cbe

USD
56.9888
58.1286
,
GBP
68.8685
70.2459
,
EUR
61.9126
63.1509
,
CHF
60.2506
61.4556
,
SEK
4.8235
4.92
,
NOK
4.8161
4.9124
,
DKK
7.511
7.6612
,
DJF
,
JPY
0.333
0.3397
,
CAD
37.8309
38.5875
,
SAR
13.7515
14.0265
,
AED
14.0413
14.3221
,
XAF
0.012
0.0122
,
INR
,
KES
,
AUD
34.3952
35.0831
,
SDR
,
ZAR
,
CNY
7.1453
7.2882
,
KWD
177.2055
180.7496

awash

USD
56.9888
58.1286
,
EUR
61.9126
63.1509
,
GBP
68.8685
70.2459
,
CHF
60.2506
61.4556
,
SAR
13.7515
14.0265
,
AED
14.0413
14.3221
,
CAD
37.8309
38.5875

abyssinia

GBP
68.8685
70.2459
,
CHF
60.2506
61.4556
,
EUR
61.9126
63.1509
,
USD
56.9888
58.1286
,
CAD
37.8309
38.5875
,
AED
14.0413
14.3221
,
SAR
13.7515
14.0265
,
NOK
4.8161
4.9124
,
SEK
5.3298
5.4364

abay

USD
56.5376
57.6684
,
EUR
61.7956
63.0315
,
GBP
72.289
73.7348
,
CHF
64.3716
65.659
,
AUD
37.3657
38.113
,
AED
15.3911
15.6989
,
CNY
7.8594
8.0166
,
DKK
8.2877
8.4535
,
DJF
0.3166
0.3229
,
INR
0.6826
0.6963
,
JPY
0.3821
0.3897
,
KES
0.4082
0.4164
,
NOK
5.3785
5.4861
,
SAR
15.0739
15.3754
,
ZAR
3.0306
3.0912
,
SEK
5.5156
5.6259
,
SDR
78.118
79.6804

zemen

CAD
41.8021
42.6381
,
EUR
61.9126
63.1509
,
GBP
72.1136
73.5559
,
SEK
5.3298
5.4364
,
USD
56.9888
58.1286

buna

nib

GBP
68.8685
70.2459
,
EUR
61.9126
63.1509
,
CHF
60.2506
61.4556
,
USD
56.9888
58.1286
,
CAD
37.8309
38.5875
,
AED
14.0413
14.3221
,
SAR
13.7515
14.0265

berhan

wegagen

USD
56.704
57.8381
,
GBP
68.416
69.7843
,
EURO
61.4501
62.6791
,
CAD
37.8361
38.5928
,
AUD
33.7923
34.4681
,
CHF
59.9428
61.1417
,
SEK
4.8272
4.9237
,
NOK
4.7926
4.8885
,
DKK
7.4566
7.6057
,
DJF
0.2862
0.324
,
INR
0.6803
0.6939
,
KSH
0.4345
0.4432
,
JPY
0.3389
0.3457
,
SAR
13.6809
13.9545
,
AED
13.9722
14.2516
,
ZAR
3.1723
3.2357
,
CNY
7.0934
7.2353
,
KWD
176.0871
179.6088

dgb

USD
56.9757
58.1152
,
GBP
71.5102
72.9404
,
EUR
61.511
62.7412
,
CHF
62.7831
64.0388
,
CAD
41.6855
42.5192

enat

USD
56.8022
57.9382
,
GBP
70.7585
72.1737
,
CHF
62.3446
63.5915
,
SEK
5.1879
5.2917
,
NOK
5.1733
5.2768
,
DKK
8.1014
8.2634
,
KES
0.4271
0.4356
,
JPY
0.3673
0.3746
,
DJF
0.3181
0.3245
,
CAD
41.1312
41.9538
,
AUD
36.4897
37.2195
,
SAR
15.1424
15.4452
,
AED
15.4648
15.7741
,
ZAR
2.9861
3.0458
,
CNY
7.846
8.0029

addis

nbe

dashen

USD
56.9888
58.1286
,
GBP
68.8685
70.2459
,
CHF
60.2506
61.4556
,
SEK
4.8235
4.92
,
NOK
4.8161
4.91242
,
DKK
7.511
7.6612
,
JPY
0.333
0.3397
,
CAD
37.8309
38.5875
,
SAR
13.7515
14.0265
,
AED
14.0413
14.3221
,
EUR
61.9126
63.1509
,
DJF
0
0
,
INR
0
0
,
KES
0
0
,
AUD
34.3952
35.0831
,
ZAR
0
0
,
CNY
7.1453
7.2882
,
KWD
177.2055
180.7496
,
AED

