Iqqub Saving yaye March 8, 2024
IQQUB SAVING

Keeping the Tradition going.

Iqqub is an Ethiopian tradition involving social-based saving and credit schemes, where members save equal amounts and distribute the sum to a lucky person through a lottery drawing. Iqqub Savings Account is a special savings or deposit account that targets Iqqub associations or members of Iqqub.
We see ourselves as the catalyst for growth, the source that empowers people, the driving engine to unlock their full potential and reach heights they never thought possible.

PEOUD OF OUR HERITAGE
Building upon our tradition and heritage for a bright future.

SIMPLY & CONVIENECE

Amazing features & Benefits
Our commitment to greatness extends beyond our offerings. We aim to foster an inclusive, supportive, and encouraging community.
​Competitive interest rates

The bank will grant Iqqub members' interest rate privileges of 7.25°/o.

Overdraft facility

Iqqub members with installments exceeding Birr 25,000.00 can use an overdraft facility after maintaining or paying their six-month contribution without default, securing the loan.

Optional Offerings

The bank could sponsor various events arranged by Big Status Iqqubs,

Additional Benefits

The bank shall offer additional interest rate privilege per annum if the Iqqub account balance is not less than Birr 100,000.00

Access your account with ease

You can have access to your account to transfer funds or obtain information anytime, day or night, every day of the year just by using our mobile app, online banking or card access.

How to Apply and Required documents

Download any of the forms below, fill and email a copy of the completed form to apply@abaybanksc.com

or Drop at any AbayBank branch closest to you.

Iqqub Association Accounts allow opening balances up to Birr 10,000, with minimum monthly requirement.

Iqqub Members Accounts offer overdraft facility for Iqqub installments exceeding Birr 25,000, provided members maintain six-month contribution without default.

​Minimum opening/account balance of 25,000ETB.

Kids Savings Accounts are fee-free and don’t require a minimum balance.

All Iqqubs made up by a group of natural persons can open Abay -Iqqub Special. The Iqqub requires an initial Memorandum and Article of Association, minutes from recent assemblies, a letter from the chairperson, and valid ID, TIN, and recent photo of the authorized person to operate the bank account.

Create multiple Kids Savings Accounts for each of your child’s financial goals.

Find the right financing for your business. apply@abaybanksc.com.com

Recommended for your

We place great importance on fostering the growth of our business, as well as our personal and professional development, recognizing these as critical elements in our pursuit of greatness.