The Health Savings Account is designed in order to serve partial segments of the society in a special consideration. The account is like an ordinary saving account with special features designed for the purpose.
Account Features
- The minimum initial deposit required to open this account is Birr 500.
- The customer shall save a minimum of six contributions or Birr 3,000 within a year to be eligible for this type of product.
- The account can be opened with or without passbook as per the customer's preference.
- The interest rate applied to Hibir Health Savings Account will be higher than the ordinary saving deposit interest rate.
- A separate Hibir Debit Card (ATM) issued. The debit card also indicates the account is for Hibir Health Savings Account.
- The account holders also allowed registering for other Multichannel Banking services, such as Internet banking (Hibir Online), Mobile Banking, and ATM services.
- The Bank will pay back additionally up to 1% of the average deposit of six months when the customers spends the money at health institute (Hospital or Clinic) locally by referring the necessary documents of the clinic or hospital in which the customer visited.
- To be eligible to the benefit, the customer should have at least Birr 3000 in his/her account.
- Until the customer fulfil the minimum number of contributions and/or the minimum amount within a year time, the exceeded interest rate from the normal savings account will not be applied. in other words, it will apply regular interest rate until the customers deposit reached at Birr 3000.
Account Benefits
- The account can be opened individually or jointly with family member.
- Any customers who are legally capable of entering a contract and fulfill the Bank's requirement are eligible to open and use Hibir Health Savings Account.
- Able to present renewed ID card and two recent photographs.
