Saving accounts is an interest bearing or non interest bearing deposit that LIB renders for physical and legal persons(Individuals, Organizations and Associations) who can fulfill the Bank’s requirement and are legal.
The minimum balance to open saving accounts should be Birr 25.00 However; saving accounts may be opened and maintained with zero balance for one month.
Within one month, the account holder should credit at least a minimum of Birr 25.00 in his/her account. However, if the account is not credited in the specified period, it should be closed following the normal account closing procedure.
Saving accounts can be opened and/or operated by a legal agent in the name of principal, against producing a power of attorney, which shall be attested by the branch itself if the power of attorney.
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