This product is a type of savings account intended for older Ethiopian citizens. Accounts can be opened by those who retired from positions in the public or private sectors after turning 60, as well as by individuals who left the military before they were old enough to retire.
Account Features and Benefits
- An account that can be opened after attaining the age of 60 or upon departing the military before retirement eligibility.
- This account requires a minimum deposit of Birr 50 to be opened.
- It can be accessed digitally via Internet banking (Hibir Online), mobile banking (Hibir Mobile), and ATMs (Hibir Card).
- Elders with Senior Citizen Savings Accounts will be assisted by branch personnel who will give these customers priority and particular attention.
- The account holder(s) obtains more than the conventional or minimum saving deposit interest rate.
- Accounts must be opened with a passbook.
Eligibility Criterion
- Age requirement: To open a senior citizen saving account, individual typically need to be of retirement age, which is usually 60 years old or
- Proof of retirement: Retired individuals may need to provide proof of the retirement status.
- An account must have a minimum balance of 50 Birr to be opened.
- The vital documentation needed to open a savings account must be completed in accordance with the bank's retail banking operation procedures.
