificate
  • Authenticated Memorandum and Article of association
  • The minutes of the meeting of the board of directors held to discuss the opening and operation of the account
  • A letter of request to open and operate the account
  • A valid and renewed ID card of the authorized person

Saving Plus Account

Saving account that entitles customers a privilege for consumer loan while earning 7% interest

Product Features
  • Bears interest Rate
  • Consumer loan in excess of deposit amount by 40%
  • The minimum deposit amount to get consumer loan shall be above ETB 50,000
  • The account should be maintained at least for a year to be eligible for the loan
  • ATM, POS, Payment Card, Internet and Mobile Banking Facility
  • Free, convenient and limitless intra-bank transfer of funds (only local)
  • 1000 ETB is set for initial deposit
  • There is no minimum and maximum limit
  • No withdrawal limit
  • Can be withdrawn with cash, account to account transfer, Debit Card, internet and mobile banking and standing instruction
Eligibility Requirements
  • Present valid and renewed ID card and two recent photographs (3×4)
  • Initial Deposit
  • As per the Bank’s credit policy for consumer loan

Hybrid Account

A Multi Option Deposit Scheme (MODS) which is combination of demand and saving deposits, catering for meeting customer’s financial needs in a flexible manner by combining the features of both saving and current accounts.

Product Features
  • Limitless deposit and restricted withdrawal
  • Free, convenient intra-bank transfer of funds (only local)
  • Operated by check & free up to six cheque withdrawals per month
  • Bears interest Rate compounded every month at the minimum balance of the month
  • ETB 25 is deducted when the balance in the account is less than ETB 10,000
  • ETB 20 shall be deducted when check withdrawal exceeds 6 per month
  • Free monthly account statement
  • NO ATM/POS facility/Payment Card
  • Initial deposit it set to be 10,000 with minimum deposit amount of 10,000 and no maximum deposit amount
  • Can be withdrawn with cash, cheque, account to account transfer, internet and mobile banking
Eligibility Requirements
  • Cash/Cheque/Account to Account Transfer (Over The Counter)
  • Internet/Mobile Banking [for MSME, the authorized person should clearly state the delegated person to have access and indicate whether it is informational or
    transactional]

Student Account

A saving account opened and operated by prospective or current account holder applying seeking to pursue his education by depositing his/her required contribution towards his/her tuition fee.

Product Features
  • Bears interest Rate of 7% annually paid on the excess deposit above his/her current contribution to the student loan
  • Issuance of free quarterly statement
  • No pass book
  • Attaches student loan
  • The deposit should be maintained at least for a year
  • ATM, POS, Payment Card, Internet and Mobile Banking Facility
  • Free, convenient and limitless intra-bank transfer of funds (only local)
  • Initial deposit is set to be 100ETB
  • Can be withdrawn with cash, account to account transfer, internet and mobile banking, standing instruction
Eligibility Requirements
  • Present valid and renewed ID card and two recent photographs (3×4)
  • Initial Deposit

Special Youth Account

Savings account for children below 18 years of age, opened and operated by their parent or guardian.

Product Features
  • Bears 7.5% interest and pays bonus on the interest income
  • 5% of the interest income as bonus if account balance is >=500 and no withdrawal is made within 12 months of a given fiscal year
  • Free, convenient and limitless intra-bank transfer of funds (only local)
  • Help children learn to save and manage their money as they grow.
  • Initial deposit is set to be 25ETB with no minimum and maximum deposit amount and no withdrawal limit
  • Can be withdrawn through cash, account to account transfer, Debit Card internet and mobile banking, standing instruction
Eligibility Requirements
  • Birth Certificate issued by government authority, church or hospital
  • Valid and renewed ID card, passport, Driving License, Other government issue ID card of the guardian/parent
  • Two recent photographs (3×4) of both the minor and the guardian

Women Saving Account

It is an account that earns a progressive interest rate as high as 8% depending on the deposit balance; the higher the balance, the higher the interest rate would be.

Product Features
  • Can be opened and operated by a single individual or jointly;
  • Can be linked to mobile [Amole] and card banking facilities;
  • Can be operated with or without passbook;
  • Requires minimum initial deposit of Birr 50.00
  • Free, convenient and limitless intra-bank transfer of funds (only local)
  • Pay progressive interest rate starting from 7.5% and as high as 8%: the higher the deposit balance, the higher the interest rate
  • Offer uniquely designed and branded debit card [e.g. YEShi-CAN] with various offers
  • Free of charge account statement report upon request,
  • Account holders can open Modified Youth Saving for their children with zero balance
  • Free of charge standing instruction to their children’s Modified Youth Saving account
  • Initial Deposit of ETB 50 is required with no minimum and maximum deposit and withdrawal limit
  • Can be withdrawn through cash, account to account transfer, Debit Card internet and mobile banking, standing instruction
  • Interest rate varies based on the amount of deposit
Eligibility Requirements
  • Should be Women of legal age [i.e., greater than or equal to 18 years]
  • Valid identification card and recent photograph
  • Initial deposit amount

Premium Savings Account

Saving account that entitles customers a privilege for higher than normal saving interest rate with additional banking service entitlements.

Product Features
  • Operated with or without passbook
  • No restrictions on withdrawal or deposit
  • Can be opened and operated individually or jointly
  • Opened with a minimum initial deposit of Birr 1,000
  • Pays a progressive interest rate [ranging from 7.25% to 8.0%] which rises with the amount of account balance
  • ATM, POS, Payment Card, Internet and Mobile Banking Facility
  • Free, convenient and limitless intra-bank transfer of funds (only local)
  • Can be withdrawn through cash, account to account transfer, Debit Card internet and mobile banking, standing instruction

 

DB StarDB PrimeDB Prime Plus
7.25% annual interest rate7.5% annual interest rate8% annual interest rate
Priority in foreign currency provision for travel abroadPriority in foreign currency provision for travel abroadPriority in foreign currency provision for travel abroad
Amex Gold cardDashen Branded Gold Debit cardDashen Branded Platinum Debit card
Gift CardGift CardPremium Customer ID (Priority queuing in banking services)
Overdraft PrivilegePrivilege for CheckbookDedicated Relationship Manager
  Privilege for Checkbook
Eligibility Requirements
  • Customers should fulfill the usual due diligence requirement for account opening
  • Only accounts above a balance of Birr 100,000.00 shall be entitled for progressive interest; below which regular interest [7%] shall be paid
Facebook
Twitter
YouTube
LinkedIn
Instagram
Telegram