Monday, 18 September 2017 11:15

Deposit

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CBO provides several deposit products for natural and legal persons who can fulfill the banks and legal requirements.

Saving Account

It provides principal security and modest interest rate depending on the specific types of saving account. The minimum balance to open is birr 50.00

Demand Deposit Account

Current or checking account, none interest bearing. The minimum amount required to open is birr 500.00

Fixed Time Deposit Account

Deposit received for a certain fixed period of time with negotiable interest rate based on magnitude of the fund and time period. The minimum balance acceptable for fixed time deposit is birr 100,000.00.

CPO

Certified payment order, endorsable and valid for six months.

ECX Related Account

Ethiopian Commodity Exchange Account Opened to pay- in account for the member of ECX to facilities the trade of commodity at trading centers.

Foreign Currency Account

An account in which the source of fund is overseas and can be maintained in hard currency or in birr. The minimum amount required for an initial deposit to open current accounts shall be USD 100 or its equivalent in any of the eligible foreign currencies.

Special Saving Account

An interest bearing account operated by cheque. No pass book is required.

Read 165 times Last modified on Tuesday, 26 September 2017 07:34
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