This is a saving account that attaches a loan for pursuing higher education as well as settlement of cost sharing. Students who want to follow their postgraduate (Masters and PhD) are eligible for the loan.
Requirement
- The initial deposit shall be Birr 25
- Passport size Photographs
- Renewed ID card
- Application letter;
- Company letter attesting the person bio data.
- Other relevant documents as per the bank credit checklist
Product Features
- No passbook, but quarterly statement is issued.
- Interest is paid to the account holder
- ATM can be attached to the account, which is granted free of subscription fee.
- The account holder is allowed to borrow for financing its higher education and settlement of cost sharing after maintaining the required minimum amount of deposits and presenting the required documents. The account should stay at least for a year to qualify for a loan
- The person should have a regular income to open this account.