Special saving Account stands for saving accounts operated with cheque.
Any one is eligible to open a special saving account i.e. trade license is not necessary requirement to open the account (document requirement is similar to saving account) provided that the branch manager is convinced of the customers integrity.
The account can be opened by companies, individual partnerships, sole proprietors, clubs, etc... Check books are issued to make payments.
Special saving account should be opened with an initial amount of Birr 10,000.00. However; Special Saving accounts may be opened and maintained with zero balance for one month.
If the balance falls below Birr 10,000.00 which is the minimum amount to open and maintain the special saving account and also if withdrawals are made more than four times per month, the account will be treated like the normal current account forfeiting interest benefit in its entirety for the particular month.