Banking Solutions
Youth Saving Account
Youth Saving Account
Youth account is an account designed exclusively for the youth of today, to make their tomorrow better by properly managing their attitude, lifestyle, preferences and behavior. It is an account for male and female youth segment in the age group of 15-29 years. Youth Saving Account has no minimum deposit requirements to open account. It is accompanied by debit card, and it has no transaction fee & free account maintenance. Better interest rate than the normal saving rate has been applied on this account.
Additional Features
- It is an account for male and female youth in the age group 15-29 years.
- Zero minimum deposit requirements.
- It is accompanied by debit card.
- It has no transaction fee and free account maintenance.
Benefits
- It improves the saving culture/habits of self-employed teen-youth,
- It gives financial independence for the youth,
- It builds up future planning,
- It bears a higher interest rate compared to an ordinary savings account.
Sinqe Women Savings Account
Sinqe Women’s Savings Account
Coopbank introduced Sinqe-Women’s Savings Account as a tool to empower women economically. This savings account is tailored for women aged 30 years and above. Sinqe-Women’s Savings account has the following main features.
- No minimum deposit amount requirement,
- Bears better interest rates than the regular savings account,
- Is accompanied by a separately branded debit card,
- Account holders with average six months deposit of Birr 30,000.00 (Thirty Thousand Birr) and above will be entitled to Birr 100.00 (One Hundred Birr) incentive for up to three of their children each used for account opening.
- It has no transaction fee.
Benefits
- It improves the saving habits of women and the general public,
- Builds up future planning,
- Encourages financial independence of women,
- Contributes to the Economic empowerment of women.
Ordinary Saving Account
Ordinary Saving Account
It is an interest-bearing account which is compounded monthly and calculated on minimum balance of the month. The minimum balance to open this account is Birr 50.00. However, it can be opened and maintained with zero balance for a month, with the intention to establish relationship and to introduce potential customers to banking services. Within a month, the account holder should credit at least a minimum of Birr 25.00 in his/her account. However, if the account is not credited in the specified period, it should be closed following the normal account closing procedure.
Savings account can be opened and/or operated by a legal agent in the name of the principal, against producing a power of attorney, which shall be authenticated from the respective issuing body, or attested by the bank’s legal service process. If branch managers or customer service managers prove the genuineness of the document through proper KYC process, they may open an account and allow operation without authentication and with legal advice. The following are basic features and advantage of having this account.
Additional Features:
- It is an interest-bearing deposit account,
- The minimum balance to open this account is Birr 50.00,
- One can withdraw from his/her account by properly filling a withdrawal slip,
- Can be operated by a passbook and/or an ATM-Card,
- It can be opened and/or operated by a legal agent in the name of principal, against producing a power of attorney,
- No restrictions on the number and amount of deposit and withdrawal unless restricted by pertinent bodies.
Benefits
- It improves saving culture/habits of the society,
- It enables the depositor to earn income through interest,
- It helps the depositor to make fund transfer,
- Enables payment through ATM/POS cards, internet & mobile and etc.,
- It provides immediate cash as and when required.
- It gives record of all transactions for the customer.
Equipment/machinery Lease Financing
Equipment/machinery Lease Financing
The Bank may avail the Equipment/Machinery Lease Financing for either of the parties to the lease agreement i.e. Equipment/Machinery Lease financing for the lessee or Equipment/Machinery Lease Financing for the lessor.
The capital goods include earthmoving machines, construction vehicles, combiner, harvesters, etc. that are considered as essential to conduct business in any sector of the economy.
Consulting Firm Financing
Consulting Firm Financing
Consulting Firm Financing is a form of short-term loan extended for the purpose of working capital financing to business professionals engaged in rendering professional services such as Engineering, ICT, Law, Accountancy, Management, Architecture, Art, etc.
In addition to the General Eligibility Criteria, the customer shall fulfil the following specific requirements.
- Valid professional license from the concerned government body.
