BoA- lqqub Account

Description:  BoA – Iqqub Account is a saving account designed for an association of natural persons for temporarily or permanently, depending on the needs of the members. The account offers relatively higher interest rate than the ordinary savings account. The key benefits of the account are:
•The Bank may extend up to 2% discount on BoA’s Overdraft facility lending interest rate to eligible Iqqub organizers.
•Facilitating financial transaction of Iqqubs( Using payment and collection system to collect and administer Iqqub and charge free standing order)
•Providing Iqqub members’ ID and registration books as giveaway materials.

• Our monthly interest payment for savings accounts, maintained in birr or foreign currency, is based on the minimum deposit balance held throughout the month.

 Empowerment of Women starts here  

A present from us to women, come and open an Adey account with a higher interest rate. We offer discounts and ease of access to your accounts even when you are shopping in supermarkets.  

BoA understands the role women play in our lives. As such to simplify and facilitate your personal business, endeavors, and efforts, we have designated a special account for you. We offer you increased saving rates to show you our appreciation and valuation of your growth. Saving with Adey account will create empowerment and drive to succeed. 

Explore Product Benefits and Features 

• Adey saving account holders can get a discount on safe deposit box rent  
• ATM debit card shall be issued freely which would be linked to their Adey Saving Account 
• Discounted purchases at different goods and services providers that BoA has made an agreement with. 
• An increased daily ATM cash withdrawal limit of ETB 15,000 can be arranged 

• Women who maintained an outstanding balance of ETB 25,000 at the time of birth will receive gift certificate  
• Account can be operated by ATM cash withdrawal, mobile banking, internet banking and special debit card 
• Access to priority banking service for depositors with amount above 500 thousand and special identification card will be issued

• Our monthly interest payment for savings accounts, maintained in birr or foreign currency, is based on the minimum deposit balance held throughout the month.

 Your future is our priority  

With Afla endless possibilities awaits you.  

The youth population constitutes the majority in our country. BoA believes this account to be an initiation and will encourage the culture of saving within the youth. By saving with the Afla account, you can concentrate on building your own success from an early age and plant your future years ahead.  

Explore Product Benefits and Features 

• The relatively higher and attractive deposit interest rate on top of the minimum saving deposit rate. 
• The total cost of the debit card shall be covered by the Bank for students with student ID 

• Half the cost of a debit card shall be covered by the Bank for those without a student ID cards.  
• Minimal loan interest rate.  
• Purchase discounts at agreed retail shops for purchases with debit cards.  
• Access to priority banking service for depositors with the amount above ETB 500,000.  
• Account must be converted to a normal/ordinary savings account when the account holder reaches the age of 29. 

• It can be operated by cash withdrawal slip, debit card, mobile, and internet banking. 

• Our monthly interest payment for savings accounts, maintained in birr or foreign currency, is based on the minimum deposit balance held throughout the month.

 Nothing but the best for your children  

When you save through this account, you are instilling the habit of saving into the minds of your children. Your saving teaches them the importance of it and the earlier you do it, the better they learn. 

It is an account that can be opened for individuals whose age is below 18 by their parent(s) or legal guardian. 

Explore Product Benefits and Features 

• It is a saving account opened for individuals below the age of 18;
• The account shall be opened and operated by parents or legally appointed tutor; and
• At a time of reaching major, it shall be converted to Afla ordinary savings account and operated by the major.

• Our monthly interest payment for savings accounts, maintained in birr or foreign currency, is based on the minimum deposit balance held throughout the month.

     We share your vision 

Start covering your future tuition expenses, now. BoA allows you to start thinking about your education and future today.  

BoA believes education to be a fundamental tool in achieving success and considers it to be the way out of poverty. The education saving account attests to that belief. This account can be opened by individuals classified as teen-youth, whose age is between 14 and 18.   

Explore Product Benefits and Features 

• It is designed for saving money for higher education up to undergraduate programs 
• It provides a higher interest rate than an ordinary saving account 

• It grants scholarship funds for annual draw winning account holders who saved for at least one year and whose account balance reached birr 5,000.  
• Withdrawal from the Education Savings Account is allowed anytime. However, in order to be eligible for the scholarship or seed money award for a particular year, the customer shall deposit the minimum amount set by her/his preference for 12 months of the calendar year, and no withdrawal is allowed in this period. 

