Basically Savings Bank Deposit scheme is introduced to encourage the people for the savings of their earnings. New Kabul Bank also introduced three types of Savings Bank Deposit schemes for the customers. These schemes are Savings Bank Deposit General, Savings Bank Deposit VIP and Savings Bank Deposit Bakth account. The different schemes are introduced due to the different features of schemes. The customers have to furnish the relevant documents as stated above to fulfill the Know Your Customer concept. The common features for all types of savings Bank accounts are as under:

• Account can be opened by individual or joint individuals. • Firms and Business units can not open the savings Bank accounts but the proprietor, partners and directors of firm and companies can open the accounts in individual names. • In the name of minors below 12 years can be opened by their natural guardians and the account will be operated by guardian only. • The minors of age more than 18 years and if they are able to read and write can open the accounts in their individual names and account can be operated by them. No cheque book will be issued to them.

Savings Bank Deposit General

• The minimum initial deposit should be USD 100 or equivalent.
• If balance goes below USD 100 during the entire year then bank will charge $5 per month and will be deducted from the customer account. Penalty of minimum balance is not applicable to staff accounts and salary accounts maintained by employees of different organizations.
• The customer will be issued an identity card and he has to produce the same to the bank for taking cash payment from his account.
• Interest will be payable once in three months @ 5%. The interest will be calculated on monthly basis on the minimum balance between 6th of the month and last day of the month.
• The cheque book will be issued only with the permission of Branch head. The first cheque book of 10 leaves will be issued free of charges and subsequently issuance of cheque book will be charged $10 per cheque book.
• On the closure of account USD $10 will be charged towards cost of identity card.
• Letter of thanks will be sent to account opener and introducer.
• The account holder will be provided unique user ID and secured password to view his account through our internet facility. The customer can take print of account statement by using the facility.

Savings Bank Deposit VIP:

• The minimum initial deposit should be USD 50000 or equivalent.
• If balance goes below USD 50000 then the account will be treated as Savings Bank Deposit General and will attract features of the said scheme.
• The customer will be issued an identity card and he has to produce the same to the bank for taking cash payment from his account.
• Interest will be payable daily compounding @ 5% on the end of day balance. If balance goes below the minimum balance i.e. USD 50000 or equivalent then interest will be paid as per Savings Bank Deposit General Scheme.
• The cheque book will be issued only with the permission of Branch head. The first cheque book of 10 leaves will be issued free of charges and subsequently issuance of cheque book will be charged $10 per cheque book.
• On the closure of account USD $10 will be charged towards cost of identity card.
• Letter of thanks will be sent to account opener and introducer.
• The account holder will be provided unique user ID and secured password to view his account through our internet facility. The customer can take print of account statement by using the facility.

Savings Bank Deposits Bakht Account

Changes in the Bakht Draw

As per Central Bank’s (Da Afghanistan Bank) Directive, the Bakht Draw Ceremony will take place once in three  months. A large number of Bakht Account holders will be present to drop their tickets by their own hands into the Draw boxes. At the end of every three months the ceremony will be arranged for the draws. The conditions for participating in  draws will be the same as it was earlier. Those customers keeping a balance of(USD 1000 or AFN50000) or its multiples, will have their tickets in the four weekly boxes as usual according to their deposits and those customers maintaining their balance of (USD100 or AFN 5000 up to USD 999) , they will have tickets one ticket against each USD 100 or AFN 5000 in the monthly Draw box according to their deposits in their Bakht Account.

• The minimum initial deposit should be USD 100 or AFN 5000.
• The account can be opened by individuals only. The account in the name definition of minor is one whose age is less the 18 years on the date of opening of the account, and will be permitted to be operated by the guardian only.
• The customer will be issued an identity card and he has to produce the same to the bank for making any transaction from his account.
• No interest will be paid for account opened under this scheme. The scheme is having monthly and weekly draw on the lucky draw basis and the prizes will be distributed among the winners. The account holders maintaining minimum balance between the range USD 100 to USD 999 or AFN 5000 to AFN 49999 are eligible for monthly draw. USD 100 or AFN 5000 will be treated as one unit. Say if a person is having a minimum balance of USD 870 then he will be eligible of 8 units of USD 100 each. The weekly draw is available for the account holders who are maintaining minimum balance more than USD 1000 or AFN 50000. Every USD 1000 or AFN 50000 will be treated as one unit. The units will be derived by taking USD 1000 or AFN 50000 as a base and the residual component of the balance outstanding will be eligible for monthly draw and units will be decided by taking USD 100 or AFN 5000 as base. Say if the minimum balance in a persons account is USD 8666 then the account holder is eligible for weekly draw. The units available in this particular account for weekly draw will be 8 of USD 1000 each and 6 units of USD 100 will be available for monthly draw. The amount and number of prizes will be decided as per the total deposit in the scheme. The schedule of monthly draw is derived as per Solar Islamic calendar and the separate dates are fixed for every month.
• No cheque book is issued for these accounts.
• On the closure of account USD $10 will be charged towards cost of identity card.
• The account holder will be provided unique user ID and secured password to view his account through our internet facility. The customer can take print of account statement by using the facility.