Professional Documents
Culture Documents
2023-02-01 - 05-10-39........ Awash Bank Products
2023-02-01 - 05-10-39........ Awash Bank Products
Bank Products
Saturday, Se 3
ptember 30,
2023
TYPE OF ACCOUNTS
Saving account
Demand deposit account
Fixed time deposit account
Special Saving account
Earmarked account
Overdraft account
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interest rate.
No interest will accrue after expiry of the certificate unless 10
Incentive
interest rate is the prevailing saving interest rate plus 0.5% ( 7.5%)
Debit Card, Free of Charge Saturday, Se 12
ptember 30,
2023
Eligible for 50% lower price charge and fees on local money transfer.
Elders Account
etc
Definition & Features –
EARMARKED Account
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Saturday, September 30, 2023
Definition & Features – Special Deposit Accounts:
Smart Children’s Account
Gifts:
Deposit Gift of Birr 150.00 from birth to age ten. This shall be
Operation
The account shall be opened by the full name
of the child followed by the word “Tutor”
under quotation and finally full name of the
parent (s)/tutor (s).
Joint account opening procedures with a 19
and debit card shall not be allowed. Saturday, September 30, 2023
Definition & Features – Special Deposit Accounts:
Student Solution Account
Incentives:
ATM card issued free of subscription (card) fee.
A postgraduate educational loan facility of 200%
of the saved amount but limited to a maximum
of Birr 150,000.00 if he/she saves for at least
two years after graduation.
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Operation:
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Incentives
The current account portion shall pay no
interest
The savings account portion shall get a
prevailing interest rate plus a bonus of
0.25%.
To be eligible for this interest rate, the
minimum balance in the account shall be Birr 26
Operation
Under CPSS, savings/CPSS account of same customer shall be
linked to his/her/its current account to be used as a source
of fund for cheque payment.
After linking the two accounts, a flat charge of Birr 50 shall
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Operation
The account is operated through a passbook.
The customer shall save at least for a year to be
eligible for the minimum interest rate for this
account.
The bank will give the 60 % at maturity as a term
loan.
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Incentives
building, Automobile or any other fixed asset Saturday, September 30, 2023
Definition & Features – Special Deposit Accounts:
Provident Fund Solution Account
Operation
Passbook shall not be issued for individual employee.
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to the bank .
Manner of Operation
Min. Deposit to open the account is 25 birr
Muday box is required
The Customer has deposit balance equal to 50% of the recent
cost of the box .And block 50% of cost of recent box.
Awash Muday Bank & Toy Money Box
Service
Manner of Operation
50% of the recent cost of box is blocked on the
smart children account.
Deposit at least once in a month.
If the customer fails to deposit for 3
consecutives months – notify
Saturday, Se 36
Diaspora Account 37
denominated in Birr.
Saturday, September 30, 2023
Definition & Features –
Foreign Currency Accounts
The balance held in retention account “A” may be kept for an indefinite
period of time and shall be sold fully or partly at a freely negotiable
exchange rate at any time in the inter-bank foreign exchange market.
If not sold, the balance shall be automatically converted into local currency
the next working day.
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All Ethiopian nationals living and working abroad for more than one
located outside Ethiopian territory for more than one year may open
maintained at least for the minimum period. Saturday, September 30, 2023
Definition & Features –
Foreign Currency Accounts
2. Current account
current account.
Saturday, September 30, 2023
Definition & Features –
Ethiopian Commodity Exchange (ECX)
Member Pay-in:
Member pay-out:
Client pay-in:
an account maintained by members in behalf of their
client.
Similar
to member pay in account it serves as depository
account,
debit entries should be instructed by ECX.
Client pay-out:
An account maintained by members in behalf of their
client.
Like member pay out account.
The account ownership rests with the member account
holder. 53
Saturday,
54 September 30, 2023
Any Question ?
Saturday,
55 September 30, 2023