1.      Credit Services:

Company has been offering diversified loan products to its customers. Solidarity group based loan, MSE Loan, Business loan, WDEP Loan, General purpose loan, Business Loan, Housing loan  and Interest Free Finance are the major loan products of the company.

1.1.               Solidarity Group Based Loan (SGBL):- SGBL is a microloan that self organized groups in rural and urban settings are eligible to borrow through group liability. It targets all segments of low income population but mainly women and unemployed youths.

1.2.              Micro and Small Enterprise Loan (MSEL):- MSEL targets higher education institution graduates as well as other unemployed youths or individuals who establish one of business entities such as Cooperatives, Sole proprietorship, Partnership, Share Company and Private Limited Company.

1.3.            Business Loan (BL):- BL is a loan type that offered to individual or group business runners.  The operators need to present matching collateral for their loan request i.e. obviously legal urban house.

1.4.            Women Entrepreneurs Development Program Loan (WEDP):- WEDP loan intends to enhance women owned individual businesses or enterprises through ensuring financial support. The main targets are individual businesses owned by women and of organized women enterprises that are in operation for at least 6 months.

1.5.            General Purpose Loan (GPL):- GPL is a loan product for permanent employees of government and non government organizations that borrowed for any personal affairs through presenting equivalent salary guarantee. 

1.6.            Housing Loan (HL):- This is a housing loan for employees to contribute toward the efforts that have been made by government in reducing the housing problems in towns.  HL is provided to permanent government and non-government employees, police forces and government appointee officials who can present required guarantee or collateral.

1.7.            Interest Free Finance (IFF):- IFF is finance services delivered to clients who don’t want to borrow with interest due to their religion. The service is offered in consistent with Islamic (Sheria) finance principles. OCSSCO provides interest free finance known as Murabaha Financing which is an asset-based sale transaction used to finance goods.

S/L

Product Type

Modality

Maximum Loan Size

Maximum Loan Term

Interest Rate

Service Charge

Collateral/

Guarantee

1.

Rural Solidarity Group Based Loan

In group

15,000 ETB

1 yrs

17 %

3%

Group liability

2.

Urban Solidarity Group Based Loan

In group

15,000 ETB

1 yrs

17 % Decline

3%

Group liability

3.

Micro & Small Enterprise

As business entity

Depends on business plan & collateral

Up to 5 yrs depends on cash flow

13 % Decline

3%

House, Salary, land certificate, vehicle, institutional guarantee

4.

Business Loan

As business entity

Depends on business plan & collateral

Up to 3 yrs depends on cash flow

17 % Decline

3%

Legal Urban House

5.

WEDP Loan

As business entity

Depends on business plan & collateral

Up to 3 yrs depends on cash flow

13 % Decline

3%

Legal Urban House

6.

General Purpose Loan

Individual

Depends on borrower’s salary

2 yrs

17 % Decline

3%

Salary or House  Guarantee

7.

Housing Loan

Individual

Depends on borrower’s salary

5 yrs

17 % Decline

3%

Salary or House  Guarantee

8.

Murabaha MSE Finance

As business entity

Depends on business plan & collateral

Up to 5 yrs depends on cash flow

Markup

NO

Group liability

9.

Murabaha Individual Finance

As business entity

Depends on business plan & collateral

Up to 3 yrs depends on cash flow

Markup

NO

Legal Urban House

10.

Murabaha Group Based Finance

In group

15,000 ETB

1 yrs

Markup

NO

Group liability

 

2.      Saving services: 

OCSSCO has currently seven different saving products identified as Regular, Handhura, Sorema, Coin-box, Wadia Saving Account, Fixed Time Deposit and Current Account.

2.1.            Regular saving

Regular Saving is a non contractual saving that enables savers to withdraw their deposit at anytime they want without any restriction. 

2.2.            Handhura saving

“Handhura” is a saving product that targets parents and other relatives interested to save for their children or children under their guardianship (protection) for future expenditure, school fees, and wealth. In addition to wealth accumulation for future uses, Handhura saving is also used as one of the tools to educate the community including the children about savings and also used to promote saving culture early in their childhood.

2.3.            Wadia Saving Account

Wadia Saving Account a voluntary saving type with that clients who don’t want an interest for religious purposes can deposit their money for the sake of security. It’s deposited and kept separately from conventional system at interest free financial service window. Wadia Saving is subject to withdrawal at anytime. 

2.4.            Sebeta Ayo Saving Account

Sebeta Ayo Saving Account is voluntary saving type that targets only women. It offers special interest (higher than the conventional one) to its clients. The objective is to encourage women saving and investment that believed as ground for family & community empowerment.   

2.5.            Sorema saving

Sorema is a long term contractual saving designed to mobilize savings from the people during their active age and when they are earning more income that to be deposited with special interest returns and to be withdrawn for investment, creating family or own jobs or to cover future planned or unplanned expenditures.

2.6.            Coin-box saving

It is a saving service that will be delivered to any individual who cannot physically appear to OCSSCO branch office to deposit due to the nature of their business. The major targets are loan customers, petty traders, small shop owners, mini cafeterias, taxi drivers and assistant.  OCSSCO rents coin box to customers and help them to deposit at their work place.

2.7.            Fixed Time Deposit

Fixed time deposit is a type of deposit, which is deposited for a certain agreed period of time at pre agreed interest rate that to be paid if only withdrawal is made after the agreed time.

