Saving Products
Ø Compulsory Saving
Compulsory saving is the minimum amount
of saving, which conditions borrowers` access to loans, and can be seen as a
collateral substitute imposing a positive inducement for repayment.
Ø Ordinary Voluntary Savings
This is a normal saving with attractive
interest rate for any clients.
Ø Special Growth Group Saving
This is a group based saving type that
all group members should save a predefined amount of saving time by time.
Ø Institutional Savings
Ø Institutional Savings Accounts are tailor-made
to suit the specific needs of institutions such as NGOs, clubs, associations,
educational institutes, hospitals, Idir, Iqub savings and other Trusts.
Ø Fixed Time deposit or Money Market Deposit
Fixed time deposit is a type of
deposit which is accepted for a certain fixed period of time with negotiable
interest rate. The rates of interest vary according to the duration of the
deposit received and calculated only for the duration of the certificate of
deposit.
Ø Youth Saving
Youth accounts are savings accounts and
checking accounts designed for children. They often require a much lower
deposit to open than an adult's account, they have great interest rates, and
also fewer fees.
Ø Women Saving
This is Special Savings Account
designed specifically to take care of and address the banking and savings needs
of the Women customers to play an essential part
of every women’s life, regardless of their financial position.
Ø Coin Box Saving
A money box is a small box with an
opening at the top, into which a child or petty traders puts coins as a way of
saving money.
Ø Asset Acquisition fund saving
This type of saving is designed to
acquire assets to allow the company to expand its product lines or offerings or
to purchase equipment etc.