1.1.1 Mortgage Loan to the Diaspora

This loan is designed to cover the cost of constructing new residential houses, adding living space to existing properties, or purchasing existing residential houses.

Eligibility Criteria & Documents Required

• Ethiopian citizen or origin living in a foreign land
• Residence and/or work permit
• Renewed passport for non-resident Ethiopians or renewed passport and yellow card for foreigners of Ethiopian origin
• One latest passport size photograph
• Marriage certificate or otherwise
• Employment letter showing annual gross and net income or individual tax return
• Copy of employment contract and bank account statement from foreign banks for at least one year
• For business owners: Financial statement for at least 3 consecutive years, renewed trade license, and tax payment certificate

Features

• Residential house must be in big cities with grade 3 or 4 or special branches.
• Applicant must provide credit information regarding direct or indirect liability.
• Interest rate based on equity contribution amount and currency type.
• Maximum loan amount: 90% of the purchase price.

1.1.2 Automobile Loan to the Diaspora

Eligibility Criteria & Documents Required

• Residence and/or work permit
• Renewed passport for non-resident Ethiopians or renewed passport and yellow card for foreigners of Ethiopian origin
• One latest passport size photograph
• Marriage certificate or otherwise
• Employment letter showing annual gross and net income or individual tax return
• Copy of employment contract and bank account statement from foreign banks for at least one year
• For business owners: Financial statement for at least 3 consecutive years, renewed trade license, and tax payment certificate

Features

• Interest rate based on currency type for equity contribution and repayments.
• Maximum loan repayment period: 10 years for brand new automobiles.
• Equity contribution: 10% of automobile value for brand new.
• Maximum loan amount: 90% of the automobile price.
• Repayment and equity contribution in FCY.

1.1.3 Personal Loan to the Diaspora

This loan is designed to help meet urgent financial needs.

Eligibility Criteria & Documents Required

• Residence and/or work permit
• Renewed passport for non-resident Ethiopians or renewed passport and yellow card for foreigners of Ethiopian origin
• One latest passport size photograph
• Marriage certificate or otherwise
• Employment letter showing annual gross and net income or individual tax return
• Copy of employment contract and bank account statement from foreign banks for at least one year
• For business owners: Financial statement for at least 3 consecutive years, renewed trade license, and tax payment certificate

Features

• Collateral not necessarily in the name of the applicant or spouse for non-Ethiopian residents.
• Maximum loan amount: 100% of provident fund balance if used as collateral.
• Loan granted for a maximum of 5 years or remaining employment period before retirement minus one year.
• Can be granted for a house with a mortgage loan if at least 50% paid.

2.1 Diaspora Saving Account

Eligibility

• All Ethiopians and Ethiopian Origins living in foreign lands
• Source of deposit in foreign currency (FCY)

Required Documents

• Passport or Passport and Ethiopian origin ID

Benefits

• Higher interest rate (14%)

2.2 Diaspora Saving Account in FCY

Eligibility

• All Ethiopians and Ethiopian Origins living in foreign lands
• Source of deposit in foreign currency (FCY)

Required Documents

• Passport or Passport and Ethiopian origin ID

Benefits

• Deposit in FCY, exchange gain
• Better interest rate (SOFR + 4%)

2.3 Diaspora Mortgage Saving Account

Eligibility

• All Ethiopians and Ethiopian Origins living in foreign lands
• Source of deposit in foreign currency (FCY)

Required Documents

• Passport or Passport and Ethiopian origin ID

Benefits

• Saving interest (7%)
• Mortgage loan

2.4 Foreign Hawala Saving Account

Eligibility

• All Ethiopians and Ethiopian Origins
• Transferring fund through CBE
• Exchanging FCY at CBE Branches

Required Documents

• Passport or Passport and Ethiopian origin ID

Benefits

• Air time top up
• Priority for FCY allocation for travel
• Better interest rate (14%)

2.5 Fixed-Time Deposit in FCY

Eligibility

• All Ethiopians and Ethiopian Origins living in foreign lands
• Source of deposit in FCY

Required Documents

• Passport or Passport and Ethiopian origin ID

Benefits

• Deposit in FCY, exchange gain
• Better interest rate (SOFR + 4%)

2.6 Current Account in FCY

Eligibility

• All Ethiopians and Ethiopian Origins living in foreign lands
• Source of deposit in FCY

Required Documents

• Passport or Passport and Ethiopian origin ID

Benefits

• Withdrawal can be either in FCY or Birr
• Used for import
• Deposit in FCY, exchange gain

2.7 Saving Account Linked with Loan

Eligibility

• Transferring FCY through CBE
• All Ethiopians working in foreign lands (home/domestic workers)
• Professional home/gig workers

Required Documents

• Passport or residence ID
• All legal documents required for loan processing

Benefits

• Better saving interest (ordinary interest rate + 1%)
• Prior FCY allocation for travel
• Start-up loan for business
• Loan for commercial vehicle
• Mortgage loan

3.1 Digital Remittance Service

CBE offers digital remittance platforms like EthioDirect, Fast Pay, and CashGo for the diaspora to send money using MasterCard and Visa free of charge directly to the beneficiary’s bank account or CBE Birr wallet.

Benefits

• Free or low-cost transfer
• Real-time transaction
• Secure and reliable service

3.2 Money Transfer Organizations

CBE collaborates with international money transfer organizations:

• Western Union
• Money Gram
• Transfast
• World Remit
• Dhabshil
• Cash Express
• Thunes

Benefits

• Secure and reliable service

Eligibility

• Any person or institution for amounts less than USD 10,000 or equivalent
• Any person or institution that submits customs declaration for over USD 10,000 or equivalent.

Benefits

• Better access (Branches and ATMs)
• Flexible FX rate/FX Bureau rate
• Secure and reliable service