2.8.            Current Account

OCSSCO provides current (checking account) services on which the account owner can order payments to the check bearer. But unlike other checks, the existing OCSSCOs’ check is used only for internal purpose that to be used for cash order transactions that is to be made between OCSSCOs’ branch in which the account is opened and the account owner in the branch.

 

S/L

Product Type

Interest Earned

Minimum Opening Balance

1.

Regular Saving

7%

30+

2.

Handhura /Minor/ Saving

7% - 12%

30+

3.

Sebeta Ayo /Women Saving

8.5%

30+

4.

Sorema /Pension/ Saving

7% - 10%

30+

5.

Wadia Saving

No

10+

6.

Coin-box Saving

7%

30+

7.

Fixed Time Deposit

7.15% - 8%

30,000+

8.

Current Account (Check)

No

1,000+

 

3.      M-Birr Services

OCSSCO provides M-BIRR service which is a mobile money service that allows customers to do financial transactions from the convenience of your mobile phone at anytime from anywhere. This service enables customers to;

1.      Credit Services:

Company has been offering diversified loan products to its customers. Solidarity group based loan, MSE Loan, Business loan, WDEP Loan, General purpose loan, Business Loan, Housing loan  and Interest Free Finance are the major loan products of the company.

1.1.               Solidarity Group Based Loan (SGBL):- SGBL is a microloan that self organized groups in rural and urban settings are eligible to borrow through group liability. It targets all segments of low income population but mainly women and unemployed youths.

1.2.              Micro and Small Enterprise Loan (MSEL):- MSEL targets higher education institution graduates as well as other unemployed youths or individuals who establish one of business entities such as Cooperatives, Sole proprietorship, Partnership, Share Company and Private Limited Company.

1.3.            Business Loan (BL):- BL is a loan type that offered to individual or group business runners.  The operators need to present matching collateral for their loan request i.e. obviously legal urban house.

1.4.            Women Entrepreneurs Development Program Loan (WEDP):- WEDP loan intends to enhance women owned individual businesses or enterprises through ensuring financial support. The main targets are individual businesses owned by women and of organized women enterprises that are in operation for at least 6 months.

1.5.            General Purpose Loan (GPL):- GPL is a loan product for permanent employees of government and non government organizations that borrowed for any personal affairs through presenting equivalent salary guarantee. 

1.6.            Housing Loan (HL):- This is a housing loan for employees to contribute toward the efforts that have been made by government in reducing the housing problems in towns.  HL is provided to permanent government and non-government employees, police forces and government appointee officials who can present required guarantee or collateral.

1.7.            Interest Free Finance (IFF):- IFF is finance services delivered to clients who don’t want to borrow with interest due to their religion. The service is offered in consistent with Islamic (Sheria) finance principles. OCSSCO provides interest free finance known as Murabaha Financing which is an asset-based sale transaction used to finance goods.

S/L

Product Type

Modality

Maximum Loan Size

Maximum Loan Term

Interest Rate

Service Charge

Collateral/

Guarantee

1.

Rural Solidarity Group Based Loan

In group

15,000 ETB

1 yrs

17 %

3%

Group liability

2.

Urban Solidarity Group Based Loan

In group

15,000 ETB

1 yrs

17 % Decline

3%

Group liability

3.

Micro & Small Enterprise

As business entity

Depends on business plan & collateral

Up to 5 yrs depends on cash flow

13 % Decline

3%

House, Salary, land certificate, vehicle, institutional guarantee

4.

Business Loan

As business entity

Depends on business plan & collateral

Up to 3 yrs depends on cash flow

17 % Decline

3%

Legal Urban House

5.

WEDP Loan

As business entity

Depends on business plan & collateral

Up to 3 yrs depends on cash flow

13 % Decline

3%

Legal Urban House

6.

General Purpose Loan

Individual

Depends on borrower’s salary

2 yrs

17 % Decline

3%

Salary or House  Guarantee

7.

Housing Loan

Individual

Depends on borrower’s salary

5 yrs

17 % Decline

3%

Salary or House  Guarantee

8.

Murabaha MSE Finance

As business entity

Depends on business plan & collateral

Up to 5 yrs depends on cash flow

Markup

NO

Group liability

9.

Murabaha Individual Finance

As business entity

Depends on business plan & collateral

Up to 3 yrs depends on cash flow

Markup

NO

Legal Urban House

10.

Murabaha Group Based Finance

In group

15,000 ETB

1 yrs

Markup

NO

Group liability

 

2.      Saving services: 

OCSSCO has currently seven different saving products identified as Regular, Handhura, Sorema, Coin-box, Wadia Saving Account, Fixed Time Deposit and Current Account.

2.1.            Regular saving

Regular Saving is a non contractual saving that enables savers to withdraw their deposit at anytime they want without any restriction. 

2.2.            Handhura saving

“Handhura” is a saving product that targets parents and other relatives interested to save for their children or children under their guardianship (protection) for future expenditure, school fees, and wealth. In addition to wealth accumulation for future uses, Handhura saving is also used as one of the tools to educate the community including the children about savings and also used to promote saving culture early in their childhood.

2.3.            Wadia Saving Account

Wadia Saving Account a voluntary saving type with that clients who don’t want an interest for religious purposes can deposit their money for the sake of security. It’s deposited and kept separately from conventional system at interest free financial service window. Wadia Saving is subject to withdrawal at anytime. 

