The Commercial Bank of Ethiopia (CBE), is to introduce three new categories of savings accounts, Fortune reported.

The latest class of saving accounts are categorized by age and gender, offers higher interest rates and other incentives.

These accounts which will be launched this month, will cover teens between the age of 14 and 17, youths between 18 and 24 and women, according to Ephrem Mekuria, communications manager at the Bank.

Account holders under this categories will be entitled to a higher interest rates and reduced money transfer rates.

The women’s savings account does not have an age limit.

“We support women by creating market links with big trading companies that work with us and by promoting their services and products,” Ephrem said.

Established in 1942, the state-owned CBE is Ethiopia's largest bank with 730 branches and 6.8 million account holders.

Source: Fortune