• Saving accounts in Nakfa,US Dollar & Euro.
  • USD Denominated Certificate of deposit (CD)
  • Current Accounts in Nakfa,US Dollar & Euro for Individuals & Business Enterprises


  • Long & medium term loans for the construction of dwelling houses, business various types of long and medium term loan for construction of buildings, stores, community centers etc.
  • Loans for purposes of purchase of existing building & homes repairs, maintenance, modifications & extension.
  • Commercial, consumer & personal loans for business people & earners

Other services

Remittance* Dollar buying* Local Transfers* letter of credit* Advance payment Guarantee* Bid bonds* Program of large scale Housing Construction by the bank for sale to the public

Terms & conditions governing saving accounts opened in Foreign Currency

1. Saving account may be opened in foreign currency (US $) or (EUR) on personal application with an initial deposit of USD 100.00. Subsequent deposit can be made in cash, by cheque and transfer payments.

2. Withdrawals can be made upon the presentation of the passbook (or by specific authorization if outside Eritrea).

3. In the event cash deposits or withdrawals are made, the passbook must be handed to the cashier or validated by the teller's machine of the Bank. (Outside Eritrea this may be done according to set regulations given to the agent of the bank)

4. Interest on each US dollar will be calculated in the minimum monthly credit balance in excess of US $ 100.00 standing between the first and the last day of each month and shall be credited to the savings account during June and December each year. The period of calculating interest will be from first December up to and including 31st of May of the succeeding year for the first half year and from first June up to & including 30th of November of the same year for the second half year.

5. No interest will be paid on saving deposit accounts closed before the lapse of 90 days after the date of opening.

6. For withdrawals of over US$50,000.00 the Bank requires prior notice of at least 3 working days.


HCBE offers dollar denominated certificates of deposit (CD) in the amount US$1000.00 or over. The purchase of these CD’s strengthens the foreign currency holding of Eritrea while offering you adequate interest income and guaranteed repayment on maturity. Purchase can effect the transaction either by coming in person to the bank or by instruction their banks, to make transfer or by contacting our exchange agent in their locality if available.

a) Renewal of CD's for further period after maturity is possible at prevailing rates of interest at the time of renewal. Owners of CD's who need to retire them before maturity date will forfeit the accumulated interest income.
b) Interest income earned on CD's can either be incorporated into the principal or may be taken out by purchaser for other purposes. Customers should officially inform the Bank their choice at the time of purchase.
c) Current rates of interest on CDs as per their amount and duration are effective as from October 1, 1998.These rates are subject to change by HCBE only on new purchase as per market conditions.
d) On maturity depositors are able to their CDs plus interest on the spot.
The HCBE also offers CDs denominated in Nakfa with the same provisions as with different rates for individuals and corporate bodies


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