2.4.            Sebeta Ayo Saving Account

Sebeta Ayo Saving Account is voluntary saving type that targets only women. It offers special interest (higher than the conventional one) to its clients. The objective is to encourage women saving and investment that believed as ground for family & community empowerment.   

2.5.            Sorema saving

Sorema is a long term contractual saving designed to mobilize savings from the people during their active age and when they are earning more income that to be deposited with special interest returns and to be withdrawn for investment, creating family or own jobs or to cover future planned or unplanned expenditures.

2.6.            Coin-box saving

It is a saving service that will be delivered to any individual who cannot physically appear to OCSSCO branch office to deposit due to the nature of their business. The major targets are loan customers, petty traders, small shop owners, mini cafeterias, taxi drivers and assistant.  OCSSCO rents coin box to customers and help them to deposit at their work place.

2.7.            Fixed Time Deposit

Fixed time deposit is a type of deposit, which is deposited for a certain agreed period of time at pre agreed interest rate that to be paid if only withdrawal is made after the agreed time.

2.8.            Current Account

OCSSCO provides current (checking account) services on which the account owner can order payments to the check bearer. But unlike other checks, the existing OCSSCOs’ check is used only for internal purpose that to be used for cash order transactions that is to be made between OCSSCOs’ branch in which the account is opened and the account owner in the branch.

 

S/L

Product Type

Interest Earned

Minimum Opening Balance

1.

Regular Saving

7%

30+

2.

Handhura /Minor/ Saving

7% - 12%

30+

3.

Sebeta Ayo /Women Saving

8.5%

30+

4.

Sorema /Pension/ Saving

7% - 10%

30+

5.

Wadia Saving

No

10+

6.

Coin-box Saving

7%

30+

7.

Fixed Time Deposit

7.15% - 8%

30,000+

8.

Current Account (Check)

No

1,000+

 

3.      M-Birr Services

OCSSCO provides M-BIRR service which is a mobile money service that allows customers to do financial transactions from the convenience of your mobile phone at anytime from anywhere. This service enables customers to;

tick box

Deposit cash at an agent

tick box

Withdraw cash at an agent

tick box

Transfer money

tick box

Buy mobile top up

tick box

Pay bills

tick box

Buy goods

tick box

Repay loans

tick box

Check balance

tick box

Get a statement

“There is no need to travel or queue. As long as you have money on your account you can transact from the convenience of your phone.”

 

 

4.      Fund Administration Services

OCSSCO administers third part funds. The company and several partners’ with common objectives have been jointly providing of micro credit for different purposes like solar energy, biogas, etc.

 

 

 

Go to top \clip_image002.gif" alt="tick box" width="20" height="23" />

Deposit cash at an agent

1.      Credit Services:

Company has been offering diversified loan products to its customers. Solidarity group based loan, MSE Loan, Business loan, WDEP Loan, General purpose loan, Business Loan, Housing loan  and Interest Free Finance are the major loan products of the company.

1.1.               Solidarity Group Based Loan (SGBL):- SGBL is a microloan that self organized groups in rural and urban settings are eligible to borrow through group liability. It targets all segments of low income population but mainly women and unemployed youths.

1.2.              Micro and Small Enterprise Loan (MSEL):- MSEL targets higher education institution graduates as well as other unemployed youths or individuals who establish one of business entities such as Cooperatives, Sole proprietorship, Partnership, Share Company and Private Limited Company.

1.3.            Business Loan (BL):- BL is a loan type that offered to individual or group business runners.  The operators need to present matching collateral for their loan request i.e. obviously legal urban house.

1.4.            Women Entrepreneurs Development Program Loan (WEDP):- WEDP loan intends to enhance women owned individual businesses or enterprises through ensuring financial support. The main targets are individual businesses owned by women and of organized women enterprises that are in operation for at least 6 months.

1.5.            General Purpose Loan (GPL):- GPL is a loan product for permanent employees of government and non government organizations that borrowed for any personal affairs through presenting equivalent salary guarantee. 

1.6.            Housing Loan (HL):- This is a housing loan for employees to contribute toward the efforts that have been made by government in reducing the housing problems in towns.  HL is provided to permanent government and non-government employees, police forces and government appointee officials who can present required guarantee or collateral.

1.7.            Interest Free Finance (IFF):- IFF is finance services delivered to clients who don’t want to borrow with interest due to their religion. The service is offered in consistent with Islamic (Sheria) finance principles. OCSSCO provides interest free finance known as Murabaha Financing which is an asset-based sale transaction used to finance goods.

S/L

Product Type

Modality

Maximum Loan Size

Maximum Loan Term

Interest Rate

Service Charge

Collateral/

Guarantee

1.

Rural Solidarity Group Based Loan

In group

15,000 ETB

1 yrs

17 %

3%

Group liability

2.

Urban Solidarity Group Based Loan

In group

15,000 ETB

1 yrs

17 % Decline

3%

Group liability

3.

Micro & Small Enterprise

As business entity

Depends on business plan & collateral

Up to 5 yrs depends on cash flow

13 % Decline

3%

House, Salary, land certificate, vehicle, institutional guarantee

4.

Business Loan

As business entity

Depends on business plan & collateral

Up to 3 yrs depends on cash flow

17 % Decline

3%

Legal Urban House

5.

WEDP Loan

As business entity

Depends on business plan & collateral

Up to 3 yrs depends on cash flow

13 % Decline

3%

Legal Urban House

6.

General Purpose Loan

Individual

Depends on borrower’s salary

2 yrs

17 % Decline

3%

Salary or House  Guarantee

7.

