Tajaajila liqii fayyadama adda addaaf oolu Diyaaspooraawwa Itoophiyaatiif

Requirements of Consumer Loan for Ethiopian Diaspora

Consumer loan for Ethiopian Diaspora is among Awash Bank’s products devised to address Ethiopian Diaspora Community interests. Loans both under Conventional and Interest Free Banking (IFB) Schemes have the following purposes.

  • For purchase, construction and renovation of residential house/commercial building
  • For purchase of brand new/used car
  • Personal Loan
  • Investment Loan


The interest rates for conventional loans and the profit rate for financing under IFB schemes will depend on the modality of equity contribution and the currency in which repayment of the loan will be made. If both the equity contribution and the periodic repayments are made in foreign currency, the interest rate/profit rate will be relatively lower.

Documents Required to Be Fulfilled by Ethiopian Diasporas

  1. The applicant shall open Diaspora Saving/Current Account beforehand and his/her equity contribution
  2. Loan application Letter. The letter shall indicate the amount of loan requested, duration, repayment frequency, collateral offered, purpose of the loan source of repayment and so forth. The bank will serve the standard application form.
  3. Copy of passport.
  4. Permanent residence permit (Mandatory only for those Ethiopians who live abroad but having Ethiopian Passport).
  5. Approved plan and title deed certificate of the house to be purchased or constructed.
  6. Copy of lease agreement and payment receipt (if the plot is lease hold).
  7. Employment letter showing annual gross and net income from employer.
  8. Copy of employment contract, if applicable.
  9. Tax return statement.
  10. Bank account statement at least of 6-12 months
  11. Certificate of material status
  12. If the applicant is business person, he/she shall present.
  • Financial statement for at least three years.
  • Renewed Trade License
  • Trade Registration Certificate
  • Tax payment certificate
  1. An agreement concluded with the real estate developer or the seller of the building
  2. Performa invoice in the case of automobile loans.
  3. If the loan is for the purchase/construction of a residential or commercial building, the borrower shall at least cover 15% of the cost as an equity contribution.
  1. If the purpose of the loan is for an investment project, the borrower shall at least cover 20% of the total cost of the project as equity contribution.
  2. The applicant shall raise the equity contribution, or periodic repayments or both in foreign currency.
  3. For project (investment)loans:
  • Feasibility study
  • BOQ (Bill of quantity) of the civil work
  • Valid construction work permit
  • Performa invoice of machinery and equipment to be purchased
  1. Power of Attorney for loans to be requested by an agent. If the buyer is married, a power of attorney shall be given by the couple.
  2. Other documents as deemed necessary.

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