Current Account

Personal Banking >> Current Account

Products

Deposit Products


Deposits are broadly divided into:

1. Demand deposits: Theses deposits accepted from the public are repayable on demand by withdrawing the same through the different delivery channels (cheques, drafts, cash withdrawals, transfers withdrawal through ATM and Internet banking and any other mode) provided by the bank.


These demand deposits are further bifurcated into:

a. Current Deposits: These type of accounts are aimed to facilitate the business community to enable them to avail the banking services for managing their business operations in more organized way with proper control and transference. In current account there is no restriction on the number of operations. This is a non-interest bearing account, unless agreed upon or under any specific scheme.

Eligibility: Accounts can be opened by
1. individuals & joint holders.
2. Proprietorship or Partnership firms
3. Private & Public Limited Liability Companies.
4. Education &health institutes or any other organizations.
5. Non-profit and Non-Government organizations, clubs, societies and associations.


Documents Required:

1. For individuals

a. Customer identification (Tazkira / passport )
b. Business license
c. TIN Numbers


2. For other type of customers viz firms, companies and social and non-government, non-profit organizations.

a. Copy of license for conducting the business from the concerned authorities.
b. Registration certificate of the organization.
c. Bye-laws and constitutions of the organization.
d. Board resolution / management decision to open account.
e. Tazkiras / passports of the persons authorized to open and operate the account.
f. TIN number (Afghanistan Tax Index Number).
g. Introduction letter from any existing customer.


Features:

1. Accounts will be opened in AFN, USD, GBP and EURO.
2. No account opening and account maintaining charges.
3. One cheque book will be issued free of cost on opening of the account.
4. Pass book, customer ID card, statement of account will be given free of charges.
5. ATM debit card will be issued free of charges.
6. collection of local cheques will be done at no cost.
7. Internet Banking Facilities will be provided free of charges on specific request with secured passwords.
8. For Minimum balance requirements and other features, refer the details from the relevant specific scheme.


Current account will also be opened for Margin Money purpose from the borrowers as a part of their contribution / security for obtaining fund based and non-fund based credit from the bank. In the case of Margin Money deposits, there is no stipulation of minimum balance, no minimum period and no interest will be paid on the amounts held. The margin money deposit will be kept under lien and will be released or repaid on satisfactory repayment / discharge of the liability by the borrower.

Saving Account

Personal Banking >> Saving Account

Saving Deposits: These types of deposits are mainly aimed at encouraging the public to save their surplus earnings for their future needs with certain limits on the number of operations. This also aims at inculcating the saving habit among the public to pool the individual surplus earnings to be useful for the investment in the developmental activities of the country.

Eligibility:
1. individuals & joint holders.
2. Non profit organization like clubs, associations and NGOs. Proprietors, partners and Directors of companies in their individual capacity .
3. Minors below 18 years of age, can open along with their natural / legal guardian and the account could be operated by the guardian only for the benefit of minors.
4. Minors above 10 years of age, provided they are able read, write and sign uniformly.
5. Firms and Business units can't open saving accounts.


Documents Required:

1. For individuals

a. Customer identification (Tazkira / passport )


2. For other type of customers viz social and non-government, non-profit organizations.

a. Copy of license for conducting the business from the concerned authorities.
b. Registration certificate of the organization
c. Bye-laws and constitutions of the organization.
d. Board resolution / management decision to open account.
e. Tazkiras / passports of the persons authorized to open and operate the account.
f. TIN number (Afghanistan Tax Index Number).
g. Introduction letter from any existing customer.


Features:

1. Accounts will be opened in AFN, USD, GBP and EURO.
2. No account opening and account maintaining charges.
3. One cheque book will be issued free of cost on opening of the account.
4. Pass book, customer ID card, statement of account will be given free of charges.
5. ATM debit card will be issued free of charges.
6. Collection of local cheques will be done at no cost.
7. Internet Banking Facilities will be provided free of charges on specific request with secured passwords.
8. For Minimum balance requirements and other features, refer the details from the relevant specific scheme.
9. Zero minimum balance requirements for salaried accounts.

Fixed Deposit

Personal Banking >> Fixed Deposit

Time Deposit/Term Deposit/Fixed Deposit : These types of deposit accounts are aimed to resource the long time funds from the public, who may not have immediate cash requirements. These deposits are accepted for a certain fixed time or term which will be repayable after the expiry of the period so fixed. Since these deposits remain in the bank for a longer time than the demand deposits for the purpose of long term investments, Maiwand bank offers attractive interest rates with more safety and security of the customer's funds.

Eligibility:
1. Accounts can be opened by individuals & joint holders.
2. Proprietor, Partnership firms.
3. Private Public Limited Liability companies.
4. Education health institutes and any other organizations.
5. Non-profit and Non-Government organizations, clubs, societies and associations.
6. Minors below 18 years of age, can open along with their natural / legal guardian and the account could be operated by the guardian only for the benefit of minors.


