Current Account/Demand Deposits
Current accounts are meant to facilitate operational fund balances for individuals/institutions having relatively larger volume of transactions.
- Payments from current accounts are authorized by cheque.
- The bank is required to effect payment on demand without prior notice.
- The minimum initial deposit required to open a current/demand account for individual or individual trade operators is ETB 250.00 (Two Hundred Fifty Birr).
- Such account is liable to a charge by way of inactive fees for every six months if the balance is less than ETB 250.00 (Two Hundred Fifty Birr) for six months.
- Bears no interest rate.