sbanner

Service Charges

​​​​​
Fees and charges, w.e.f. 01 April 2019​

Description
Offshore Banking
Domestic Banking
​​Minimum balance to open account
N/A
Individuals - SCR 2,500
​Balances below specified amount
N.A.SCR 20 p.m., if balance falls below SCR 2500
​Maintenance fee
​N.A.
​No charge
Account closure
​N.A.
No charge
Dormant account maintenance
​N.A.
No charge
Request for account statements (more than 12 months old)
​N.A.
SCR 15 per page
Description
Offshore Banking
Domestic Banking
​​Minimum balance to open account (Individuals)USD 10,000 or equivalentSCR 2,500
​​​Minimum balance to open account (Business)USD 25,000 or equivalentSCR 5,000
Balances below specified amountUSD 50 p.m. or equivalent​SCR 50 p.m.
Maintenance fee​USD 20 p.m. or equivalentSCR 100, half-yearly
Account closure​No ChargeNo Charge
Dormant account maintenance​No chargeNo charge
Cheque booksN.A.Personal 50 pages - SCR 130
Corporate 50 pages - SCR 150
Corporate 100 pages - SCR 220
Cheque returned for lack of fundsN.A.SCR 500 per cheque
Stop payment of chequeN.A.SCR 50 per cheque
Request for account statements (more than 12 months old)Flat charge of USD 50 or equivalentSCR 15 per page
Description
Offshore Banking
Domestic Banking
​​Minimum balance to open account (Individuals)Not ApplicableUSD 1,000 or equivalent
​​​Minimum balance to open account (Business)Not ApplicableUSD 2,500 or equivalent
Balances below specified amountNot Applicable​USD 10 p.m. or equivalent
Maintenance fee​Not ApplicableUSD 5 p.m. or equivalent
Account closure​Not ApplicableNo Charge
Dormant account maintenanceNot ApplicableNo charge
Request for account statements (more than 12 months old)Not ApplicableUSD 5 per page
Description
Offshore Banking
Domestic Banking
Visa Classic (Debit)
New Card IssuanceUSD 100 + Courier charges on actuals basisFree
​​​Renewal of Card, on expiry (3 years)USD 50 + Courier charges on actuals basisFree
Card ReplacementUSD 100 + Courier charges on actuals basis​SCR 150
Pin Regeneration​USD 50 + Courier charges on actuals basisSCR 50
Visa Infinite (Credit)
Membership / Annual FeeN.A.SCR 500
​​​Card Replacement (lost, stolen etc)N.A.SCR 500
Pin RegenerationN.A.SCR 100
Fee on unpaid balance​N.A.1.5% p.m.
Cash Advance Fee​N.A.3% of the amount, min SCR 100
Late Payment Fee​N.A.SCR 500
Overlimit Fee​N.A.SCR 250
Duplicate Statement​N.A.SCR 50
Mark-up for international transactions​N.A.2%
Description
Offshore Banking
Domestic Banking
Arrangement / Processing Fee1% of facility amount, min USD 5001% of facility amount. min SCR 500
​​​Processing Fee for 1st Home ownersN.A.upto SCR 1.50 mn - 0.50%, max SCR 2500 above SCR 1.50 mn - 0.50%
Facility Renewal Fee1% of facility amount, min USD 5001% of facility amount. min SCR 500
Facility excess/arrears fee​2% above contracted rate2% above contracted rate
Facility pre-closure feeNo chargeNo charge
Amendments to Facility Contracts0.5% of o/s, min USD 5000.5% of o/s, min SCR 500
Statement of Facility accountNo chargeNo charge
Amortisation scheduleNo chargeNo charge
Facility rescheduling/restructuring1% of o/s, min USD 5001% of o/s, min SCR 500
Letter of no commitment with BankUSD 100SCR 100
Release of GuaranteesUSD 100SCR 250
Cancellation of agreement (pre-disbursement)0.5% of approved amount, min USD 5000.5% of approved amount, min SCR 500
Documentary Credits​N.A.N.A.
Guarantees / Bonds​N.A.N.A.
Inward Bills for Collection​N.A.1%, min SCR 250 + SWIFT charges
Description
Offshore Banking
Domestic Banking
Foreign Transfers
SWIFT outgoingUp to USD 20,000 -USD 50 + OBC
Above USD 20,000 - 0.30% + OBC
Up to USD 10,000 - SCR 200 + OBC
Above USD 10,000 - 0.15%, max SCR 750 + OBC
SWIFT incomingNo chargeNo charge
Local Transfers
Within Al Salam Bank accountsNo chargeNo charge
To Local Bank accountsAs per SWIFT chargesSEFT - SCR 20
SWIFT - SCR 50
IncomingNo chargeNo charge
Banker's Cheques
Issuing of Banker's ChequesN.A.SCR 50
Cancellation of Banker's ChequesN.A.SCR 25
Description
Offshore Banking
Domestic Banking
Within Al Salam Bank accountsNo chargeNo charge
To Local / Foreign Bank accountsAs per SWIFT chargesAs per SEFT/SWIFT charges
New standing order set upUSD 10SCR 20
Amendment to standing orderUSD 10SCR 20
Unpaid due to lack of fundsUSD 50SCR 100
Description
Offshore Banking
Domestic Banking
Internet BankingNo chargeNo charge
Requests for CIS ReportsN.A.SCR 100
Bank audit report to Co's auditorsUSD 15SCR 100
Bank's Reference / Status ReportUSD 25SCR 250

Abbreviations

Min - minimum ; Max - maximum ; mn - million ; OBC - overseas bank charges ; o/s - outstanding

N.A. - Services not being provided by Bank as of now