BANK OF BAHRAIN AND KUWAIT B.S.C

SAVINGS ACCOUNT:

Any person approved by the Bank may open a Savings Account in his / her name. Joint accounts may be opened, but accounts in the name of minors and Institutions will only be opened by special arrangement.

The minimum amount with which an account may be opened is INR.1000/- in case of normal Savings Bank Account. If the balance falls below INR.1000/- , a service charge of INR.100/- p.m. will be levied. However, no minimum balance is not required for Savings Bank Account opened under ‘Salary’ accounts and ‘ No –frilled’ Account.

Deposits may be made as frequently as desired.

Rate of interest @ 3.5% p.a. will be paid on balances held in Savings Bank Accounts (subject to changes from time to time as per RBI directives) and will be calculated on the minimum balance of an account during the period from the tenth to the last day of the month. Interest earned will be credited to the account half yearly in March and September.

Sixty withdrawals are permitted every year in a Savings Account. Where withdrawals are more, incidental charges would be levied @ INR.10/- per excess withdrawal.

Withdrawals must be made on withdrawal forms or cheques provided by the Bank.

If an account remains unoperated continuously for more than one year it will be transferred to dormant account.

In the case of cheque-operated accounts withdrawals are accounts withdrawals are allowed on the cheque forms supplied by the Bank. The Bank reserves its right to refuse payment of any cheque drawn otherwise. Cheque book will normally be issued to a depositor against an application signed by him / her on the Bank’s requisition slip from the cheque book for his / her use, provided the conduct is satisfactory. The Bank reserves the right to refuse to issue of cheque books to an account holder for its own business.

The Bank is at liberty to refuse payment of cheques that have been altered in any way unless the alteration is authorized by the drawer under his / her signature. Cheques should be drawn in such a manner so as to prevent alteration after the issue and the drawer’s signature should be uniform and match with that on Bank’s records. It is essential that the cheque book be kept in safe place to avoid theft / misuse.

The Bank will register instructions from the drawer regarding cheques lost, stolen, etc., but cannot guarantee depositors against loss in such case in the event of such a cheque being paid.

The Bank reserves the right to alter / add to these rules at any time without notice. Any person opening an account shall be bound by the rules governing this account.

CURRENT ACCOUNT :

These terms and conditions apply to and regulate the operations of the Current Account by BBK in addition to any other terms as stipulated by the Bank from time to time.

1. Account Opening :

The account opening formalities are governed by the policies of the Bank and may be revised from time to time. It may require customer/s to submit duly filled account opening form (AOF) along with the prescribed set of documents stipulated including Permanent Account Number (PAN) or Form 60/61, to the satisfaction of the Bank.

2. Operating Accounts :

All the Current Accounts shall be operated by the authorised signatory/ies either singly/jointly as may be specified in the AOF.

Any change in operational instructions or any other information with regard to the AOF, in case of joint accounts is to be given by all the joint account holders and in case of Current Accounts is to be given by the Customer in writing with satisfactory evidence clearly mentioning the name of the authorised signatory/ies on behalf of the Customer, irrespective of the mode of operation.

The Customer shall open the Account with a minimum average balance as prescribed by the Bank from time to time. The Customer shall be responsible for maintaining a minimum average balance as prescribed. Failure to maintain the prescribed average balance will attract service charges and such charges may be deducted by the Bank from the Customer's Account.

The Customer/s is/are expected to provide PAN/GIR No. or Form 60/61 or any other document as may be prescribed by tax authorities from time to time for opening the Account, acceptance of cash deposits etc. in accordance with the provisions of f the Income Tax Rules, 1962 and compliance thereof.

3. Statement of Account :

The Bank may send through courier or post at such intervals as the Bank may deem fit to the mailing address furnished by the Customer, statements of account, balance confirmation certificate, cheque books, , various PIN mailers and such other items relevant or pertaining to the Account. The Statement of Accounts for each Account shall be issued & charged on a frequency as determined by the Bank for each Account. It is incumbent upon the Customer to intimate change in mailing address, if any, immediately along with requisite proof of address. The Bank shall not be responsible for any loss, damage or consequences for wrong delivery of the above items arising out of non-intimation of change in mailing address.

