Hassad Saving Account T&C:

A Savings Account is a cash deposit Account into which cash deposits are permitted and from which cash withdrawals are permitted subject to certain conditions.

Credit balances on a Savings Account if mutually agreed shall bear interest at the rate and calculated in the manner specified in the applicable Specific Conditions.

The Bank does not provide the Service of issuance of a cheque book or of overdraft for the Savings Account. The Customer shall at all times maintain a credit balance in a Saving Account.

General Account Conditions:

One or more Accounts and/or subaccounts may be opened by the Customer, subject to these General Terms and Conditions for Accounts and any applicable Specific Conditions. The Bank may open a specific Account or sub-Account for and on behalf of the Customer to comply with applicable law or governmental instructions. Furthermore, the Bank may also require that a specific Account and/or sub-Account is opened by the Customer in order to make available a particular Service. Subject to the Bank’s right to combine and consolidate Accounts, each Account may be subject to different eligibility criteria and conditions. As a result, the Customer may be required to meet certain obligations (such as minimum balance requirements) on one Account despite the availability of a credit balance on another Account.

The Customer shall submit to the Bank all forms, documents and evidence relating to the opening of an Account that the Bank may require, in form and substance satisfactory to the Bank. If the Bank refuses to open an Account and where permitted by applicable law, the Bank shall endeavor to provide its reasons for any such refusal.

The Customer must inform the Bank in writing of any change in the information provided by the Customer at the time of opening an Account or that may impact his FATCA or any other customer identification or due diligence documentation previously delivered to the Bank, including (without limitation) any changes to the Customer’s name, identification documents, address, telephone numbers, constitutional documents, shareholding structure, beneficial ownership and the powers of any Authorized Signatories. The Customer must provide the Bank with any additional forms, documents and other evidence relating to such changes as the Bank may request, in form and substance satisfactory to the Bank. Any changes shall only be effective when actually received and accepted by the Bank.

The Customer must promptly inform the Bank in writing if:

(a) the Customer becomes unemployed or loses the primary source of the Customer’s income; and

(b) the Customer has lost or will shortly lose residency status in Oman or his/her nationality or his/her nationality from any other country.

The Bank may require the Customer to maintain a minimum balance in any Account as may be determined by the Bank and notify the Customer from time to time. The amount of, and method of calculation of, such minimum balance shall be determined by the Bank and may vary depending on the type of Account. The Bank may impose a fee or otherwise decline to process any instruction if the Customer does not meet such minimum balance requirement.

The Bank reserves the right, and the Customer authorizes the Bank, to debit any Account (and in case of insufficient balance, to overdraw the Account) in case the Bank credits any funds to an Account of the Customer due to including but not limited to computer system error, technical error or malfunction, human error, clearing system error, any other error, fraud by the Customer or a third party or any other reason, in each case without any liability.

The Bank may allocate an identification number to the Customer and/or an Account number to an Account of the Customer. Such identification numbers remain the property of the Bank and the Bank shall have the right to modify or change such numbers at any time. This number shall be attached to all the letters which the Customer sends to the Bank in relation to any Account and upon carrying out any deposit transactions or withdrawal to and from any Account.