BANK OF BAHRAIN AND KUWAIT B.S.C

NRI
Outward Remittances
Facilities for Returning Indians
Investment Schemes for NRI's
Tax Benefits for NRI's
Opening of NRI Account
Deposit accounts NRE / NRO
Foreign currency deposits FCNR
Portfolio Investment Scheme
NRE Term Deposits
NRO Term Deposits
RFC a/c

ANNOUNCEMENTS

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

*Banking Facilities for Senior Citizens and Differently abled Persons.

*IMPORTANT: Dear Sir/Madam, Please submit a self-attested copy of your Aadhar card at the earliest (but before March 31, 2018) to your branch to link it your Bank account.

* 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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Foreign Currency Non-Resident Deposit Accounts

FCNR (B) (Principal/Interest Repatriable)

The account can be opened by Individual NRIs, jointly with another NRI, Foreign Nationals of Indian origin and OCBs. These accounts are of term deposit nature available in fixed terms of 1 year to 5 years period. Presently the deposits are accepted in 5 major currencies viz the US Dollar, EURO, Great Britain pounds, Japanese Yen and AUD.

The maturity proceeds are totally repatriable.

The account opening application form can be downloaded from our website and is also available at our NRI desks at Bahrain / Kuwait / Dubai / Mumbai / Hyderabad / Aluva & New Delhi. The completed form alongwith the support documents as listed here under may submitted at any of our counters.

The accounts can be opened by remittances from abroad or by transfer of funds from the existing NRE/FCNR accounts. It can also be opened by tendering Foreign currency or Travellers cheque during the temporary visit to India.

FEATURES & BENEFITS :

  • Specific request on forward cover upto the maturity of the deposit can be made to us to mitigate the risk of foreign currency fluctuations.
  • Freely repatriable.
  • Loans / overdraft can be availed by the depositor against pledge of this deposit.

Premature Closure Conditions:

Effective(6th-Sep-2013) Upto 3 Years 3 Years and Above
Deposit prematurely withdrawn within 1 year No Interest Payable if prematurely withdrawn within a year No Withdrawal is permitted within 1 Year
Penalty (Deductible from the proceeds) 1% 1% in case withdrawn after 1 year.
Swap Cost in case of premature withdrawal. Applicable only for deposits over USD.30,000/- Applicable on all deposits irrespective of amount of deposit. Shall be recovered from the proceeds.
Other Condition
Auto Rollover Available Not Available

NOMINATION:

  • Nomination facility available for bank deposits.
  • There can be only one Nominee for a deposit account whether held singly or jointly.
  • The nomination details can be changed during the subsistence of the account relationship by filling up the prescribed form.
  • For more details Contact BBK Branches.

ELIGIBILITY & OPERATIONS:

  • Non-Resident Indians (sole or jointly with another Non-resident / Resident Indian).

SUPPORT DOCUMENTATION ON PROOF OF IDENTITY AND ADDRESS:

Along with the account opening form application, self attested copies of following be forwarded to complete the formalities as per the central bank ( viz Reserve Bank of India ) Know your customer guidelines:

  • PAN Card.
  • Valid Passport ( Copies of pages having the photograph. Siganature, Address, Date of birth, Visa endorsement and place of issue and expiry ).
  • Original Letter from Employer certifying the residential address of applicant. Signature of the employee has to be attested on the letter.
  • Employee Identity Card.

Note : Mandatory to provide Permanent address and telephone number.

FEES & CHARGES FOR SAVING ACCOUNT:

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