ELITE TERMS & CONDITIONS

The following Terms & Conditions apply to Oman Arab Bank “ OAB” Elite

Banking in addition to the General Terms & Conditions applicable to accounts held with OAB.

1 . Membership: The Bank may grant/refuse/withdra membership to an Elite account at its own discretion The Elite client may cancel their membership at any time by giving notice to any OAB branch and returning their Elite debit card and Elite cheque book from the date of notice of the membership, the withdrawing client will no longer receive the Elite Banking benefits and privileges. If the customer wishes to continue as an OAB customer, the bank will issue a standard OAB on the OAB card Terms & Conditions as soon as reasonably practicable.

2. Oman Arab Bank Elite Credit Card: Elite clients are eligible for primary and additional Elite Credit Card from the date of signing for the Elite membership. The issuance of the Elite Credit Card will be at the Bank’s sole discretion subject to credit approval. the applicant should read the terms & conditions related to the operation of the credit card and add-on cads, and confirm reading and agreeing to be bounded by the same.

3. Waiver of Service Charges : The Elite client shall be eligible for a waiver/discounted rates, Charges on the Banking services as per Elite Schedule of charges. The bank retains the right to review these rates and charges and revoke all/any of these waivers at its sole discretion, under advice to Elite clients.

4. Oman Arab Bank Elite Debit Card/ATM : Elite Members shall be issued an OAB Elite Debit / ATM card . The operations of this card will be as per the terms & conditions applicable for the OAB Elite card . The Elite card shall replace the OAB card for those clients whom already have been issued an OAB card previously . The applicant agrees to return his OAB card to the bank on receipt of the Elite Card.

5. Third Party Facilities : Oman Arab Bank Elite Clients shall be eligible for reduction in charges for products/service provided by third parties/service establishments as a part of the package. The details of these facilities shall be informed to the Elite clients. The bank shall not be in any way responsible for merchandise, merchandise warranty or services purchased or availed by Elite clients from third parties/service establishments including on account of any delay in delivery, non-delivery.

6. Charges : OAB Elite clients shall maintain a monthly aggregate average portfolio balance of OMR 35,000 / – a c ross all their accounts including investments or a salary credit of OMR 3,500 /- in their accounts. the client authorizes the bank to debit,10 R.O charges to his/her savings or current account if the aggregate average balance for 3-month falls month falls below RO 35,000 /or discounting of salary credited in any month. The bank retains the right to change the applicable charges at its sole discretion at any time.

7. Amendments to the Terms & Conditions: the Bank reserves the right to add, delete or modify any of the above – mentioned terms and conditions with a 30 – day prior notification and such altered or additional terms and conditions shall be binding on all the existing Elite clients.