BANK OF BAHRAIN AND KUWAIT B.S.C

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ANNOUNCEMENTS

* Please click here for Revised service charges w.e.f.01.02.2018.

*Banking Facilities for Senior Citizens and Differently abled Persons.

*Dear Customers, Effective 27th Mar 2018 our Hyderabad Branch will function from the Bank's own spacious premises at :Ground Floor, 6-3-252/1/3 & 6-3-252/1/3/A, ERRAMANZIL, HYDERABAD - 500 082.Contact nos remain same.

* W.E.F 01.07.2017 Bank will collect GST @18% on applicable commission/service charges in lieu of service tax @15%.

* W.E.F 01.07.2017 GST on Forex conversions will be collected. Click here for rates.

* Please click here for current MCLR rates.

* Please click here for current interest rates on deposits.

* Details of Unclaimed Deposits. Please click here.

* FREE OF CHARGE unlimited usage of BBK ATM cards in other Banks’ ATMs.BBK ATM cards can be used in all ATMs of NPCI member Banks network. Click here for details.

*Safe Deposit Lockers facility available at our Hyderabad, Aluva & New Delhi branches. Please contact branch for details.

* Interest on all types of Savings Deposit shall be credited at quarterly intervals on the last working day of March, June, September and December.

* As per Income Tax rules, applicable TDS on deposit account is deductible on accrued interest. TDS so deducted is non-refundable.

* Customers are advised to register their mandates for payment before maturity on joint deposits held on "Either or Survivor" or "Former or Survivor" basis.

* Customers are advised to issue CTS compliant cheques only.

* BBK presently does not have any 3rd Party Agents/DSAs. The marketing & processing of all products are done through its branches, by the bank staff.

* Rupee Floating Loans/ Credit limits shall now be priced at MCLR effective 01/04/2016"click here for details

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Deceased Accounts

Settlement of dues in Deceased Deposit Account :

If the depositor has registered nomination with the bank, the balance outstanding in the account of the deceased depositor will be paid to the nominee after the bank is satisfied about the identity of the nominee, etc.

The above procedure will be followed even in respect of a joint Account where nomination is registered with the bank.

In a Joint Deposit Account, when one of the Joint Account Holders passes away, the bank is required to make payment jointly to the legal heirs of the deceased person and the surviving depositor(s). However, if the Joint Account holders had given mandate for disposal of the balance in the account in the forms such as \"either or survivor, former / latter or survivor, anyone of survivors or survivor, etc.,\" the payment will be made as per the mandate to avoid delays in production of legal papers by the heirs of the deceased.

In the absence of nomination and when there are no disputes among the claimants, the bank will pay the amount outstanding in the account of the deceased person against joint application and indemnity by all legal heirs or the person mandated by the legal heirs to receive the payment on their behalf without insisting on legal documents up to the limit approved by the Bank\'s board. This is to ensure that the common depositors are not put to hardship on account of delays in completing legal formalities.

Interest Payable on Term Deposit in Deceased Account :

In the event of death of the depositor before the date of maturity of deposit and amount of the deposit is claimed after the date of maturity, the bank shall pay interest at the contracted rate till the date of maturity. From the date of maturity to the date of payment, the bank shall pay simple interest at the applicable rate obtaining on the date of maturity, for the period for which the deposit remained with the bank beyond the date of maturity; as per the Bank\'s policy in this regard.

However, in the case of death of the depositor after the date of maturity of the deposit, the bank shall pay interest at Savings Deposit rate (as on the date of maturity) from the date of maturity till the date of payment.

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