The Customer/s is/are expected to examine the entries in the Account statement upon receipt, and draw the attention of the Bank if any irregularities, discrepancies, errors or omissions that might be discovered within seven (7) days from the date of receipt of Account statement/updation of passbook. The Bank shall not be responsible nor liable for any loss arising out of failure on the part of the Customer to (a) carry out examination of entries in the passbook/statement and/or If the Bank does not receive any intimation to the contrary within seven (7) days, the Bank may assume that the statement/updation is correct and the same shall be deemed to be accepted by the customer. The Bank also reserves the right to rectify discrepancies in the statement of Account, if any, at any point of time.

The Bank shall not be responsible for statements lost in mail/post. The Customer should contact the Bank promptly if the Statement is not received and ask for duplicate statements, if required. Duplicate statements are issued at the request of the Customer on payment of a prescribed fee.

With the approval or at the request of the Customer, statement of Account may be sent to the Customer's e-mail address. Customers are required to verify the authenticity of the emails received by them and the Bank shall not be liable in the event if any statements are received by the Customer's from fraudulent persons / imposters. The Bank shall not be liable in the event of any defects or failure in the computer system / network of the Customer on account of receipt of email/s by the Customer from the Bank.

4. Safe Keep of Debit Card, Passwords and Cheque Book :

The Customer shall be solely responsible for the safe-keeping and the confidentiality of the statements of account, balance confirmation certificate, cheque books, ATM card and its PIN, user id and passwords relating to internet banking and such other items relevant or pertaining to the Account.

5. Conduct of Account:

Transactions are entertained normally during banking hours at the branch where the Account is maintained or at any other Bank Branches under Core Banking. The Bank shall not be liable for any delay on any account of failure of connectivity.

Standing instructions are accepted free of charge for transferring funds from Account to Fixed deposit or Recurring deposit accounts. Other standing instructions are subject to service charges.

The Bank in its sole discretion may restrict the number of withdrawals in the Account.

6. Dormant Account:

The Bank may classify an Account as Inactive/Dormant, if there are no customer-induced transactions for 12 months. Customer induced transactions shall mean any credit or debit transactions done by a Customer in his/her/its Account through the following modes :

1. Transactions through cheque.
2. Cash or cheque deposit.
3. Withdrawal or deposit through ATM.
4. Transaction by standing instruction & ECS.

The Bank may in its sole discretion deny Services and/ or transaction in the Account of a Customer, which has been classified as inactive or dormant.

7. Charges / Fees :

Charges in connection with the operation of the Account and the Services would be temporarily levied at the rates as are applicable at the relevant point of time . The Charges/Fees are subject to amendment or modification from time to time and the customer is bound to abide by the prescribed Charges/Fees as may be made applicable by the Bank in its sole discretion. Charges will be debited to the Account at such intervals as may be deemed fit by the Bank.

Any action of the Bank in amending, altering, modifying or canceling the fees shall not be treated as accrual of any right whatsoever to claim the applicability of same rate of charges/fees for future transactions. The rates of Charges/Fees are not fixed, but are temporary in their nature and subject to withdrawal or variation by the Bank from time to time.

The Bank will also have the right to set-off the service charges, charges for non-maintenance of QAB or any wrong credit or late cheque returns reported by the correspondent bank/counter party by debiting the Account, without requirement of providing further notice or seeking additional consent/authorisation. The cheque so returned shall be sent to the Customer at the last known address as per the Bank’s records.

The Customer agrees and confirms that in the event any of the Services in connection with the Account are/become liable to tax under the applicable laws and regulations, the Customer shall bear all the taxes or duties (by whatever name called) in connection with such Services and the Bank is hereby authorised to deduct any such amount from the Account, without requirement of providing further notice or seeking additional consent/authorisation.In the event of occurrence of any of the above events, the Customer shall receive balance amounts, net of all deductions made as per the terms and conditions hereof. The Customer shall be intimated at the last address provided by the Customer to collect all such amounts, from the Bank. In case the Customer does not collect the amounts within the time period stipulated by the Bank in the communication sent to him / her as above, then the Bank shall send the amounts at the last known address of the Customer and will not be liable for any reason whatsoever in case of non-receipt of such amount/s by the Customer or any losses or damages incurred by the Customer as a consequence thereof.

8. Death or Incompetence or Insolvency:

The Customer agrees to notify the Bank promptly if any of the joint account holders or authorized signatory/ies of the Account dies or is declared incompetent by a court or insolvent. The Bank may place a freeze on the Account and stop all operations when any of the joint accountholders or authorized signatory/ies dies or is declared incompetent or insolvent.The Bank may retain the freeze on the Account until it establishes the identity and credentials of the successor/beneficiary to its satisfaction.

