Awash Bank Financial Service
In collaboration with Awash Bank, Ethio telecom’s Micro Credit and Savings service with telebirr offers fast, secure digital loans and convenient savings management with flexible repayment and no bank visits required.
Micro Credit and Saving Products
Tila Personal Micro Credit
Description
Tila Credit service enables individual customers to access micro personal credit ranging from 500 to 16,000 ETB, with repayment terms of up to 75 days, based on their Telebirr transaction history.
| Credit amount | Credit Limit | Facilitation | Daily | Penalty |
|---|---|---|---|---|
| 15 Days | 500 – 5,000 | 1.25% | 0.50% to 1.20% | 0.11% |
| 40 Days | 1,200 – 12,000 | 4.50% | 0.50% to 1.20% | 0.11% |
| 75 Days | 1,200 – 16,000 | 6.50% | 0.50% to 1.20% | 0.11% |
Tila Micro Saving Service
Description
Enables customers to save any amount of money from anywhere via telebirr, with the option to choose between non-interest-bearing or 7.15% interest-bearing savings accounts.
Locked Saving
This service allows customers to deposit any amount of money for a specified period to earn a higher interest rate.
| Locked Saving Period | Interest Rate (%) |
|---|---|
| 3 Months | 7.50% |
| 6 Months | 7.75% |
| 9 Months | 8.00% |
| 12 Months | 8.50% |
Loan Services for Micro and Small Enterprises (MSEs)
Description
A non-collateral micro-credit service that offers up to 500,000 Birr for MSMEs, merchants, and agents, based on their telebirr transaction volume.
| Repayment Period | Min. Loan | Max. Loan | Monthly Fee | No. of Installments | Penalty |
|---|---|---|---|---|---|
| 1-Month | 1,000 | 30,000 | 9% | 1 | 0.11% |
| 3-Months | 30,001 | 150,000 | 8% | 3 | 0.11% |
| 4-Months | 150,001 | 250,000 | 7% | 4 | 0.11% |
| 6-Months | 250,001 | 500,000 | 6% | 6 | 0.11% |
Salary Based Loan
Description
This option allows employees of private and government institutions whose monthly salaries are paid through Telebirr or Awash Bank to access loans of up to 1 million Birr (equivalent to six months’ salary), repayable over 16 months.
| Loan Type | Loan Range | Facilitation Fee | Fee per Month | Repayment Period | Penalty |
|---|---|---|---|---|---|
| 6 months Salary | 1,000 – 1,000,000 | 22% | 1.38% | 16 Months | 0.11% |
Activation for Awash Bank Micro Credit Service
- To activate Awash Bank micro credit service with Ethio telecom and Awash Bank, you must be at least:
- Able to read, understand and accept these terms and conditions.
- 18 year old and above.
- Have an Ethio telecom active SIM card.
- Active user of telebirr and Ethio telecom products such as Data/Voice/SMS.
- Stay on network for three months after registered for SIM card and telebirr service.
- To activate the Awash Bank service, customers shall use USSD *127# or telebirr superapp.
Eligibility Criteria
- A customer’s borrowing capacity is determined by his or her 6-month telebirr transaction and telecom usage prior to the date of the Awash Bank micro credit service request.
- The telebirr transactions listed below are used to determine a customer’s creditworthiness.
- Purchase airtime/packages/ticket
- Buy goods/service
- Bills, Utility or Fundraising payment
- Bulk disbursement
- Receive Remittance
- Send money, Cash in & out
- Loan repayment
- Saving
- Telecom usage like Voice, Data and SMS etc.
- Receiving salary.
Credit Amount and Fees.
- You can borrow any amount between the minimum and maximum amount permitted.
- You will get the requested credit amount, and it will be credited to your main telebirr account (customer e-money account).
- You should repay your previous credit first to get another credit.
- You can pay your credit partially or fully.
- After the due date, you will be charge a penalty.
- After the due date, the lender will take the outstanding credit amount from your e-money account automatically if you do not repay on time.
