1. The Agreement
i. This Agreement sets out the complete Terms and Conditions (hereinafter called " These Terms and Conditions") which shall be applicable to Awash saving Service.
ii. 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

• "Ordinary Saving Service" means a financial service that enables telebirr customers to securely save money using telebirr SuperApp and *127# which enables customers to earn interest on the stored value.
• "Locked Saving Service" means a fixed Saving account that allows customers to lock a specific amount of money for a specified period of time.
• "Customer" means an individual in whose name the Saving service with telebirr account is exist.
• "You" or "your" means the individual customer and includes the personal representatives of the individual;
• "We," "our," and "us," means Awash bank and Ethio telecom;
• "E-Money" means the electronic monetary value depicted in customers telebirr Account representing an equal amount of cash.
• "Saving Interest," means the amount calculated, accrued, and paid to tele birr customers based on the daily balance of customer's Saving deposit.
• "Principal amount" means the amount of money initially deposited by customers.

3.Acceptance of the Terms and Conditions

• Before applying to use Saving service, you should carefully read and understand these Terms and Conditions which will govern the use and operation of Saving service.
• 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 Saving Service
• Ethio telecom may alter or vary these Terms and Conditions at any time, and such amendments or variations take effect on the day of publication.
• From the time, it is accepted electronically, these terms and conditions become a legally binding agreement between you and us. You are not allowed to transfer any of your rights or obligations under this agreement to anyone else.
• You acknowledge and accept the Sinq service only electronically and you agree to do business with Ethio telecom and to operate the Sinq service only by electronic means via telebirr system.

4. Activation for Awash saving Service

• To activate Sinq Service with Ethio telecom, you must be at least:
  • 18-year-old and Above
  • Have an Ethio telecom active SIM card
  • telebirr age three month
  • You can use USSD (*127#) or telebirr Superapp to activate the service.
  • You will receive a notification for successful activation.
  • Once activated for Sinq Service, you shall make deposits into Sinq or withdraw from Sinq account using your phone.
  • To get interest with ordinary Sinq, customers should deposit more than Birr 26.

5.Types of Awash Saving Services
5.1.Customers can perform saving in two ways: Interest bearing (with interest) and non-interest-bearing accounts (without interest); and the customers can save and withdraw on demand.
5.2.There will be 3 types of deposit:

1. On-demand saving: customers can save any amount at any time and can withdraw anytime. The interest fee is 7.15 % per year (0.596% per month) which can be updated based on business needs with both parties ‘written agreement.
2. Fixed time saving: Customers can save a specific amount for a defined period i.e.; customers can not withdraw before the defined period but if customer withdraw before the maturity period, the interest rate will be change to 7%.
   • Interest fee 7.5 % per year for 3 months saving,
   • Interest fee 7.75 % per year for 6 months saving,
   • Interest fee 8 % per year for 9 months saving and
   • Interest fee 8.5 % per year for 12 months saving.
   • For fixed time saving, Customers are expected to save Birr 30,000 and above which can be updated based on business needs with both parties’ written agreement.
3. Non-interest-Bearing saving: customers can save any amount at any time and can withdraw anytime with no interest fee.

6. Governing Law
The laws of the Federal Democratic Republic of Ethiopia, the directives of the National Bank of Ethiopia, as well as the relevant procedures of the Awash and Ethio telecom shall govern these Terms and Conditions.

7. Queries
For any question related to services, process, terms & conditions of individual micro credit service, you can get through telebirr Customer contact Centre (by dialing 127).

8. Termination
We shall be entitled to suspend or terminate this agreement wholly or partially due to your abuse, misuse, or fraud of any of the Sinq and loan services with or without prior notice to you. Any termination of this contract in completely or in part may not affect any accrued rights and obligations of either party.

9. Complaints
Complaints may be made in person, in writing, by post, fax, email or by telephone. Ethio telecom will take all measures within its means to resolve your complaints within a reasonable time. If You are dissatisfied with the response, you can escalate the matter to Awash and National Bank of Ethiopia sequentially.

10. Dispute Resolution
Any dispute arising out of or in connection with this Agreement that is not resolved as per Clause 11 above shall be referred to Federal court of Ethiopia with jurisdiction.

11. Disclaimer
Your PIN must be kept secret and not accessible to anyone other than you. The consequences of disclosing the PIN, unauthorized use of the telebirr account, cell phone, or SIM card, failing to report loss or theft, or not regularly changing your pin are solely your responsibility.