Local Deposit

Tsehay Diamond Saving Account is a high-yield savings product designed to encourage long-term saving habits while offering attractive returns. This product is ideal for individuals planning for future financial growth and those interested in building wealth over time.

Key Features
The following are key features of the Diamond Saving Account:
➧ Accounts can be opened individually or jointly.
➧ The minimum initial deposit is Br. 500 for individuals and Br. 1,500 for organizations respectively.
➧ Interest is calculated based on the minimum balance maintained during a given month.

Eligibility
The eligibility criteria for the Diamond Saving Account are as follows:
➧ Open to all natural and legal persons recognized by Ethiopian law.
➧ Minors can open an account with the assistance of their parents or guardians.

Interest Rate
The interest rates for the Diamond Saving Account ranges from 9.5% to 10%.

 Mortgage Financing for Commitment Savings and Foreign Currency (FCY) Resource Owners Accounts Features

➧ The loan shall be extended in the form of term loan to individuals for the purchase of residential house either finished or under construction phase;

➧ In the case of commitment savings, the following shall be fulfilled;

a) The customer shall inject 40% equity contribution from own source. To this end, he/she shall consistently deposit a specified amount to reach up to 40% of the cost of the house to be purchased.

b) If the customer is FCY resource owner, he/she shall deposit the FCY channeled through the Bank of an amount at least 20% of the cost of the house. In this regard, subsequent loan repayments can be made either in FCY or Local Currency (LCY). In this case, the lending interest rates shall correspondingly vary as stipulated in the relevant term and tariff book of the Bank.

c) The deposit shall be made in installments; with at least 1/4th of the 40% or 20% amount deposited in each quarter. However, the customer can deposit the estimated amount in a lump sum earlier than the stated periods.

d) To be eligible for the loan, the account holder is required to save for, at least six, (6) months. However, if the customer deposits the required equity contribution in a lump sum at the outset, the Bank will allow a reduced saving period of three (3) months.

e) If the customer anticipates that the cost of the house will increase due to inflation, he/she can save more than the stipulated 40% (for LCY) or 20% (FCY) amount. 

➧ Automobile Financing for Commitment Savings and FCY Resource Owners Features

1) The loan shall be used for the purpose of purchasing automobiles.

2) The Bank will finance the purchase of automobiles with service years up to five or lesser years after manufacturing year.

3) In the case of commitment savings, the following shall be fulfilled.

a) The customer shall make 40% equity contribution. To this end, he/she shall consistently deposit to reach up to 40% of the cost of the automobile to be purchased.

b) If the customer is FCY resource owner, he/she shall deposit the FCY channeled through the Bank of an amount at least 20% of the cost of the automobile (motor vehicle). In this regard, subsequent loan repayments can be made either using FCY or LCY. The lending interest rates will correspondingly vary as stipulated in the relevant term and tariff book of the Bank.

c) The deposit shall be made in installments with, at least, 1/4th of the 40% (if it is in LCY) or 20% (if it is in FCY) of the total automobile cost amount deposited in each quarter. However, the customer can deposit the estimated amount in a lump sum at an early stage.

d) To be eligible for the loan, the account holder is expected to deposit, at least, for six (6) months. However, if the customer is willing to deposit the required equity contribution in lump sum at the outset, the Bank provides the loan within three (3) months.

e) If the customer anticipates that the cost of the automobile increases due to inflation, he/she can save more than the stipulated 40% or 20% amount for LCY and FCY deposits, respectively.

Commitment Saving Features for Financing Consumer Durables

➧ Save gradually toward your planned purchase;

➧ Build your own contribution through regular or lump-sum deposits;

➧ Access term financing for eligible household and consumer durables; 

➧ Flexible savings options for both local and foreign currency earners;

➧ Opportunity for faster financing when the required contribution is deposited upfront; and

➧ Save beyond your target to prepare for potential changes in product prices. 

Ordinary Saving Account is a deposit type that bears interest and can be maintained by individuals or legal persons.

Features
➧ Interest is calculated monthly.
➧ It can be opened jointly or individually.
➧ It can be opened with zero balance. But it must have a 25 Birr deposit at the end of the month.
➧ It can be accessed via cash withdrawal slip, debit card, mobile and internet banking.
➧ To calculate an interest at least 25 Birr must be maintained.

Eligibility for Ordinary Saving Account
➧ All natural and legal persons recognized by Ethiopian laws
➧ Minors through their parents or guardians
➧ Interdicted persons through their legal guardians.

Features of Kibirt Women’s Saving Account

➧ The minimum account opening balance is Birr 100;

➧ The account will earn an interest rate of 8.5% if the deposit balance exceeds Birr 100,000; however, the Bank will pay an interest rate of 7% for deposit balances below Birr 100,000;

➧ The Bank may offer maternity and micro-business loans to women customers;

➧ Flexible support for women-owned and start-up businesses;

➧ Convenient savings solutions for your children’s future; and

➧ Waived standing instruction fees for eligible junior accounts.

