IFB Deposit

Interest Free Banking Deposit Products

Bank of Abyssinia is providing a Wadia deposit account service (Saving and current) under wadiah yad dhamanah concept. Wadiah yad dhamanah means safe keeping with guarantee. It refers to the transaction between the depositor (customer) and the custodian (bank) for the safekeeping of the good or money

Saving Deposit (Wadia Yad-Dhamana)

Wadiah refers to custody or safekeeping.  In a Wadiah arrangement, an account holder deposits funds or kept items (assets) in the Bank. 

Hajj Saving Account

Hajj is an annual religious pilgrimage made to holy city of Mecca, Saudi Arabia. It is mandatory for physically able Muslims to perform Hajj at least once in a lifetime

Fityah Saving Account

To encourage young aspiring individuals between 18 and 29, the Fityah account is created. It is an account that supports these young individuals who

Zahrah Saving Account

A deposit designed for women who are above the age of 18. It addresses women who want to acquire the financial and banking services of BoA

IFB FCY Deposit Account

The Bank, at its absolute discretion, can provide gift (monetary or in kind) to holders of such account as token of appreciation taking into account, among others,

Musinin Saving Account

This account serves customers who are 50 years old and above. It is a saving account that was launched with the main aim of providing senior citizens

Minor Deposit Account

Minimum initial deposit amount: ETB 25. The Bank, at its absolute discretion, can provide gift (monetary or in kind) to holders of such account as

IFB Current Account

Wadiha yad dhamanah means safekeeping with a guarantee. It refers to the transaction between the depositor (customer) and the custodian (bank) for the safekeeping of the goods or money.

 

More Services

  • Muday saving account
  • Money transfer
  • safe deposit box