Hibir Diaspora 

United Bank is pleased to introduce Hibir Diaspora, a new service designed to suit the needs of the Diaspora community. The new service package includes, among others, deposit and loan services offered for Ethiopian Nationals or Foreign Nationals of Ethiopia Origin, who are living and working abroad for more than one year.

• Diaspora Deposit Account

Diaspora Deposit accounts can be opened for Ethiopians or Foreign Nationals of Ethiopia Origin who are living and working abroad for more than one year.

Deposits can be made in one of the following foreign currencies (FYC):  US Dollar (USD), Pound Sterling/GBP, and EURO

Types of Diaspora Deposit Accounts 

• Diaspora Saving Accounts – a type of saving account having an attractive interest rate. The amount deposited in foreign currency will be converted to Birr.
• Diaspora Current Accounts – checking account in foreign currency.
• Diaspora Fixed Time Accounts – it is an attractive interest bearing account having an agreed maturity date.

  To open an Account, the following options are available:

• Present all the necessary documents to United Bank branches in person,
• Persons residing abroad can open the account in person by contacting international money transfer agents that have a working relationship with the Bank as well as have an official agreement to open accounts on behalf of United Bank.
• It is also possible to directly fill out the application form designed for the purpose from the Bank’s website @ www.unitedbank.com.et, and presenting the filled forms together with the required documents authenticated from the Ethiopian Embassies in their domain.

Documents required: 

Application forms properly filled and signed by the applicant with 2 recent photograph of the account holder,

• Copy of Resident ID and Passport (for Ethiopian national living abroad),
• Copy of Passport and Ethiopian Origin ID (For Foreign Nationals of Ethiopian Origin),
• Work permit and authenticated employment contract (for Ethiopian nationals living and working abroad or in due process of leaving abroad for work for more than one year)

• Diaspora Loan Accounts

• Diaspora Personal Loan

This is a type of loan that is extended for personal use; such as for the purchase of household items, home renovation, car maintenance, education, medical help, cover wedding costs etc.

• Diaspora Automobile Loan

This is a type of loan extended for the purchase of automobile; either for personal use or for rental purposes (i.e. code 02 or 03 vehicles). The year of manufacturing for the vehicle shall not exceed 15 years at the time of purchase.

Purpose of Vehicle	State of the vehicle	FCY Equity Contr.	Maximum Tenure (years)	Interest
				FCY Repay’t	LCY Repay’t
Code 02	Used	>=55%	8	11%	15%
	Brand New	>=45%	10	10.5%	14.5%
Code 03	Used	>=60%	8	12%	15.5%
	Brand New	>=45%	10	13%	16%

• Diaspora Housing Loan

Anyone with valid Diaspora ID is entitled for this loan. However, to be entitled for housing loan, the applicant should channel at least 20% of the total loan request amount in acceptable FCY prior to the loan approval.

Purpose of Loan	FCY Equity Contribution	Maximum Tenure (years)	Interest
			FCY Repay’t	LCY Repay’t
Purchase and Construction	20% -30%	15	10%	12.5%
	31% – 55%	20	9.25%	11.75%
	55 – 65%	20	9%	11.5%
	>65%	25	8.5%	10.5%

• Diaspora Direct Investments (DDI)

United Bank also extends various Diaspora Direct Investments (DDI) packages offering Investments schemes for businesses affiliated to the Diasporas. The DDI loans have lower interest rates and longer loan tenure.

• DDI – Real Estate

DDI-Real Estate loan is extended for real estate developers to be used for building residential or commercial buildings for rent or sale. In order to qualify for the service developers are expected to have an equity contribution made in foreign currency.

Purpose of the loan	Sales Target	FCY Equity Cont.	Maximum Tenure (years)	Interest
				FCY Repay’t	LCY Repay’t
Build to Sale	Diaspora	>=10%	10	10%	12%
	Local	>=30%	10	11.5%	13.5%
Build to let	Diaspora/Expat	>=20%	10	12.5%	14%
	Local	>=40%	10	13%	14.5%

• DDI – Manufacturing

DDI Manufacturing loan is meant for manufacturing establishments by the Diaspora with equity contribution made in FCY. The financing will be extended for working capital or project accomplishments.

Purpose of the loan	Sales Target	FCY Equity Cont.	Maximum Tenure (years)	Interest
				FCY Repay’t	LCY Repay’t
Working Cap	Export	>=10%	4	10%	12%
	Local	>=30%	4	11.5%	13.5%
Project	Export	>=20%	10	12.5%	14%
	Local	>=40%	10	13%	14.5%

• DDI – Movable Economic Asset Financing

DDI – Movable Economic Asset Financing is a financing option extended to cover a partial cost to purchase Transport vehicles, Equipments and Construction Machineries used for rental or operational purpose with intent to generate income. Those who will qualify for the purpose can purchase these assets for own or third party i.e. family members or others by contributing the equity in FCY.

Minimum FCY Equity Cont.	Maximum Tenure (years)	Interest
		FCY Repay’t	LCY Repay’t
40%	5	13%	14.5%

Please be ready to avail the following documents when demanding the service:

• Tax Clearance Certificate (if applicant or mortgagor has business in Ethiopia),
• Valid Diaspora ID, Foreign Resident permit,
• Evidence of marital status,
• Approved Plan and Land Holding Certificate (for housing purchase),
• Bill of Quantities & Specification (if property is under Construction),
• Proforma Invoice and/or Sales Agreement (for Automobile purchase),
• TIN Number of the applicant and his/her spouse, if possible.

Bring in all the documents, make your down payments and WAIT for less than just a week to OWN your dream!

For more information please call +251 0906141414 via what’s up, Viber, messenger

Email: [email protected]

በሕብረት ሠርተን በሕብረት እንደግ!

United, We Prosper!