Wegagen receives various common and special types of deposits.
The following are types of deposit accounts.
If one wants to make the most out of his/her spare money, he/she could save it at Wegagen. Only Birr 25 is needed to open a savings account. By doing so:
- Competitive interest is earned monthly.
- the account is captured in the system for quick and efficient deposits and withdrawal at any branch of the Bank, with the help of Wide Area Network, and
- Account can be accessed through payment cards 24/7.
Fixed Time Deposits
Type of deposit which is repayable after a pre-determined period of time. An attractive interest rate would be paid based on tenure and the amount of money to be deposited.
Demand Deposit/ Checking Accounts
This is a kind of account where customers operate transactions using checks. Individuals, business firms, NGOs, international & governmental organizations and others can open checking accounts
Zero Balance Account (ZBA)
ZBA is a type of checking account withdrawn by checks through subsequent transfer of funds from simultaneously opened savings accounts.
Negotiable Order of Withdrawal Account (NOW)
It is a product introduced by Wegagen bank enabling customers to have a saving account operated by check with special interest rate.
Children’s Trust Account
It is a special type of account with attractive interest rate where parents or guardians deposit money for education, health or any other intended future benefit for their children from birth to the age of 18 years.