Savings Bank Accounts help
individuals, house-wives and others in inculcating a habit of thrift in them.
The holders of these accounts shall get various banking facilities from bank
while earning some interest on their savings. The salient features of Savings
Bank Accounts are as under:
Who can open?
Individuals
Requirements:
Individuals: The formalities for
opening of accounts by individuals are the same as listed under Savings Bank
Accounts Others:
- Address proof by taking taskara
- Identification proof like passport, voter identity card, identity cards issued by employer.
- Introduction of existing account holder
- Latest photograph
Schedule of Charges:
1. If the balance of account
goes below USD 20 or its equivalent during any month bank will deduct penalty
as approved by banks management.
2. On the closure of account
USD 10 will be charged towards cost of identity card account, but after 3
months bank will not deduct USD10 for the purpose of closing account.
3. Cheque book of 25 leaves
shall be issued free for the first time and subsequent issue shall be charged
at $10.
Minimum Amount:
1. The minimum initial
deposits should be USD 20 or its equivalent to other currencies.
2. If the balance of account
goes below USD 20 or its equivalent to other currencies bank will deduct
penalty as approved by bank’s management. Penalty of minimum balance is not
applicable to staff accounts and salary accounts maintained by employees of
different organizations.
3. The customer will be issued
an identity card and he has to produce the same to the bank for taking cash
payment from his account.
4. Interest will be payable
once in six months. The interest will be calculated on monthly basis on the
minimum balance between 10th of the month and last day of the month.
5. Letter of thanks will be
sent to account opener and introducer.
6. The account holder will be
provided unique user ID and secured password to view his account through our
internet facility at a later date to be communicated to him/her. The customer
can take print of account statement by using the facility.
Maximum Amount
No Maximum limit
Rate of Interest:
1. Savings Account AFN: 1.5 per
annum
2. Savings Account USD, Euro,
GBP: 1 per annum
Other Features:
- · Bank sends statements of accounts at monthly intervals.
- · Local and outstation cheques are accepted for realization.
- · Service charges are recovered for cheques returned unpaid.
- · Amount can be withdrawn in cash from bank by cheque or withdrawal forms accompanied by ID Card.
- · A maximum of 10 withdrawals are allowed per month in this account. A fee shall be charged on any extra withdrawal over 10.
- · Payment of cheques can be stopped by the holder(s) of the account.
- · No operation in the account for 12 months makes an account 'Dormant'/'Inoperative'.
- · Bank shall offer various other facilities/services with these accounts like ATM cards, ATM-cum-Debit cards, Credit cards, Online or Internet banking etc. in very near future.
- · Standing instructions are accepted by bank in these accounts, subject to payment of stipulated charges.
- · Service charges are subject to change from time to time.
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