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.

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

* W.E.F 01.07.2017 GST on Forex conversions are being 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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General Terms&Conditions -Term Deposit A/c

1. The Term Deposit Advices are not transferable, non-negotiable and not assignable.
2. The depositor is requested to always quote the reference/contract number for all the related correspondence.
3. Interest on deposit ceases on the maturity date.
4. Premature payment may be permitted by the Bank on terms and conditions including penalties, in force and as per the guidelines of Reserve Bank of India.
5. Renewal / Payment instructions must be given in writing. Original Letter must reach BBK, Mumbai / Hyderabad office on or prior to the date of maturity. Instructions through fax, e-mail will be acted upon, only if the customer has executed an indemnity in the Bank?s format.
6. Deposits will be renewed at maturity for a similar term at the ruling rate of interest if no renewal / payment instructions are received prior to maturity date.
7. Deposit rates are subject to directives of the Reserve Bank of India issued from time to time.
8. It is the depositor?s responsibility to advise the Bank of change in non-resident status.
9. FDR Deposits of INR 15 lakhs and above, the interest rates will be quoted by treasury on daily basis including the bucket of 7-14 days.
10. Penalty of 1% on all resident/NRO deposits will be levied if the deposit is withdrawn prematurely.
11. No interest will be payable if the resident/NRO FD is prematurely withdrawn before 30 days.
12. 1% penalty on NRO FD if prematurely withdrawn after 30 days.
13. Resident senior citizens will be paid an additional 0.5% interest on their deposits.
14. 1% penalty on NRE FD if prematurely withdrawn after 1 year.
15. No interest will be payable if the NRE FD is prematurely withdrawn before 1 year.
16. 1% penalty plus swap cost of FCNR (B) deposits for premature withdrawal. (Swap cost applicable only for deposits above USD 30,000/-).
17. No interest is payable on premature closure of FCNR deposit within a period of 1 year.

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