Housing Loan

Individual

Depends on borrower’s salary

5 yrs

17 % Decline

3%

Salary or House  Guarantee

8.

Murabaha MSE Finance

As business entity

Depends on business plan & collateral

Up to 5 yrs depends on cash flow

Markup

NO

Group liability

9.

Murabaha Individual Finance

As business entity

Depends on business plan & collateral

Up to 3 yrs depends on cash flow

Markup

NO

Legal Urban House

10.

Murabaha Group Based Finance

In group

15,000 ETB

1 yrs

Markup

NO

Group liability

 

2.      Saving services: 

OCSSCO has currently seven different saving products identified as Regular, Handhura, Sorema, Coin-box, Wadia Saving Account, Fixed Time Deposit and Current Account.

2.1.            Regular saving

Regular Saving is a non contractual saving that enables savers to withdraw their deposit at anytime they want without any restriction. 

2.2.            Handhura saving

“Handhura” is a saving product that targets parents and other relatives interested to save for their children or children under their guardianship (protection) for future expenditure, school fees, and wealth. In addition to wealth accumulation for future uses, Handhura saving is also used as one of the tools to educate the community including the children about savings and also used to promote saving culture early in their childhood.

2.3.            Wadia Saving Account

Wadia Saving Account a voluntary saving type with that clients who don’t want an interest for religious purposes can deposit their money for the sake of security. It’s deposited and kept separately from conventional system at interest free financial service window. Wadia Saving is subject to withdrawal at anytime. 

2.4.            Sebeta Ayo Saving Account

Sebeta Ayo Saving Account is voluntary saving type that targets only women. It offers special interest (higher than the conventional one) to its clients. The objective is to encourage women saving and investment that believed as ground for family & community empowerment.   

2.5.            Sorema saving

Sorema is a long term contractual saving designed to mobilize savings from the people during their active age and when they are earning more income that to be deposited with special interest returns and to be withdrawn for investment, creating family or own jobs or to cover future planned or unplanned expenditures.

2.6.            Coin-box saving

It is a saving service that will be delivered to any individual who cannot physically appear to OCSSCO branch office to deposit due to the nature of their business. The major targets are loan customers, petty traders, small shop owners, mini cafeterias, taxi drivers and assistant.  OCSSCO rents coin box to customers and help them to deposit at their work place.

2.7.            Fixed Time Deposit

Fixed time deposit is a type of deposit, which is deposited for a certain agreed period of time at pre agreed interest rate that to be paid if only withdrawal is made after the agreed time.

2.8.            Current Account

OCSSCO provides current (checking account) services on which the account owner can order payments to the check bearer. But unlike other checks, the existing OCSSCOs’ check is used only for internal purpose that to be used for cash order transactions that is to be made between OCSSCOs’ branch in which the account is opened and the account owner in the branch.

 

S/L

Product Type

Interest Earned

Minimum Opening Balance

1.

Regular Saving

7%

30+

2.

Handhura /Minor/ Saving

7% - 12%

30+

3.

Sebeta Ayo /Women Saving

8.5%

30+

4.

Sorema /Pension/ Saving

7% - 10%

30+

5.

Wadia Saving

No

10+

6.

Coin-box Saving

7%

30+

7.

Fixed Time Deposit

7.15% - 8%

30,000+

8.

Current Account (Check)

No

1,000+

 

3.      M-Birr Services

OCSSCO provides M-BIRR service which is a mobile money service that allows customers to do financial transactions from the convenience of your mobile phone at anytime from anywhere. This service enables customers to;

tick box

Deposit cash at an agent

tick box

Withdraw cash at an agent

tick box

Transfer money

tick box

Buy mobile top up

tick box

Pay bills

tick box

Buy goods

tick box

Repay loans

tick box

Check balance

tick box

Get a statement

“There is no need to travel or queue. As long as you have money on your account you can transact from the convenience of your phone.”

 

 

4.      Fund Administration Services

OCSSCO administers third part funds. The company and several partners’ with common objectives have been jointly providing of micro credit for different purposes like solar energy, biogas, etc.

 

 

 

Go to top \clip_image002.gif" alt="tick box" width="20" height="23" />

Withdraw cash at an agent

1.      Credit Services:

Company has been offering diversified loan products to its customers. Solidarity group based loan, MSE Loan, Business loan, WDEP Loan, General purpose loan, Business Loan, Housing loan  and Interest Free Finance are the major loan products of the company.

1.1.               Solidarity Group Based Loan (SGBL):- SGBL is a microloan that self organized groups in rural and urban settings are eligible to borrow through group liability. It targets all segments of low income population but mainly women and unemployed youths.

1.2.              Micro and Small Enterprise Loan (MSEL):- MSEL targets higher education institution graduates as well as other unemployed youths or individuals who establish one of business entities such as Cooperatives, Sole proprietorship, Partnership, Share Company and Private Limited Company.

1.3.            Business Loan (BL):- BL is a loan type that offered to individual or group business runners.  The operators need to present matching collateral for their loan request i.e. obviously legal urban house.

1.4.            Women Entrepreneurs Development Program Loan (WEDP):- WEDP loan intends to enhance women owned individual businesses or enterprises through ensuring financial support. The main targets are individual businesses owned by women and of organized women enterprises that are in operation for at least 6 months.

1.5.            General Purpose Loan (GPL):- GPL is a loan product for permanent employees of government and non government organizations that borrowed for any personal affairs through presenting equivalent salary guarantee. 

