Non-interest-bearing accounts where the bank safeguards the customer's funds and may offer a discretionary gift (Hibah).
Types of Accounts Offered
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Regular Wadiah Saving Account
In a Wadi’ah saving, an account holder deposits funds in a bank and the bank guarantees the safety and refund of the entire amount of the deposit, or any part of the outstanding amount, when the depositor demands it.
Wadiah Almerah (Women) Saving Account
It is a special wadiah saving account intended for women so as to enhance their saving habits and economic benefits. This account does not share any profit for loss, rather Individual account holders might get discounts on certain service charges.
Wadiah Atea’lim (Education) saving account
This account is meant for students of higher education (college and universities) as well as post-graduate education. It is a saving account that attaches saving for pursuing higher education as well as settlement of cost-sharing.
Wadiah Zakat Saving Account
This account is opened by zakat receivers. Also, the account can be credited by zakat providers by themselves or any standing instruction given by the zakat providers
Wadiah childrens saving account
This wadiah saving account is opened for children under 18 years old, operated by their parents or guardians in order to accomplish financial security for their kids. This account can be operated by the child when he/she reaches the age of 18.
Wadiah Entrepreneurs saving account
This wadiah saving account is opened to encourage entrepreneurs to save for initial capital or ongoing working capital.
Eligibility to Open Savings Account
Eligibility parameters for saving account.
1
Nationality
Ethiopian
2
Age
18 Years old or above
Savings A/c Required Documents
Basic documents required for opening a savings account.