oromia

USD
56.9888
58.1286
,
GBP
68.8685
70.2459
,
EUR
61.9126
63.1509
,
CHF
60.2506
61.4556
,
SAR
13.7515
14.0265
,
AED
14.0413
14.3221

lion

coop

USD
56.9239
58.0624
,
GBP
71.4053
72.8334
,
EUR
61.0167
62.237
,
SAR
15.1761
15.4796
,
AED
15.4967
15.8066

gadaa

USD
56.9586
58.0978
,
GBP
67.8529
69.21
,
EUR
61.1223
62.3447
,
AED
14.0327
14.3134
,
SAR
137438
14.0187
,
CHF
59.8147
61.011

hijra

amhara

USD
56.9888
58.1286
,
GBP
68.8685
70.2459
,
EUR
61.9126
63.1509
,
CAD
37.8309
38.5875
,
AED
14.0413
14.3221
,
SAR
13.7515
14.0265

tsehay

USD
56.9888
58.1286
,
GBP
68.8685
70.2459
,
EUR
61.9126
63.1509
,
CAD
37.8309
38.5875
,
SAR
13.7515
14.0265
,
AED
14.0413
14.3221

tsedey

USD
56.9837
58.1234
,
EUR
61.6735
62.907
,
GBP
68.612
69.9842
,
AED
14.0396
14.3204

Siinqee Bank Review

Siinqee Bank

Siinqee Bank

4.9 Rating

14% Loan Interest

Deiaspor Banking and loan

MFI loan

Agrecultural loan

Interest free Banking

Micro-Finanace institution's loan

Written by: abenezer   Proof Read by:  abenezer

Pros and Cons

pursiuts on women empowerment
support MFI
Several dispora service choices
400+ Branches
undeveloped Internet Banking

Siinqee Bank Information

Contact Information

  • SWIFT SINQETAA
  • 011-215-0481

Diaspora Benefits

  • Resident Foreign Currency Accounts (RFCY)
  • Non-Resident Transferable Birr (ETB) Account (NRT)
  • Non-Resident Non-Transferable Birr Account (NRNT)
  • Retention Accounts
  • Foreign Currency A/Cs for Ethiopians in Diaspora

Internet Banking

  • Can Check Balance
  • Can Transfer Money
  • View Account Statement
  • Can Control Progress
  • Can Pay Bills Online

Mobile Banking

  • Mobile Application
  • Balance Inquery
  • USSD Application
  • Mobile Top Up
  • Money Transfer

Loan Interest

  • Term Loan 2
  • Motor Vehicle Loan 1
  • MFI loan 1
  • Loans for International and domesticTrade 2
  • Partial Financing 2

Saving Interest

  • Personal Saving 2%
  • Women Saving 2%
  • Youth Saving 1%
  • Diaspora Fixed Time 3%

Apply for a loan here

Banks Ethiopia gives you the access and information you need to get car loan and house loan services in Ethiopia from the bank of your choice. If you are a non resident and/or a foreigner with origin of Ethiopia looking for these loan services, make sure to visit our diaspora mortgage loan and diaspora vehicle loan pages to acquire a more detailed information.

About Siinqee Bank

Siinqee Bank, the Formal Oromia Credit & Saving, is among the first microfinance institutions (MFIs) to grow it self to banking institution after the central bank of Ethiopia allowed MFIs to evolve into full-fledged banks.

Siinqee had its transformation on May 2021 with 22 shareholders and a paid-up capital of 4.4 billion birr. Which the shareholders manages to rise in to 7.45 billion birr. The bank  pursuits values like integrated, inclusive, and innovative banking and microfinance services so that women possess it in the society.

Siinqee bank branches has reached over 400 branches across the country, 2 million customers, and has manage  to mobilize 6.1 billion in deposits. with a total capital of 8.09 billion Br. Siinqee Bank made its official debut in the banking industry with a capital base that puts it on a footing with veterans a few months ago.

Services Provided by Siinqee Bank 

Ordinary Savings Account

Ordinary saving account is an interest bearing deposit account which is provided for all customers who full fill the banks requirement. Customers get there interest every month with their calculated minimum balance.

Siinqee Bank Loan Services

    1. Term Loan

      Siinqee Bank provides many loan services classified  to different types based on the term duration.