1.6.            Housing Loan (HL):- This is a housing loan for employees to contribute toward the efforts that have been made by government in reducing the housing problems in towns.  HL is provided to permanent government and non-government employees, police forces and government appointee officials who can present required guarantee or collateral.

1.7.            Interest Free Finance (IFF):- IFF is finance services delivered to clients who don’t want to borrow with interest due to their religion. The service is offered in consistent with Islamic (Sheria) finance principles. OCSSCO provides interest free finance known as Murabaha Financing which is an asset-based sale transaction used to finance goods.

S/L

Product Type

Modality

Maximum Loan Size

Maximum Loan Term

Interest Rate

Service Charge

Collateral/

Guarantee

1.

Rural Solidarity Group Based Loan

In group

15,000 ETB

1 yrs

17 %

3%

Group liability

2.

Urban Solidarity Group Based Loan

In group

15,000 ETB

1 yrs

17 % Decline

3%

Group liability

3.

Micro & Small Enterprise

As business entity

Depends on business plan & collateral

Up to 5 yrs depends on cash flow

13 % Decline

3%

House, Salary, land certificate, vehicle, institutional guarantee

4.

Business Loan

As business entity

Depends on business plan & collateral

Up to 3 yrs depends on cash flow

17 % Decline

3%

Legal Urban House

5.

WEDP Loan

As business entity

Depends on business plan & collateral

Up to 3 yrs depends on cash flow

13 % Decline

3%

Legal Urban House

6.

General Purpose Loan

Individual

Depends on borrower’s salary

2 yrs

17 % Decline

3%

Salary or House  Guarantee

7.

Housing Loan

Individual

Depends on borrower’s salary

5 yrs

17 % Decline

3%

Salary or House  Guarantee

8.

Murabaha MSE Finance

As business entity

Depends on business plan & collateral

Up to 5 yrs depends on cash flow

Markup

NO

Group liability

9.

Murabaha Individual Finance

As business entity

Depends on business plan & collateral

Up to 3 yrs depends on cash flow

Markup

NO

Legal Urban House

10.

Murabaha Group Based Finance

In group

15,000 ETB

1 yrs

Markup

NO

Group liability

 

2.      Saving services: 

OCSSCO has currently seven different saving products identified as Regular, Handhura, Sorema, Coin-box, Wadia Saving Account, Fixed Time Deposit and Current Account.

2.1.            Regular saving

Regular Saving is a non contractual saving that enables savers to withdraw their deposit at anytime they want without any restriction. 

2.2.            Handhura saving

“Handhura” is a saving product that targets parents and other relatives interested to save for their children or children under their guardianship (protection) for future expenditure, school fees, and wealth. In addition to wealth accumulation for future uses, Handhura saving is also used as one of the tools to educate the community including the children about savings and also used to promote saving culture early in their childhood.

2.3.            Wadia Saving Account

Wadia Saving Account a voluntary saving type with that clients who don’t want an interest for religious purposes can deposit their money for the sake of security. It’s deposited and kept separately from conventional system at interest free financial service window. Wadia Saving is subject to withdrawal at anytime. 

2.4.            Sebeta Ayo Saving Account

Sebeta Ayo Saving Account is voluntary saving type that targets only women. It offers special interest (higher than the conventional one) to its clients. The objective is to encourage women saving and investment that believed as ground for family & community empowerment.   

2.5.            Sorema saving

Sorema is a long term contractual saving designed to mobilize savings from the people during their active age and when they are earning more income that to be deposited with special interest returns and to be withdrawn for investment, creating family or own jobs or to cover future planned or unplanned expenditures.

2.6.            Coin-box saving

It is a saving service that will be delivered to any individual who cannot physically appear to OCSSCO branch office to deposit due to the nature of their business. The major targets are loan customers, petty traders, small shop owners, mini cafeterias, taxi drivers and assistant.  OCSSCO rents coin box to customers and help them to deposit at their work place.

2.7.            Fixed Time Deposit

Fixed time deposit is a type of deposit, which is deposited for a certain agreed period of time at pre agreed interest rate that to be paid if only withdrawal is made after the agreed time.

2.8.            Current Account

OCSSCO provides current (checking account) services on which the account owner can order payments to the check bearer. But unlike other checks, the existing OCSSCOs’ check is used only for internal purpose that to be used for cash order transactions that is to be made between OCSSCOs’ branch in which the account is opened and the account owner in the branch.

 

S/L

Product Type

Interest Earned

Minimum Opening Balance

1.

Regular Saving

7%

30+

2.

Handhura /Minor/ Saving

7% - 12%

30+

3.

Sebeta Ayo /Women Saving

8.5%

30+

4.

Sorema /Pension/ Saving

7% - 10%

30+

5.

Wadia Saving

No

10+

6.

Coin-box Saving

7%

30+

7.

Fixed Time Deposit

7.15% - 8%

30,000+

8.

Current Account (Check)

No

1,000+

 

3.      M-Birr Services

OCSSCO provides M-BIRR service which is a mobile money service that allows customers to do financial transactions from the convenience of your mobile phone at anytime from anywhere. This service enables customers to;

tick box

Deposit cash at an agent

tick box

Withdraw cash at an agent

tick box

Transfer money

tick box

Buy mobile top up

tick box

Pay bills

tick box

Buy goods

tick box

Repay loans

tick box

Check balance

tick box

Get a statement

“There is no need to travel or queue. As long as you have money on your account you can transact from the convenience of your phone.”

