Dashen Bank Products For Resource Mob

Dashen Bank products & their Features
1. Saving plus Account

Definition: Saving account that entitles customers a privilege for consumer loan while
earning a 7% interest on his/her deposit.
Features:
 Bears interest rats
 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
2. Interest plus Bonus Account

Definition: A saving account which pays additional 2% bonus on the annual interest earned on
top of the regular 7% interest.
Features:
 Bears interest Rate
 Minimum opening deposit is 25 Birr
 Minimum deposit amount to get bonus is 50,000.00 Birr
 Limitless deposit and withdrawal
 2% Bonus on the interest income earned
 Free, convenient and limitless intra-bank transfer of funds (only local
3. Hawala Saving Account
Definition: It is hard currency linked Saving Account maintained in Ethiopian Birr with access
to Diaspora Consumer loan packages.
Features:
 Earn 14% saving interest Rate
 Eligible for Diaspora Consumer loan package
4. Hybrid Account
Definition: A multi option deposit scheme (MODS) which is combination of demand & saving
deposits, catering for meeting customer’s financial needs in a flexible manner by combining the
features of both saving & current accounts.
Features:
 Limitless deposit and restricted withdrawal
 Initial & minimum deposit balance is 10,000.00
 Free, convenient intra-bank transfer of funds (only local)
 Operated by check & free up to six cheque withdrawals per month
 Free monthly account statement
 NO ATM/POS facility/Payment Card
 Interest earned at the end of each month on the minimum balance of the month.
 Interest payment mode is compounded every month on the minimum balance of the
month.
5. Student Account
Definition: A saving account catering to students who would like to advance their education at
higher learning institutions. The student shall be eligible to a student loan up on fulfilling the
requirements.
Features:
 Bears interest Rate
 Issuance of free quarterly statement
 No pass book
 Attaches student loan
 Free, convenient and limitless intra-bank transfer of funds (only local)
 Initial deposit 100.00 Birr
 Maximum loan amount is twice of 75% of the amount saved but not more than
100,000.00 Birr.
6. Current Account protection scheme

Definition: A transaction account scheme for high value business customers intended to avoid
bouncing of cheque payments as a result of insufficient balance by directing the payment to the
pre – arranged saving account.
Features:
 Overdraw of Cheque account Up to 25% of Saving account balance
 Overdraw per month Up to 3 times per month
 Initial Deposit ETB 5,000,000
 Minimum deposit amount ETB 5,000,000
 Minimum balance maintenance fee ETB 500 per month
 More than 3 overdraw from saving account, ETB 30 per transaction.
7. Special Youth Accounts
Definition: Saving account for children below 18 years of age opened & operated by their
parent or guardian.
Features
 Bears interest and pays bonus on the interest income

 Free, convenient and limitless intra-bank transfer of funds (only local)
 Help children learn to save and manage their money as they grow.
Amount
 Initial Deposit ETB 25
 Minimum deposit ETB 500
 Minimum 12 months for bonus entitlement
 5% bonus if no withdrawal made within 12 of a given fiscal year.
8. Diaspora demand deposit/Diaspora current account

Definition: A Foreign currency account for Ethiopian Diaspora, from which money may be
withdrawn without notice, typically an active account catering for frequent deposit &
withdrawals by cheque.
Features
 Safe
 Bears no interest rate
 Effect transfers abroad/make foreign payments, such as import and other foreign
service payments
 Convert into a Birr account at the prevailing exchange rate
 Limitless inter and intra-bank transfer of funds
 Serve as collateral or guarantee for loans or bids.
 Make local payments in Birr
 Free monthly account statement
 Initial Deposit USD 100
 Minimum deposit amount USD 100
 Maximum deposit amount USD 50,000
 Withdrawal Limit Not Restricted
9. Diaspora Non-Repatriable Saving Account

Definition: High interest earning saving account maintained in ETB in which Ethiopian
Diasporas open & credit with approved foreign currency from abroad. The deposit can only
debited in local currency & can’t be repatriated back to a foreign currency.
Features
 Safe
 Bears very high interest rate 14%
 Convert into ETB at the prevailing exchange rate
 Limitless intra-bank transfer of funds
 Serve as collateral or guarantee for loans or bids.
 Make local payments in Birr
 Minimum deposit amount USD 100
 Maximum deposit amount USD 3000 or more on single deposit needs FCY declaration
from ERCA
10. Diaspora Certificate of Deposit/Diaspora Fixed Time Deposit

Definition: High interest earning, time blocked, FCY denominated saving account for Ethiopian
Diasporas. The deposit is opened, operated & can be repatriated back in to a foreign country
after the maturity period by the customer.
Features
 Safe
 Bears interest rate
 Serve as collateral or guarantee for loans or bids
 Can be repatriated to abroad after maturity
 Initial Deposit ETB 5,000
 Minimum deposit amount ETB 5,000
 Maximum deposit amount No Limit
 Withdrawal Limit Not Allowed
11. Non Resident Transferable Birr Account

Definition: A non-interest bearing account opened & operated by cheque catering to expats
(Foreign nationals) employees of international organizations (UN,AU, etc), NGOs International
organizations, Embassies operating in Ethiopia.
Features
 The account is opened in an approved foreign currency
 kept/maintained in local currency
 Can be used for local and foreign transaction [transfer]
 Minimum deposit amount FCY , No Limit
 Maximum deposit amount FCY, No Limit
12. Non Resident Non-Transferable Birr Account

Definition: A Non-Residential Saving account opened & operated by expats (Immigrants) living
in Ethiopia in which the account is opened & credited in an approved foreign currency but is
kept /maintained in local currency and can be used for local transaction.
Features
 Funds cannot be transferred abroad in FCY without obtaining permit from NBE
 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].
 Initial deposit FCY
 Minimum deposit limit: FCY, No limit
 Maximum deposit limit: FCY, No limit
 Withdrawal limit: ETB, No limit
13. Foreign Exchange Retention Account

Definition: 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 the export business.
Features
 No check book is issued
 Credit of FCY received from exporters through SWIFT
 Easier access for import of goods without the need for waiting on queue
 Deposit of foreign cash notes upon presentation of valid custom declaration
 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
 Maximum deposit amount No Limit
 Withdrawal Limit No Limit
 Purpose To import goods related to the owners export business
14. Non-Resident Foreign Currency Account

Definition: It is a deposit account targeted for Ethiopians in Diaspora to open and use foreign
currency account at home country
Features
 Minimum deposit amount FCY, No Limit
 Maximum deposit amount FCY, No Limit
 Withdrawal limit: ETB, No Limit

Dashen Bank Products For Resource Mob

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Dashen Bank products & their Features

1. Saving plus Account

2. Interest plus Bonus Account

3. Hawala Saving Account

6. Current Account protection scheme

 Bears interest and pays bonus on the interest income

8. Diaspora demand deposit/Diaspora current account

9. Diaspora Non-Repatriable Saving Account

10. Diaspora Certificate of Deposit/Diaspora Fixed Time Deposit

11. Non Resident Transferable Birr Account

12. Non Resident Non-Transferable Birr Account

13. Foreign Exchange Retention Account

14. Non-Resident Foreign Currency Account

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