Personal Banking
Basic Banking Products & services
Banking,
being an authorized 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.
Current Account
Basic Banking Products And services
Banking, being an authorized 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, and transfers ATM and Internet banking
and any other mode) provided by the bank. And these
demand
deposits are further bifurcated into:
2. 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 not an interest bearing,
as such no interest will be paid on the balances
held in current account unless otherwise
under any
specific scheme.
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.
Documents Required:
1. Customer identification (for individuals Tazkara / passport and TIN Numbers)
2. For other type
of customers viz firms, companies and social
and non-government, non-profit
organizations.
3. Copy of license for conducting the business from the concerned authorities.
4. Registration certificate of the organization
5. Bye-laws and constitutions of the organization.
6. Board resolution / management decision to open account
7. Tazkaras / passports of the persons authorized to open and operate the account.
8. TIN number (Afghanistan Tax Index Number).
9. 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.
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,
no minimum amount, 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
Basic Banking Products And services
Banking, being an authorized 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, and 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 organizations.
3. Registration certificate of the organization
4. Bye-laws and constitutions of the organization.
5. Board resolution / management decision to open account
6. Tazkaras / passports of the persons authorized 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.
Fixed Deposit
Basic Banking Products And services
Banking,
being an authorized 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, and transfers ATM and Internet banking and any other mode) provided by the bank. And these demand deposits are further bifurcated into:
1.Time Deposit/Term Deposit/Fixed DepositThese 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. Customer identification (for individuals Tazkara / passport and TIN Numbers).
2. For other type of customers viz social and non-government, non-profit organizations.
3. Copy of license for conducting the business from the concerned authorities.
4. Registration certificate of the organization.
5. Bye-laws and constitutions of the organization.
6. Board resolution / management decision to open account.
7. Tazkaras / passports of the persons authorized to open and operate the account.
8. TIN number (Afghanistan Tax Index Number).
9. 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 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.
Credit Products
A. Fund Based Credit Facilities:
Demand Loan / Over Draft facilities.
Term Loan (Medium term and long term loans).
Working capital / Cash credit advances.
B. Non-Fund based Credit Facilities:
Letters of Credits.
Letters of Bank Guarantees.
Line of Credits (Supplier's credit and Buyer's credit).
Other Services:
Apart from the basic banking products, Maiwand
bank provides various kinds of financial and
non-financial services to meet the requirements
of the customers:
1. Transfer of funds from and to across
the globe through the SWIFT, the most secured
and
speedy
mode of communication.
2. Issuance of Drafts , pay orders and any other types of payment services.
3. Collection of cheques / Draft / pay orders and bill and any other documents.
4. Money exchange services at fair and latest exchange rates.
5. Separate counters for WESTERN UNION services
for fast easy money transfers from and
to
across the globe.
6. payment and collection services for Foreign
inward and outward bills for the export
and
import
transactions.
7. providing latest and innovative delivery
channels viz. internet banking, ATM, SMS
and
mobile
banking.
8. Providing facilities for both online
and counter payment of all utility payments
viz payment of
Municipal
taxes, electricity bills, remittance of various
taxes to the Government of Afghanistan.
For specific products & services under
various schemes, refer the relevant scheme
or visit us at
www.maiwandbank.com
or contact Branch Manager or Marketing Manager.
All other guidelines of the Bank regarding
photographs, introduction, nomination facility,
KYC norms, etc., are applicable to all the
above demand
deposit and time deposit accounts.
Customer-ID creation and Account Opening
Forms are to be completed in all the aspects
before opening of
any of the above deposit
accounts