9. Nomination:

Nomination facility is available for the Account in the names of individuals. Only one nominee is permissible for an Account and the nomination is to be made by the Customer duly witnessed by a third person. The Customer should ensure that he/she gets/is given the acknowledgement as per the nomination rules framed by Reserve Bank of India. The Customer is at liberty to change the nominee, through declaration in the appropriate form to revise the nomination during the currency of the Account with the Bank.

10. Sharing of Information:

The Customer undertakes and authorises the Bank, to exchange, share or part with all the information, data or documents relating to his/her/its application to other Banks / Financial Institutions/ Credit Bureaus / Agencies / Statutory Bodies /Tax authorities /Central Information Bureaus/ such other persons as the Bank may deem necessary or appropriate as may be required for use or processing of the said information / data by such person/s or furnishing of the processed information / data / products thereof to other Banks / Financial Institutions / credit providers / users registered with such persons and shall not hold the Bank liable for use of this information.

11. Change of Terms :

The Bank shall have the absolute discretion to amend or supplement any of these Terms at any time. The Bank may communicate the amended Terms by hosting the same on the Website or in any other manner as decided by the Bank.

The Customer shall be responsible for regularly reviewing these Terms including amendments thereto as may be informed from time to time via mails/e-mails/website and any other media.

12. Withdrawal of Service :

The Bank reserves the right to withdraw/modify/change/cancel/alter any services after notice to the Customer without assigning any reason.

13. Non-Transferability :

The Account and the Services provided to the Customer are not transferable under any circumstance and shall be used only by the Customer. However, the Bank shall have the right to transfer, assign or sell all its rights, benefits or obligations to any person and these Terms shall continue to be in force and effect for the benefit of the successors and assigns of the Bank.

14. Notices :

Notices in respect of the Account, the services and facilities in connection with the Account may be given by the Bank either through email or posting/couriering a letter to the Customer's last known address as per the Bank’s records and the same shall be deemed to have been received by the Customer within 7 days from the posting/delivery.

All notices in connection with the Services or the Account by the Customer to the Bank shall be in writing and sent to the address as provided below and all notices shall be deemed to be received by the Bank only upon acknowledgment of receipt of the same in writing by the Bank.

15. Closure / Freezing of the Account :

The Bank reserves the right to close or freeze the Account(s) at any time at its sole discretion, without liability, after due notice to the Customers for reasons which may include, but not limited to, the following:

1. In case any of the documents furnished towards Identity and address proof are found to be fake / forged / defective.
2. Account opening cheque is returned unpaid for financial reasons/ signature not matching.
3. In case fraudulent / forged / fake cheques / bank drafts or any such instruments are attempted to be cleared / cleared through the Account.
4. In case of frequent returns of inward / outward cheques in the Account.
5. In case of order from any competent court.
6. Improper conduct of the Account in terms of volume / type of transactions.
7. For unsatisfactory conduct of the Account.
The Customers shall be solely liable for return of cheques / dishonouring of any instruments consequent to such closure and all costs / charges arising out of such closure / freezing of the Account(s).

Upon closure of the Account(s) for any of the reasons specified above or otherwise, the Customer shall take steps to collect any balance amount in the Account, if any, and till such time the Customer collects such amounts, the Bank reserves the right to keep such amounts in its custody.

These terms & conditions shall be in addition to & not in substitution or derogation to the Rules & Regulations governing the opening and operation of accounts.

TERM DEPOSITS :

• The Term Deposit Advices are not transferable, non-negotiable and not assignable.
• The depositor is requested to always quote the reference/contract number for all the related correspondence.
• Interest on deposit ceases on the maturity date.
• 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.
• 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.
• 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.
• Deposit rates are subject to directives of the Reserve Bank of India issued from time to time.
• It is the depositor’s responsibility to advise the Bank of change in non-resident status.
• 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.
• Penalty of 1% on all resident/NRO deposits will be levied if the deposit is withdrawn prematurely.
• No interest will be payable if the resident/NRO FD is prematurely withdrawn before 30 days.
• 1% penalty on NRO FD if prematurely withdrawn after 30 days.
• Resident senior citizens will be paid an additional 0.5% interest on their deposits.
• 1% penalty on NRE FD if prematurely withdrawn after 1 year.
• No interest will be payable if the NRE FD is prematurely withdrawn before 1 year.
• 1% penalty plus swap cost of FCNR (B) deposits for premature withdrawal. (Swap cost applicable only for         deposits above USD 30,000/-).
• No interest is payable on premature closure of FCNR deposit within a period of 1 year.