The Youth (Gubil) Savings Account is designed to empower young people with rewarding savings benefits and financial support for their personal and business goals.

Features of Gubil Youth Saving Account

➧ Open an account individually or jointly;

➧ Earn attractive interest on your savings;

➧ Access financing to start or expand a micro-business;

➧ Benefit from loan opportunities based on your savings and banking relationship; and

➧ Get opportunities to receive education scholarships through promotional draws based on your savings performance.

Who is Eligible?

➧ The account is designed for individuals under the age of 18, regardless of whether they have their own income. This account is opened by the minors’ parents or guardians.

Features of Junior /Minor Savings Account

➧ The initial deposit for this account is Birr 100.

➧ The account offers an interest rate of 7.75% per annum;

➧ Tsehay Bank will provide a saving kit for customers to use at home;

➧ Based on the deposit performance, the Bank may give birthday gifts to minors with lottery-based systems; and

➧ When the customer reaches 18 years old, the account will change to another type of saving product.

Who is Eligible? 

➧ Any individual whose age is 50 years and above; 

Features of Tila Elders Saving Account

➧ The minimum initial deposit is Birr 100.00. If the deposit balance falls below this minimum, the Bank will not pay any interest;

➧  If the account is opened jointly, at least one account holder must be aged 50 or have retirement documentation;  

➧  The account holder will earn an 8% annual interest rate for balances equal to or exceeding Birr 50,000. For balances below Birr 50,000, the interest rate will be 7%;

➧ Customers will benefit from discounts offered by the Bank’s partners, including services related to spiritual and vacation travel, health, and more; and

➧ The Bank may provide FCY to customers for health treatment abroad, based on their deposit amount, as determined by the Bank’s senior management.

Champions’ Savings Account

The Champions’ Savings Account is a special savings product designed for football fans, traders, organizations, and other supporters who want to save while contributing to the development of their favorite football club.

Key Features and Benefits

➧ Designed for individual football fans, traders, partnerships, and organizations.

➧ Customers can choose and support their preferred football club when opening the account.

➧ A portion of the customer’s qualifying deposit and/or earnings is contributed to the selected football club, in accordance with the applicable product terms.

➧ The account provides interest-earning features for conventional savings and profit-sharing features for the Shariah-compliant Fajr Champions’ Savings Account.

➧ Available through passbook and digital banking channels, as applicable.

➧ Customers can access Tsehay Bank Debit ATM Card services.

➧ There is no product-specific withdrawal limit, subject to applicable NBE directives and the Bank’s account operation requirements.

➧ The Bank may provide lottery-based incentives and promotional benefits to eligible depositors.

➧ Accounts may be opened individually or jointly.

➧ Minors may open an account under the administration of their parent or legal guardian until they reach the age of 18.

➧ Interdicted persons may open an account through their legally authorized guardians.

➧ Football clubs, football federations, Ethiopian League Company, and athletics federations may establish qualifying pool and salary accounts with the Bank.

Fajr Champions’ Savings Account

The Fajr Champions’ Savings Account provides a Shariah-compliant alternative for customers who wish to save while supporting their preferred football club.

Depending on the applicable account structure, the product may be offered under Mudarabah or Wadiah arrangements. Under Mudarabah, customers participate in the applicable profit-sharing arrangement, with a portion allocated to support the selected football club. Under Wadiah, no profit-sharing benefit is provided; however, the Bank may provide Hiba (gift) to the club in accordance with the applicable terms.

Champions’ Foreign Currency Savings Account

The Champions’ Foreign Currency Savings Account is available to eligible:

➧ Residents of Ethiopia

➧ Non-residents of Ethiopia

➧ Non-residents of Ethiopian origin

Eligibility and Requirements

The Champions’ Savings Account is available to eligible football fans, individual traders, partnerships, organizations, and other qualifying customers, subject to the Bank’s applicable KYC, account-opening, and banking operation requirements.

For the applicable interest/profit-sharing rates, minimum balances, fees, charges, and other tariff information, please refer to the Tsehay Bank Tariffs page.

The Education Savings Account is designed to help students achieve their academic goals through savings benefits, educational support, and tailored financial solutions.

Features of the Account
➧ Earn attractive interest on your savings;
➧ Enjoy exclusive discounts on textbooks and educational materials through partner bookstores;
➧ Access scholarship and cost-sharing opportunities based on your savings;
➧ Get support for essential educational tools, including laptops;
➧ Benefit from tailored education loans and credit facilities; and
➧ Access financial solutions designed for undergraduate, postgraduate, and PhD students.