Saving Account
Basic Banking Products And services
Banking, being an authorised financial intermediary
between the Depositors
(with excess money to save) and the Borrower
(we is in need of financial support), has
the basic fundamental functions of
"Accepting the deposits from the public
for the purpose of lending or investment"
With the above, it is clear that one of the main
functions of the banking is accepting the deposits
(interest bearing and non-interest bearing) from
public as a main source of funds. Maiwand
Bank has designed and offers various deposit
schemes for the public to invest their excess savings.
Products
Deposit Products
Deposits are broadly divided into:
I. Demand deposits:
Theses deposits are accepted from the public and
repayable on demand by withdrawing the same through
the different
delivery channels (cheques, drafts,
withdrawals, transfers, ATM and Internet banking
and any other mode) provided by the bank. And these
demand
deposits are further bifurcated into:
1. Saving Deposits: These type of deposits are mainly aimed to encourage the public to save their surplus earnings for their future needs with certain limits on 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. Accounts can be opened by individuals & joint holders.
2. Non profit organistaion like clubs, associations and NGOs can also open.
3. Firms and Business units can't open.
4. However Proprietors,partners and Directors of companies in their individual capacity can open.
5. Minors below 18 years
of age, can open along with their natural /
legal guardian and the account
could
operated by the guardian only for the
benefit of minors.
6. However, Minors above
10 years of age, can open the accounts in their
own name and also
can operate them selves, provided
they are able read, write and sign uniformly
Documents Required:
1. Customer identification (for individuals Tazkara / passport and TIN Numbers)
2. For other type of customers viz social and non-government, non-profit organisations.
3. Registration certificate of the organisation
4. Bye-laws and constitutions of the organisation.
5. Board resolution / management decision to open account
6. Tazkaras / passports of the persons authorised to open and operate the account.
7. TIN number (Afghanistan Tax Index Number).
8. 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. Free collection of local cheques.
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.