Dollar Super Savings

Currency
Account can be opened in US Dollars only.

Eligibility
Individuals above the age of 21 (of all nationalities) are eligible to open a Dollar Super Savings account. Parent or legal guardian may open account in the name of a minor. The account will be operated by the parent or legal guardian the account till the minor becomes a major.

Minimum Balance
USD 500.00. Penal charge of USD 2.65 per month will be levied if the monthly minimum balance in the account falls below USD 500.00. (The penal charges will be waived for the first six months from the opening of the branch)

Rate of Interest
Interest at the rate of 0.20% p.a.(w.e.f. 15.12.2020) will be payable half yearly as at the end of June and December. No interest will be payable if the monthly minimum balance is below USD 500.00.

Joint Accounts
Accounts can be opened in the joint names of upto three persons. However, notwithstanding any instructions regarding mode of operation in the account / payment of balance in the account, on the death or incapacitation of one of the account holders, the account will be suspended until a representative of the deceased / incapacitated account holder is appointed. The account will be deemed to be divided among (not jointly owned by) the joint account

Guarantee Cover
Cover under the Deposit Protection Scheme of the Central Bank of Bahrain will be available for ‘eligible deposits’.

Jurisdiction
Only the courts in Bahrain shall have jurisdiction in respect of all matters of dispute pertaining to deposits under the scheme.

Governing Law
The scheme shall be governed by and construed in accordance with the law of Bahrain

Transactions in the Account
No cash transaction shall be permitted in the account. All deposits and withdrawals in the account shall be through SWIFT only. No cheque book or ATM card will be issued in the account.

Internet Banking
Depositors under the scheme shall be eligible for Internet Banking facility