      • Short-Term Loan :- is a loan extended to finance the working capital needs and to address other short-term financial constraints of the borrower. The time duration for the short term loan is a maximum of two years.
      • A Medium-Term Loan :- is a loan that has an extended longer  period than two years, not exceeding a maximum period of five years.
      • A Long-Term Loan:- on the other hand, is a loan, which has a maturity period than of the rest

 

    1. Agriculture Term Loan

      It is a short to long-term loan granted for agricultural investment , agricultural machinery and  for production input. Applicants for the loan has to be a direct worker on the agriculture sector or involved on related agriculture influential sector (MSME) and purchasers , ago-processing machine manufacturers and  animal production (production of dairy and poultry and livestock fattening activities)

    2. Motor Vehicle Loan

      This  Loan type  is a term loan granted for the purchase of new motor vehicles. Meanwhile the loan doesn’t  include the cost of spare parts or luxury items. The loan is provided for customers who full fill the General Eligibility Criteria, and the specific requirements for this service.

    3. Domestic Trade and Services (DTS) Loan

      Credit assistance in the form of working capital is crucial for smooth flow of goods from producers to end users or consumers through local traders. This service encourages domestic  goods and services , goods like imported or locally produced encouraged through bank financing and rendering of services like trainings, legal advisory ,investment advisory and many more.

    4. Tourism and Hospitality

      Tourism and hospitality industry  presumes a lot of huge sectors than it seems , industries like ; hotels and  resorts , cultural exposures, food and beverage ,Siinqee Bank understands that supporting the tourism sector would be a hit of many birds with one stone . loan request for this sector is most of the time medium and long-term since it requires some amount of time for recovery.

    5. Loans for International Trade

      This loan category comprises both export and import related business activities. The Bank grants loans for export of agricultural products ,raw minerals or semi-processed minerals, industrially manufactured or semi-processed products.  The loan is  provided in the form of revolving credit facilities and advances against sales contract and letter of credit in addition to financing in the form of term loans, and overdraft facilities.

    6. Partial Financing for Acquired and Foreclosed Collateral

      Partial Financing is a financing scheme whereby the Bank  holds customer owned properties as a collateral which has an equivalent price with half of the loan . properties like  buildings, vehicles, machinery, and business establishments . this service have special eligibility criteria in addition to the general requirements ,Even under those full filaments Such loans are not allowed to a customer for more than two times a year.

    7. Syndicate Loan

      :- this is a type of loan where Siinqee Bank and other financers shares in agreement  of the term length, the purpose of this loan is to finance longer term investments which requires a large amount of funding. The funding may be used to acquire fixed assets and may incorporate a working capital for the project under consideration.

    8. Micro-Finance Institutions’ Loans

      Micro-Finance Institutions’ Loan is a loan availed to institutions which works  on providing  credit for Micro-entrepreneurs mainly in the form of term loans that are repayable within short to medium terms.

    9. Channel Financing

      Channel financing is a loan provided for customers in accordance to another customers recommendation of them. It is provided for short term of time   The loan is granted after the supplier or manufacturer signs personal guarantee and/or offers other acceptable collateral. The guarantor shall present the recorded business relationship including payment record of accomplishment and level of purchases/sales.

    10. Loans to Public Enterprises and Urban Utilities

      Loans to Public Enterprises are loans to public companies established as legal entity and which have a mandate to borrow funds from commercial banks. Public enterprise loans are granted in the form of short-to-medium-term loan.

    11. 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.

    12. Inter-Bank Lending

      The Bank may borrow from or lend funds to other banks/financial institutions. These inter-bank money market transactions shall be executed in accordance with the NBE directives. An Inter-Bank Lending is a short-term loan extended by one bank to another to alleviate liquidity shortage of the applicant bank.

    13. Equipment/Machinery Lease Financing

      The Bank may avail the Equipment/Machinery Lease Financing for either of the parties to the lease agreement

    14. Idea Financing

Idea financing is a term loan that is extended to individuals/groups for implementing scientific studies, which has recognition in invention and innovation by the concerned government organ. The loan can also be granted for promotion and advertisement of artistic and intrinsic societal cultures, commercial/mass production and marketing of creative ideas that have obtained recognition from the Intellectual Property Right Protection Office.