 

 

4.      Fund Administration Services

OCSSCO administers third part funds. The company and several partners’ with common objectives have been jointly providing of micro credit for different purposes like solar energy, biogas, etc.

 

 

 

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Transfer money

1.      Credit Services:

Company has been offering diversified loan products to its customers. Solidarity group based loan, MSE Loan, Business loan, WDEP Loan, General purpose loan, Business Loan, Housing loan  and Interest Free Finance are the major loan products of the company.

1.1.               Solidarity Group Based Loan (SGBL):- SGBL is a microloan that self organized groups in rural and urban settings are eligible to borrow through group liability. It targets all segments of low income population but mainly women and unemployed youths.

1.2.              Micro and Small Enterprise Loan (MSEL):- MSEL targets higher education institution graduates as well as other unemployed youths or individuals who establish one of business entities such as Cooperatives, Sole proprietorship, Partnership, Share Company and Private Limited Company.

1.3.            Business Loan (BL):- BL is a loan type that offered to individual or group business runners.  The operators need to present matching collateral for their loan request i.e. obviously legal urban house.

1.4.            Women Entrepreneurs Development Program Loan (WEDP):- WEDP loan intends to enhance women owned individual businesses or enterprises through ensuring financial support. The main targets are individual businesses owned by women and of organized women enterprises that are in operation for at least 6 months.

1.5.            General Purpose Loan (GPL):- GPL is a loan product for permanent employees of government and non government organizations that borrowed for any personal affairs through presenting equivalent salary guarantee. 

1.6.            Housing Loan (HL):- This is a housing loan for employees to contribute toward the efforts that have been made by government in reducing the housing problems in towns.  HL is provided to permanent government and non-government employees, police forces and government appointee officials who can present required guarantee or collateral.

1.7.            Interest Free Finance (IFF):- IFF is finance services delivered to clients who don’t want to borrow with interest due to their religion. The service is offered in consistent with Islamic (Sheria) finance principles. OCSSCO provides interest free finance known as Murabaha Financing which is an asset-based sale transaction used to finance goods.

S/L

Product Type

Modality

Maximum Loan Size

Maximum Loan Term

Interest Rate

Service Charge

Collateral/

Guarantee

1.

Rural Solidarity Group Based Loan

In group

15,000 ETB

1 yrs

17 %

3%

Group liability

2.

Urban Solidarity Group Based Loan

In group

15,000 ETB

1 yrs

17 % Decline

3%

Group liability

3.

Micro & Small Enterprise

As business entity

Depends on business plan & collateral

Up to 5 yrs depends on cash flow

13 % Decline

3%

House, Salary, land certificate, vehicle, institutional guarantee

4.

Business Loan

As business entity

Depends on business plan & collateral

Up to 3 yrs depends on cash flow

17 % Decline

3%

Legal Urban House

5.

WEDP Loan

As business entity

Depends on business plan & collateral

Up to 3 yrs depends on cash flow

13 % Decline

3%

Legal Urban House

6.

General Purpose Loan

Individual

Depends on borrower’s salary

2 yrs

17 % Decline

3%

Salary or House  Guarantee

7.

Housing Loan

Individual

Depends on borrower’s salary

5 yrs

17 % Decline

3%

Salary or House  Guarantee

8.

Murabaha MSE Finance

As business entity

Depends on business plan & collateral

Up to 5 yrs depends on cash flow

Markup

NO

Group liability

9.

Murabaha Individual Finance

As business entity

Depends on business plan & collateral

Up to 3 yrs depends on cash flow

Markup

NO

Legal Urban House

10.

Murabaha Group Based Finance

In group

15,000 ETB

1 yrs

Markup

NO

Group liability

 

2.      Saving services: 

OCSSCO has currently seven different saving products identified as Regular, Handhura, Sorema, Coin-box, Wadia Saving Account, Fixed Time Deposit and Current Account.

2.1.            Regular saving

Regular Saving is a non contractual saving that enables savers to withdraw their deposit at anytime they want without any restriction. 

2.2.            Handhura saving

“Handhura” is a saving product that targets parents and other relatives interested to save for their children or children under their guardianship (protection) for future expenditure, school fees, and wealth. In addition to wealth accumulation for future uses, Handhura saving is also used as one of the tools to educate the community including the children about savings and also used to promote saving culture early in their childhood.

2.3.            Wadia Saving Account

Wadia Saving Account a voluntary saving type with that clients who don’t want an interest for religious purposes can deposit their money for the sake of security. It’s deposited and kept separately from conventional system at interest free financial service window. Wadia Saving is subject to withdrawal at anytime. 

2.4.            Sebeta Ayo Saving Account

Sebeta Ayo Saving Account is voluntary saving type that targets only women. It offers special interest (higher than the conventional one) to its clients. The objective is to encourage women saving and investment that believed as ground for family & community empowerment.   

2.5.            Sorema saving

Sorema is a long term contractual saving designed to mobilize savings from the people during their active age and when they are earning more income that to be deposited with special interest returns and to be withdrawn for investment, creating family or own jobs or to cover future planned or unplanned expenditures.

2.6.            Coin-box saving

It is a saving service that will be delivered to any individual who cannot physically appear to OCSSCO branch office to deposit due to the nature of their business. The major targets are loan customers, petty traders, small shop owners, mini cafeterias, taxi drivers and assistant.  OCSSCO rents coin box to customers and help them to deposit at their work place.

