School Account- SME
It is an account targeting mainly private schools and colleges in which customers are entitled to customized services including collection of school fees, salary payment and credit facilities for working capital and expansion projects.
Features and Benefits
• The institutions shall maintain both saving and current account simultaneously; the latter being used for check payment
• A minimum balance of Birr 500,000.00 should be maintained at all times. Otherwise, the interest rate will be forfeited for that particular month.
• The Bank will facilitate collection of school fees and pays salary to employees through its branches and other delivery channels.
• The Bank provides finance for working capital and expansion projects of schools in accordance with its credit policy and procedure.
• The Bank may sponsor major events of the school as deemed necessary.
• The Bank provides consumer or personal loan to employees of the school as per its consumer loan procedure
All the requirements for account opening
and credit facilities stipulated in the Bank’s credit procedures shall apply