  • Loan Buyout

    Loan Buyout is a type of arrangement wherein the Bank buys loans from other Banks. This is done when it is believed that buying of the loan is beneficial to the bank. The main objectives of Loan buyout can be to:

    1. Regain ex-customer of Siinqee Bank
    2. Attract new customers from other banks
    3. Increase quality of loan whereby the bank held the collateral as a second degree for loans lent by other banks

 

International banking

  • Import Trade Service

    Siinqee Bank provides import and export services to its customers who are involved in international business  SIB provides expertise advice and quick customer services with the aim of laying the platform to smooth trade activities and transactions between sellers and buyers.the services is to be provided in accordance to its protocols and requirement for example a customer in need of import trade service needs to be aware of the payment methods (Letters of Credit (L/C), Cash Against Documents (CAD), (A/P) Cash in advance, Consignment) each having there own unique requirement and agreements.

  • Export Trade Service

    Helps customers to get their products to the world wide market through different payment methods(Letters of Credit (L/C), Cash Against Documents (CAD), Cash in advance and Consignment) following a similar process with their specific requirements.

  • Forex Services

    Siinqee bank have its forex license from NBE(National bank of Ethiopia) in order to provide currency services to its customers. Customers can get access to these services at the nearest Siinqee bank branch.

Diaspora & Foreign Currency Accounts

Siinqee Bank  has provided many choices for the wide diaspora community in accordance to there illegibility ,customers (citizens , not citizens ) who are not working or resident at Ethiopia have the following account types:

  • Resident Foreign Currency Accounts (NRFCY)

    These account is open for international customers (international institutions, embassies, foreign individuals who makes there living in Ethiopia )who have an authorized letter from which expresses basic information about the person  NBE together with their request.

  • Non-Resident Transferable Birr (ETB) Account (NRT)

    It is  non-interest-bearing accounts with a specific found sources like    NR transferable Birr accounts from abroad or from payments from other NR accounts and NR foreign currency accounts.

  • Non-Resident Non-Transferable Birr Account (NRNT)

    Non-interest-bearing accounts which are  denominated in Birr.

  • Retention Accounts

    According to NBE’s Directive, eligible exporters of goods and services and recipients of inward remittances can open foreign exchange retention accounts, namely: Foreign Exchange Retention Account for 20 % of a single transfer. The remaining 80% will be credited to local currency Account of a single transfer. The balance held in retention account may be kept for an indefinite period of time and shall be sold fully or partly by the request of the account holder.

  • Foreign Currency A/Cs for Ethiopians in Diaspora

    All Ethiopian nationals who  lives and works abroad for more than one year or business organizations which are owned by non-resident Ethiopians located outside Ethiopian territory for more than one year are illegible to use this service.

Types of  Diaspora Accounts

  1. Fixed (time) Deposit Account:is a type of account where customers get interest with agreed maturity date.
  2. Current Account: It  operated by per-arranged procedure  and by using cheque book (based on  preferable choice of the customer ).
  3. Non-Repatriable Birr Account: this account is served for customers who would wish to have a saving deposit  that they can only use for local payments. And the good thing about this service is that the National Bank of Ethiopia  double the minimum saving deposit Interest rate on such accounts.

 

International Money Transfer

The Bank provides many types of international transactions through all of its branches.

    1. Inward Transfers

Is a service provided for customers to receive their incoming transfers through all of siinqee Bank brunches through remittance Service Providers (Western Union, Money Gram) or from Bank to Bank transfers(SWIFT)

    1. Outward Foreign Payments (Transfers)

Since Siinqee Bank has established similar bank account relation ships with many banks worldwide , individual or organizational customers can request for payments to be proceed  across boards including , medical bills, membership fees , hotel booking, insurance, and  imports (≤ USD 5,000.00).

Correspondent Banks

This service is provided by building relation with prominent banks worldwide.

Interest Free Deposits products

Two categories of deposits:

    1. Non-Mudaraba Deposit

      • Amana– Current Account
      • Wadia– Saving Account
      • Hajji/Umra– Saving Account
      • New accounts (i.e for women, Children, Education and Retirees)
    2. Wadia- Saving Account

“Wadia” means custody or safekeeping. In a Wadia arrangement, an account holder deposits funds in a bank and the bank guarantees the safety and refund of the entire amount of the deposit, or any part of the outstanding amount, when the depositor demands it.

M Birr

Siinqee Bank provides M birr as one of its service for a day to day transaction , payments , telecom activities and the good future in its customers can use there phone only with no need of internet connection. for further information you may visit the nearest siinqee bank branches

4.9

Siinqee Bank

Loan Interest

9.7

Mobile Banking

2

Internet Banking

2

Saving Interest

5.8

Customer Service

2

Diaspora Benefit

8

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