Zemen Bank deposit products are classified basically in to Consumers and Business Banking Products which consists of Saving, Checking, Time Deposit Accounts and Foreign Currency-FCY Accounts.
Almost all of the deposit products gives the privilege to keep the money under saving account and effect payments from its package checking account, which would be opened without additional deposit requirement
Consumer deposit products include both saving and checking accounts opened and operated by individuals mainly for saving purpose and to facilitate transactions of non-business activities.
Customers can open this account with 5000 ETB and earn interest of at least 7% on their daily minimum balance and compounded Monthly.
Customers can open this account with 5000 ETB and earn interest of at least 7% on their daily minimum balance and compounded Monthly.
Customers who maintain a minimum monthly balance of Birr 100,000 are eligible to open Prestige Saving Account, with a account opening balance of 5,000 ETB and earn interest rate of 7.25% which will be calculated on their minimum daily balance and compounded monthly.
Customers who maintain a minimum monthly balance of Birr 500,000 are eligible to open Z club consumer Saving Account, of 5,000 ETB and earn interest rate of 7.5% which will be calculated on their minimum daily balance and compounded monthly.
is a non-interest bearing account established as a package account with Personal Saving Account, without additional deposit requirements.
is a non-interest bearing account established as a package account with Prestige Saving Account, without additional deposit. The account holder has the privilege to keep the money under the saving account earning interest on daily basis while effecting payment from the checking account.
is a non-interest bearing account established as a package account with Z-Club Saving Account, without additional deposit. The account holder has the privilege to keep the money under the saving account earning interest on daily basis while effecting payment from the checking account.
Special Z-Club customers are entitled to enjoy several Preferential and priority service privileges in every Branch using their special ID and are privileged for specially designed debit cards with increased cash withdrawal daily limit.
Account designed for executives or senior managers of different private, government and Non-Governmental organization. Unique customer ID will be issued to allow priority treatment at the counter. Specially branded ATM debit card with higher daily cash withdrawal limit of up to Birr 20,000.00 for ATM transactions depending on the account type.
The account is tiered into Z-Club Children Basic; Special and Exclusive Minor accounts to encourage the account holders to build their deposit to higher category and earn more attractive interest rate.
The floor amount required to open Basic account shall be greater than Birr 1,000.00, for Special Account Birr 100,000.00 and for Exclusive Youth Account Birr 200,000. However, Special and Exclusive Youth accounts can be opened with birr 1,000 (birr one thousand) initial deposit and build up to the required level.
Zemen offers CDs for many terms, some with a minimum investment of ETB 1,000,000.
CDs typically pay higher interest rates than many other savings products.
The uniqueness of Zemen’s CD is we pay Upfront Interest immediately.
At Zemen, Interest can be credited to the CD or to a Zemen checking or savings accounts.
At Zemen, Interest can be credited to the CD or to a Zemen checking or savings accounts.
Eligible customers can choose to setup the accounts in USD, GBP or Euros. While an initial cash deposit of $/€/₤ 100 is required, additional funds can be deposited in foreign currency if it has been declared by customs, if funds are returned from travel expense or cheque drawn from non-resident foreign currency and transferable accounts or other FCY Accounts.
Some of the bank FCY account gives Prestige for the account holders to earn attractive interest rate on the deposit balance. For a better interest rate, the account holder can deposit money under time deposit, a minimum of USD 5000 or its equivalent in other FCY for at least three months’ period.
FDI Companies, International Organizations, Embassies, and Foreign NGOs are eligible to open this accounts with USD, EUR, GBP or other acceptable tradeable foreign currency by NBE.
Resident of Ethiopian National, Resident of Foreign National who have temporary or permanent residence permit, and Not For profit Organizations are eligible to open this account.
Non-Resident Foreign Nationals of Ethiopian Origin, Non-Resident of Ethiopian Nationals who have already been living and working abroad for more than one year, Ethiopian nationals in due process of leaving abroad for work for more than one year and who can produced authenticated documents to this effect and business entities owned by non-resident Ethiopian and located outside the Ethiopian territory for more than one year are eligible to open this account.
Exporter of goods and services and merchants and/or entities licensed by the NBE to collect cash notes and credit card/debit card/prepaid card/payments for goods and services they sell; are eligible to open this account to retain their FCY proceed.