- The applicant shall have a minimum of two-year experience.
- Up-to-date financial statements (Audited or Provisional) including forecasted cash flow statement and business plan.
- Such loans shall be backed by acceptable collaterals.
Other Financings
Partial Financing for Acquired and Foreclosed Collateral
Partial Financing for Acquired and Foreclosed Collateral
Coopbank’s Partial Financing offers flexible support by covering part of the auction price for foreclosed and acquired properties, including buildings, vehicles, machinery, and business establishments held as collateral or acquired by the Bank.
Equipment/Machineries Lease Financing
Equipment and Machinery Lease Financing
This facility provides essential financing for capital goods such as earthmoving machines, construction vehicles, and harvesters, enabling businesses across all sectors to grow and thrive.
Import Letter of Credit Settlement Loan
This loan allows the conversion of the outstanding value of import L/C documents into a merchandise loan or term loan for up to one year, helping businesses overcome cash flow shortages. This facility is available twice per year.
General Eligibility Criteria and Conditions:
– Maintain a credit risk grade of 1, 2, or 3
– Only L/Cs opened by the Bank are eligible
– No unsettled long outstanding L/Cs
– Apply within five days of L/C document arrival notification
Construction Machinery Loan
Construction Machineries Loan
Is a loan extended in the form of term loan for the purchase of new construction machineries – dozers, graders, loaders, excavators, scrapers, rollers, asphalt pavers, crushers, concrete batching plants, concrete pavers, cranes, drilling rigs, wagon drills, chip spreaders, and concrete mixer mounted on trucks. This loan however does not include the cost of spare parts.
The minimum equity contribution for a credit risk grade 1 or 2 applicants is 50% of the purchase price of the machinery to be bought. For credit risk grades 3 and 4 applicants it is 60% and 70%, respectively.
Agricultural Machinery Loan
Agricultural Machinery Loan
Agricultural Machinery Loan is a loan granted to those who are engaged in farming and agricultural related activities on a small/medium/commercial scale or to customers who are engaged in agricultural machinery rental businesses for the acquisition of agro-processing machineries and equipment (such as water pumps, generators, combine harvesters, tractors, coffee processing machines, etc.). This loan may also include the cost of spare parts.
The minimum equity contribution for a credit risk grade 1 or 2 applicants is 50% of the purchase price of the machinery to be bought. For credit risk grades 3 and 4 applicants it is 60% and 70%, respectively.
If the customer offers additional collateral in the form of a building having estimated value equivalent to 50% of the loan amount, the bank may relax the required equity contribution.
Motor Vehicle Loan
Motor Vehicle Loan
A Motor Vehicle Loan is a term loan granted for the purchase of new motor vehicles. The loan does not, however, include the cost of spare parts or luxury items.
In addition to the General Eligibility Criteria, customers shall fulfill the following specific requirements.
- The motor vehicles to be financed should meet the standard specification of the Ministry of Transport – Transport Authority.
- The motor vehicles to be bought shall only be new brand.
- The applicant should provide two proforma invoices from legally licensed supplier, but one proforma invoice for sole agent supplier, which will be verified by sole agent confirmation letter, and/or for suppliers with which the bank has business relationship.
Agricultural Term Loan
Power Your Harvest with Coopbank Agricultural Loans
At Coopbank, we are committed to empowering Ethiopia’s farmers and agribusinesses with the right financial support. Our Agricultural Loan Packages are crafted to help you plant more, grow more, and achieve more.
Fertilizer Loan
Get timely access to fertilizers with convenient short-term financing available for individuals, cooperatives, and associations engaged in agriculture
Input Loan
Secure affordable loans for improved seeds, agrochemicals, and other essential inputs to boost your productivity.
Investment Loan
Scale your agribusiness with financing for machinery, storage facilities, livestock, and plantations. Enjoy flexible grace periods of up to five years for coffee farms and up to two years for other types of agriculture.
Coopbank — Your trusted partner in agricultural growth!