telebirr Sanduq (Saving)

It is a method of saving small sum of e-money to individuals telebirr account using telebirr app or
USSD (*127#).

Interest bearing Saving Account

It allows customers to securely store money anytime from anywhere and any amount that enables customers to get an interest fee.

Non-interest-bearing saving service:

Interest will not be applicable. Customers can save and withdraw anytime.

Deposit Type

On demand saving

  • Customers can save any amount any time and can withdraw anytime.
  • Customers can choose between an interest free offer (0% interest) and a 7% interest rate offer.

Locked saving

  • Customers can save specific amount for defined period i.e. customers can not withdraw before defined period. The interest fee will be 8% per year (0.67% per Month).

Installment saving

  • Customers can save periodically. The interest fee will be 7.5% per year (0.63% per Month).
  • telebirr Sanduq activation requirement
  • 18-year-old and Above
  • Have an Ethio telecom SIM card
  • Active user of telebirr and Ethio telecom products such as Data/Voice/SMS
  • You can use USSD (*127#) or telebirr app to register

How to activate and use the service

To Activate

  • Go to Financial Service
  • Select Sanduq
  • Read the terms and conditions
  • tick the check box
  • Select annual interest rate and press activate.

To deposit money

  • Go to On-Demand Saving under telebirr sanduq
  • Select Deposit
  • Enter the amount to be saved and press Deposit

To withdraw money

  • Go to On-Demand Saving under telebirr sanduq
  • Select Withdraw
  • Enter the amount to be withdrawn and press Withdraw

1. The Agreement

    • This Agreement sets out the complete Terms and Conditions (hereinafter called " These Terms and Conditions") which shall be applicable to telebirr Sanduq Service.
    • These Terms and Conditions and any amendments or variations thereto take effect on their date of publication.

2. Definitions

In these Terms and Conditions, the following words and expressions bear the following meanings:

    • “telebirr Sanduq Service” is a method of saving small sum of e-money to individuals saving account using telebirr app or USSD.
    • “telebirr Sanduq Service” means a service performed by a Customer with Ethio telecom and which is operated in accordance with the terms and conditions herein contained.
    • “Lock Savings Service” is a type of saving service which customers can save with specified period of time with better interest rate.
    • “Customer” means the person in whose name the telebirr Sanduq service with telebirr account is existing.
    • “You” “you” or "your" means the Customer
    • “E-Money” means the electronic monetary value depicted in customers telebirr Account representing an equal amount of cash.
    • “Principal amount” means the amount of money initially deposited by customers.

3. Acceptance of the Terms and Conditions

    • Before applying to use telebirr Sanduq service you should carefully read and understand these Terms and Conditions which will govern the use and operation of telebirr Sanduq
    • If you do not agree with these Terms and Conditions, please click “Cancel” on the Menu.
    • You will be deemed to have read, understood, and accepted these Terms and Conditions
    • Upon clicking on the “Agree” option on the Menu requesting you to confirm that you have read, understood, and agreed to abide with these Terms and Conditions; and/or by using or continuing to use and operate telebirr Sanduq Service.
    • These Terms and Conditions may be amended or varied by Ethio telecom from time to time and any amendments or variations thereto take effect on their date of publication.
    • Continued use of your telebirr Sanduq service after this notice period constitutes your agreement to be bound by the terms of any such amendment or variation.
    • You acknowledge and accept the telebirr Sanduq service only electronically and you agree to do business with Ethio telecom and to operate the telebirr Sanduq service only by electronic means via telebirr system.

4. Activation for Micro Saving Service

  • To activate telebirr Sanduq Service with Ethio telecom, you must be at least:
    • 18-year-old and Above
    • Have an Ethio telecom SIM card
    • Active user of telebirr and Ethio telecom products such as Data/Voice/SMS
    • You can use USSD (*127#) or telebirr app to register
    • You will receive a notification for successful registration
  • Once activated for telebirr Sanduq Service, you may make deposits into or withdrawals from your Saving Account using telebirr Menu using your phone.

5. Types of Saving Services

    • You can activate interest free telebirr Sanduq or with interest.
    • For the saved amount you would get payments if you activated saving with interest service that will be paid on periodic intervals as determined by lender and/or upon respective maturity dates of such deposits.
    • Customers shall save more than Birr 26 to get interest.