2.7.            Fixed Time Deposit

Fixed time deposit is a type of deposit, which is deposited for a certain agreed period of time at pre agreed interest rate that to be paid if only withdrawal is made after the agreed time.

2.8.            Current Account

OCSSCO provides current (checking account) services on which the account owner can order payments to the check bearer. But unlike other checks, the existing OCSSCOs’ check is used only for internal purpose that to be used for cash order transactions that is to be made between OCSSCOs’ branch in which the account is opened and the account owner in the branch.

 

S/L

Product Type

Interest Earned

Minimum Opening Balance

1.

Regular Saving

7%

30+

2.

Handhura /Minor/ Saving

7% - 12%

30+

3.

Sebeta Ayo /Women Saving

8.5%

30+

4.

Sorema /Pension/ Saving

7% - 10%

30+

5.

Wadia Saving

No

10+

6.

Coin-box Saving

7%

30+

7.

Fixed Time Deposit

7.15% - 8%

30,000+

8.

Current Account (Check)

No

1,000+

 

3.      M-Birr Services

OCSSCO provides M-BIRR service which is a mobile money service that allows customers to do financial transactions from the convenience of your mobile phone at anytime from anywhere. This service enables customers to;

tick box

Deposit cash at an agent

tick box

Withdraw cash at an agent

tick box

Transfer money

tick box

Buy mobile top up

tick box

Pay bills

tick box

Buy goods

tick box

Repay loans

tick box

Check balance

tick box

Get a statement

“There is no need to travel or queue. As long as you have money on your account you can transact from the convenience of your phone.”

 

 

4.      Fund Administration Services

OCSSCO administers third part funds. The company and several partners’ with common objectives have been jointly providing of micro credit for different purposes like solar energy, biogas, etc.

 

 

 

Go to top \clip_image002.gif" alt="tick box" width="20" height="23" />

Buy mobile top up

1.      Credit Services:

Company has been offering diversified loan products to its customers. Solidarity group based loan, MSE Loan, Business loan, WDEP Loan, General purpose loan, Business Loan, Housing loan  and Interest Free Finance are the major loan products of the company.

1.1.               Solidarity Group Based Loan (SGBL):- SGBL is a microloan that self organized groups in rural and urban settings are eligible to borrow through group liability. It targets all segments of low income population but mainly women and unemployed youths.

1.2.              Micro and Small Enterprise Loan (MSEL):- MSEL targets higher education institution graduates as well as other unemployed youths or individuals who establish one of business entities such as Cooperatives, Sole proprietorship, Partnership, Share Company and Private Limited Company.

1.3.            Business Loan (BL):- BL is a loan type that offered to individual or group business runners.  The operators need to present matching collateral for their loan request i.e. obviously legal urban house.

1.4.            Women Entrepreneurs Development Program Loan (WEDP):- WEDP loan intends to enhance women owned individual businesses or enterprises through ensuring financial support. The main targets are individual businesses owned by women and of organized women enterprises that are in operation for at least 6 months.

1.5.            General Purpose Loan (GPL):- GPL is a loan product for permanent employees of government and non government organizations that borrowed for any personal affairs through presenting equivalent salary guarantee. 

1.6.            Housing Loan (HL):- This is a housing loan for employees to contribute toward the efforts that have been made by government in reducing the housing problems in towns.  HL is provided to permanent government and non-government employees, police forces and government appointee officials who can present required guarantee or collateral.

1.7.            Interest Free Finance (IFF):- IFF is finance services delivered to clients who don’t want to borrow with interest due to their religion. The service is offered in consistent with Islamic (Sheria) finance principles. OCSSCO provides interest free finance known as Murabaha Financing which is an asset-based sale transaction used to finance goods.

S/L

Product Type

Modality

Maximum Loan Size

Maximum Loan Term

Interest Rate

Service Charge

Collateral/

Guarantee

1.

Rural Solidarity Group Based Loan

In group

15,000 ETB

1 yrs

17 %

3%

Group liability

2.

Urban Solidarity Group Based Loan

In group

15,000 ETB

1 yrs

17 % Decline

3%

Group liability

3.

Micro & Small Enterprise

As business entity

Depends on business plan & collateral

Up to 5 yrs depends on cash flow

13 % Decline

3%

House, Salary, land certificate, vehicle, institutional guarantee

4.

Business Loan

As business entity

Depends on business plan & collateral

Up to 3 yrs depends on cash flow

17 % Decline

3%

Legal Urban House

5.

WEDP Loan

As business entity

Depends on business plan & collateral

Up to 3 yrs depends on cash flow

13 % Decline

3%

Legal Urban House

6.

General Purpose Loan

Individual

Depends on borrower’s salary

2 yrs

17 % Decline

3%

Salary or House  Guarantee

7.

Housing Loan

Individual

Depends on borrower’s salary

5 yrs

17 % Decline

3%

Salary or House  Guarantee

8.

Murabaha MSE Finance

As business entity

Depends on business plan & collateral

Up to 5 yrs depends on cash flow

Markup

NO

Group liability

9.

Murabaha Individual Finance

As business entity

Depends on business plan & collateral

Up to 3 yrs depends on cash flow

Markup

NO

Legal Urban House

10.

Murabaha Group Based Finance

In group

15,000 ETB

1 yrs

Markup

NO

Group liability

 

2.      Saving services: 

OCSSCO has currently seven different saving products identified as Regular, Handhura, Sorema, Coin-box, Wadia Saving Account, Fixed Time Deposit and Current Account.