Documents Required:

1. For individuals

a. Customer identification (Tazkara / passport).
b. Business license.
c. TIN Numbers.


2. For other type of customers viz social and non-government, non-profit organizations.

d. Copy of license for conducting the business from the concerned authorities.
e. Registration certificate of the organization.
f. Bye-laws and constitutions of the organization.
g. Board resolution / management decision to open account.
h. Tazkiras / passports of the persons authorized to open and operate the account.
i. TIN number (Afghanistan Tax Index Number).
j. Introduction letter from any existing customer.


Features:

1. Accounts will be opened in AFS, USD, GBP and EURO.
2. Fixed Deposit Receipt will be issued to the depositor and the same has to be surrendered on the maturity for withdrawing the amount. 3. No cheque books will be provided for withdrawals. However, in case of need, customer can withdraw the amount in fixed deposit prior to the due date of maturity. In that case the interest will be paid at1% less than the applicable rate for the period of which the deposits remain with the bank.
4. But if the FD is closed before maturity for the purpose of renewing for further period, then the penal interest clause will not be applicable.
5. Fixed Deposits will be accepted for a minimum period 3 months and no maximum limit on the period. How ever currently fixed deposits will be accepted for a maximum period of 5 years and the same could be renewed for a further period as per the requirement and instructions of the custom.

Service Charges

Personal Banking >> Service Charges

Credit Products

Products & Services

Charges in USD/EURO/GBP

Charges in Afghani

1. Account Opening Charges
Saving Account NIL NIL
Current Account NIL NIL
Fixed deposit NIL NIL
Salary Account NIL NIL
2. Account Maintenance Charges
Saving Account NIL NIL
Current Account NIL NIL
3.Account ID card issuing charges
Saving Account NIL NIL
Current Account NIL NIL
Other than account holders USD 5 or equivalent Afn 250
4.Duplicate ID card issuing charges
Saving Account USD 5 or equivalent AFS 250
Current Account USD 5 or equivalent AFS 250
5.Minimum balance requirement
Saving Account USD 50 AFS 2500
Current Account
- With cheque book USD 200 AFS 10000
- Without cheque book USD 100 AFS 5000
Fixed deposits USD 500 AFS 25000
Salary account NIL NIL
6.Account statement
Saving Account NIL NIL
Current Account NIL NIL
Duplicate statement (per statement) USD 5 Afn 250
7.cheque books
First cheque book of 10 leaves NIL NIL
Subsequent cheque books (20 leaves) USD 10 AFS 500
8.Stop payment instructions
Stop payment instructions USD 5 AFS 250
9.Standing instructions
Registration charges USD 5 AFS 250
Per transaction to another bank USD 5 + remittance charge Afn 250 + remittance charge
Per transaction within the bank NIL NIL
Charges for inability to carry out instructions due to insufficient balance USD 5 Afn 250
10.Account closure
Account closure within three months of opening (except in case of death) USD 5 AFS 250
11.Cash withdrawal
Minimum amount of cash withdrawal Any amount Any amount
Service charges per half year for operations through mandate USD 10 AFS 500
12.Charges for adding or deleting a name in fixed deposit or recurring deposit
Charges NIL NIL
13.Balance certificate or interest certificate or any other certificate issuing charges
Charges USD 5 AFN 250
14.Inter branch transaction - Cash handling charges
Inter branch cash transaction up to USD 10,000 Nill Nill
Inter branch cash transaction above USD 10,000 USD 70 per USD 100,000 or part thereof Nill
No charges on inter branch cash AFN Transaction Nill Nill

Interest rates

Personal Banking >> Interest rates

Interest rate on deposits

Rates of Interest on various deposits: Savings Deposit:


Deposit Scheme Interest rates per annum
  AFS USD  EURO GBP
Saving General 2.50 % 1.00 % 0.25 % 0.50 %

The method of calculation of interest in Saving Fund Accounts shall continue as hitherto.


Rate of Interest on Current Deposits and Margin Money Deposits accounts. Nil
Rate of Interest on Time / Fixed / Term / Recurring Deposits.


Period Of Scheme Interest rates per annum
With Effect From 15-Apr-2017 AFS USD EURO GBP
From 1 day to less than a month 0.00 % 0.00 % 0.00 % 0.00 %
From 1 month to less than 3 months 2.50 % 1.00 % 0.25 % 0.50 %
From 3 months to less than 6 months 3.00 % 1.00 % 0.25 % 0.75 %
From 6 months to less than 1 year 3.50 % 1.00 % 0.50 % 1.00 %
From 1 year to less than 2 years 4.00 % 1.00 % 0.50 % 1.00 %
From 2 years to less than 3 years 4.00 % 1.00 % 0.75 % 1.00 %
From 3 years to 5 years 4.00 % 1.00 % 0.75 % 1.00 %

The penalty on premature cancellation on term deposit for AFN deposits shall be 1.0% for foreign Currency deposits is 0.25%.