It is a type of deposit used as collateral for loans granted for residential house construction or purchase. Any Physical or legal person who is willing to open and use this account
- The initial deposit shall be Birr 25.
- Two passport sized photographs
- Valid identification card.
- Application letter;
- Company letter attesting the person bio data.
- Other relevant documents as per the bank credit checklist.
- It is a saving account operated by passbook
- It is an interest bearing deposit
- The account attaches housing purchase that needs to be maintained at least for two years and
- The Bank avails house purchase/ construction after the account holder reaches 40% of the total cost of the house to be purchased.
- The person should have a regular income to open this account.