We propose to launch a new product dedicated for NGOs/NPOs. Presently we are opening NGO/NPO accounts under Current Corporate product. We believe NGO sector needs a special product for below reasons:
We propose to open all fresh NGOs/NPs(foreign and local) under the proposed new product.
Existing NGO accounts will also be migrated to new product.
Below are the parameters and product features for the proposed Current NGO product.
Eligibility | NGOs/NPOs (Foreign and Local) having License from Ministry of Economy |
Type of Account | Current Account |
Purpose | To facilitate Transactions for NGOs |
Eligible sectors | Only Registered NGOs and NPOs |
Acceptable KYC |
|
ATM Card | Not Eligible |
Minimum Amount/Balance | AFN 10,000, USD/EUR/GBP 300 |
Maximum Amount/Balance | No limit |
Standing Instructions required | Facility Available |
Minimum amount of cash withdrawal allowed (Not at the time of closure of account) | AFN 500, USD/EUR/GBP 50 |
Tenor | No fixed tenor. Payable on demand |
Standing Instructions required | Facility Available |
Standing Instructions charges | AFN 250 & USD/EUR/GBP 5 |
Account Opening Charges | Nil – Free |
Monthly Maintenance Fee | AFN 250 & USD/EUR/GBP 5 |
Rate of Interest p.a | Product Level - Zero |
Account Closure charges | If closed within 3 months. AFN 500 and USD/EUR/GBP 10. After 3 months-NIL |
Non maintenance of Minimum Balance fee | AFN 300 USD/EUR/GBP 6 |
Statement required: Yes | Free |
Statement Charges | Monthly once Free |
Cheque book charges | NA |
Duplicate statement charges | 250 AFN up to 10 pages each or part thereof. 5 USD/EUR/GBP up to 10 pages each or part thereof |
Duplicate ID Card charges | AFN 250. USD/EUR/GBP 5. |
Transaction count per month | Withdrawals are allowed any number of times |
Transaction Charges | Free |
Cheque book charges | AFN 500. USD/EUR/GBP 10 per Cheque book |
SMS Alert required | Optional |
SMS Alert Charges | AFN 100. USD/EUR/GBP 2 |
Transaction Alert | Yes |
Cheque Book Issuance Alert | Yes |
Cheque Book Fee Alert | Yes |
Maintenance of Minimum Balance Fee Alert | Yes |
Non Maintenance of Minimum Balance Alert | Yes |
Non Maintenance of Minimum Balance Fee Alert | Yes |
Account Opened Alert | Yes |
Account Closed Alert | Yes |
Account Level Message facility | Yes |
Account Level Message facility | Yes |
Standing Instruction Registration Alert | Yes |
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