• Our monthly interest payment for savings accounts, maintained in birr or foreign currency, is based on the minimum deposit balance held throughout the month.

     Augment your future with BoA 

Saving allows you to achieve a secure future. Saving with BoA. BoA appreciates your effort to change and be the better version of yourself and it gives you the opportunity to make your efforts count by providing a savings account that starts with as little as ETB25.  

Explore Product Benefits and Features 

• It is an interest-bearing account which is compounded monthly;
• It can be opened individually, jointly, and by corporate entities;
• It can be opened with zero balance, however, the account should show at least amount Birr 25 within a month;
• It can be operated by cash withdrawal slip, debit card, mobile and internet banking; and
• A minimum amount of Birr 25 has to be maintained to qualify for interest calculation.

• Our monthly interest payment for savings accounts, maintained in birr or foreign currency, is based on the minimum deposit balance held throughout the month.

Special needs, special account 

This is an interest-bearing account operated by cheques, drawn up to a frequency of five withdrawals per month for eligibility of interest payment.  

Explore Product Benefits and Features 

• Special Savings Accounts shall, by and large, be governed by the opening and operating procedures outlined for Current Accounts with the exception of the following: 
• Special Savings Accounts are interest-bearing accounts operated by cheques, drawn up to a frequency of five withdrawals per month for eligibility of interest payment; 

Eligibility and Requirements  

• To open this account, customers are required to complete an application form; and 

• The initial minimum deposit for opening of Special Savings Accounts shall be ETB 500.00 (Five Hundred) while the minimum balance for interest accrual is ETB 100.00 (One Hundred Birr) 

• Our monthly interest payment for savings accounts, maintained in birr or foreign currency, is based on the minimum deposit balance held throughout the month.

As a motive for teenagers to start saving from an early age, teen youth saving account is for individuals between 14-17 who can generate their own income.  

Explore Product Benefits and Features 

• It can be opened with zero balance given that there is a reasonable source of fund that can bring the balance to the minimum amount of Birr 25 within a month 
• It provides a higher interest rate than an ordinary saving account and 
• It shall be converted to Afla saving account or ordinary savings account as per the preference of the account when the account holder reaches the age of 18.  

• Our monthly interest payment for savings accounts, maintained in birr or foreign currency, is based on the minimum deposit balance held throughout the month.

BoA offers you to be part of something bigger and better. It is your gateway to pursue not only your personal goals but also offer something of value to your society and community. With lucrative interest rates and a variety of benefits, this account is specially designed for our elder citizens 

It is an account that can be opened by individuals who attained the age of 50 years. Retired personnel of defense services or any other legal document of retirement would allow individuals to subscribe under the scheme irrespective of the age limits subject to the fulfillment of other specified conditions. For a joint account, the account holders should also be in the required age group and income category 

Explore Product Benefits and Features 

• Higher saving interest rate over the prevailing ordinary saving interest rate 
• Increased interest rate when account holders pass a pre-set threshold in their account balance of ETB 500,000. 
• It provides a discount on the BoA’s service charge (commission) of local money transfer if the amount is to be sent/deducted from Yebalewuletawoch accounts maintained in the Bank 
• Charges for ATM transaction fee and safe deposit box rent can be discounted by 15% of the actual price 

• Unique customer ID will be issued to allow priority treatment at the counter  
• Minor accounts to be linked with Yebalewuletawoch account and automatic standing instructions/orders would be set charge-free 
• The family card shall be issued freely upon request for the Yebalewuletawoch account holders 
• Arrangement of discounts at partners who can make agreements with the Bank to avail discounts for the Bank’s customers (like, Hospitals, Supermarkets, Shops, Manufacturing companies, and Educational institutions).     

• Our monthly interest payment for savings accounts, maintained in birr or foreign currency, is based on the minimum deposit balance held throughout the month.