2.1.            Regular saving

Regular Saving is a non contractual saving that enables savers to withdraw their deposit at anytime they want without any restriction. 

2.2.            Handhura saving

“Handhura” is a saving product that targets parents and other relatives interested to save for their children or children under their guardianship (protection) for future expenditure, school fees, and wealth. In addition to wealth accumulation for future uses, Handhura saving is also used as one of the tools to educate the community including the children about savings and also used to promote saving culture early in their childhood.

2.3.            Wadia Saving Account

Wadia Saving Account a voluntary saving type with that clients who don’t want an interest for religious purposes can deposit their money for the sake of security. It’s deposited and kept separately from conventional system at interest free financial service window. Wadia Saving is subject to withdrawal at anytime. 

2.4.            Sebeta Ayo Saving Account

Sebeta Ayo Saving Account is voluntary saving type that targets only women. It offers special interest (higher than the conventional one) to its clients. The objective is to encourage women saving and investment that believed as ground for family & community empowerment.   

2.5.            Sorema saving

Sorema is a long term contractual saving designed to mobilize savings from the people during their active age and when they are earning more income that to be deposited with special interest returns and to be withdrawn for investment, creating family or own jobs or to cover future planned or unplanned expenditures.

2.6.            Coin-box saving

It is a saving service that will be delivered to any individual who cannot physically appear to OCSSCO branch office to deposit due to the nature of their business. The major targets are loan customers, petty traders, small shop owners, mini cafeterias, taxi drivers and assistant.  OCSSCO rents coin box to customers and help them to deposit at their work place.

2.7.            Fixed Time Deposit

Fixed time deposit is a type of deposit, which is deposited for a certain agreed period of time at pre agreed interest rate that to be paid if only withdrawal is made after the agreed time.

2.8.            Current Account

OCSSCO provides current (checking account) services on which the account owner can order payments to the check bearer. But unlike other checks, the existing OCSSCOs’ check is used only for internal purpose that to be used for cash order transactions that is to be made between OCSSCOs’ branch in which the account is opened and the account owner in the branch.

 

S/L

Product Type

Interest Earned

Minimum Opening Balance

1.

Regular Saving

7%

30+

2.

Handhura /Minor/ Saving

7% - 12%

30+

3.

Sebeta Ayo /Women Saving

8.5%

30+

4.

Sorema /Pension/ Saving

7% - 10%

30+

5.

Wadia Saving

No

10+

6.

Coin-box Saving

7%

30+

7.

Fixed Time Deposit

7.15% - 8%

30,000+

8.

Current Account (Check)

No

1,000+

 

3.      M-Birr Services

OCSSCO provides M-BIRR service which is a mobile money service that allows customers to do financial transactions from the convenience of your mobile phone at anytime from anywhere. This service enables customers to;

tick box

Deposit cash at an agent

tick box

Withdraw cash at an agent

tick box

Transfer money

tick box

Buy mobile top up

tick box

Pay bills

tick box

Buy goods

tick box

Repay loans

tick box

Check balance

tick box

Get a statement

“There is no need to travel or queue. As long as you have money on your account you can transact from the convenience of your phone.”

 

 

4.      Fund Administration Services

OCSSCO administers third part funds. The company and several partners’ with common objectives have been jointly providing of micro credit for different purposes like solar energy, biogas, etc.

 

 

 

Go to top \clip_image002.gif" alt="tick box" width="20" height="23" />

Pay bills

1.      Credit Services:

Company has been offering diversified loan products to its customers. Solidarity group based loan, MSE Loan, Business loan, WDEP Loan, General purpose loan, Business Loan, Housing loan  and Interest Free Finance are the major loan products of the company.

1.1.               Solidarity Group Based Loan (SGBL):- SGBL is a microloan that self organized groups in rural and urban settings are eligible to borrow through group liability. It targets all segments of low income population but mainly women and unemployed youths.

1.2.              Micro and Small Enterprise Loan (MSEL):- MSEL targets higher education institution graduates as well as other unemployed youths or individuals who establish one of business entities such as Cooperatives, Sole proprietorship, Partnership, Share Company and Private Limited Company.

1.3.            Business Loan (BL):- BL is a loan type that offered to individual or group business runners.  The operators need to present matching collateral for their loan request i.e. obviously legal urban house.

1.4.            Women Entrepreneurs Development Program Loan (WEDP):- WEDP loan intends to enhance women owned individual businesses or enterprises through ensuring financial support. The main targets are individual businesses owned by women and of organized women enterprises that are in operation for at least 6 months.

1.5.            General Purpose Loan (GPL):- GPL is a loan product for permanent employees of government and non government organizations that borrowed for any personal affairs through presenting equivalent salary guarantee. 

1.6.            Housing Loan (HL):- This is a housing loan for employees to contribute toward the efforts that have been made by government in reducing the housing problems in towns.  HL is provided to permanent government and non-government employees, police forces and government appointee officials who can present required guarantee or collateral.

1.7.            Interest Free Finance (IFF):- IFF is finance services delivered to clients who don’t want to borrow with interest due to their religion. The service is offered in consistent with Islamic (Sheria) finance principles. OCSSCO provides interest free finance known as Murabaha Financing which is an asset-based sale transaction used to finance goods.

S/L

Product Type

Modality

Maximum Loan Size