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 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 which will be calculated on their minimum daily balance and compounded monthly.
For Z-Club Saving Account holders, the bank assigns a Personal Banker to handle all your transactions and banking needs in private with entitled a specially designed debit cards with increased cash withdrawal daily limit.
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.
Is tiered into Z-Club Basic with 500,000.00 account opening, Gold with 2,000,000 and Platinum 5,000,000. However, each account can be opened with birr 5,000 (birr five thousand) initial deposit and build up to the required level.
Z-club Special Saving Accounts 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
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.
An account combining the features of both saving and current accounts operated by cheque.
The floor amount required to open Basic account is Birr 100,000.00, for Special Account Birr 300,000.00, Birr 500,000.00 for Gold Account and for Birr 1,000,000.00 Platinum Executive Account. However, each account can be opened with birr 10,000.00 (birr ten thousand) initial deposit and build up to the required level.
Other employees of the organization will be entitled up to 50% revolving salary advance facility at lower interest rate than the ordinary. All employees will have access to special consumer loan offers at attractive interest rates.
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 is Birr 1,000.00, for Special Account Birr 50,000.00 and for Exclusive Minor Account Birr 200,000. However, each account can be opened with birr 1,000 (birr one thousand) initial deposit and build up to the required level.
The floor amount required to open Basic account shall be greater than Birr 1,000.00, Birr 100,000.00 for Special Account and Birr 200,000 for Exclusive Youth Account. 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.
These loans are intended for personal needs such as purchasing an automobile, acquiring or constructing a residential house, buying consumer goods, or meeting other undefined personal expenses including education and medical costs.
Common types of consumer loans include:
Mortgage/Housing Loans – for the purchase or construction of residential property
Home Equity Loans
Automobile/Vehicle Loans
Personal Loans
Loans extended to the Diaspora community and staff loans provided to corporate employees (typically SLA loans) are also classified as consumer loans.
