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Current AccountCurrency
Current Account can be opened in Bahraini Dinar only.

Eligibility
Individuals above the age of 21 (of all nationalities), legal entities such as firms, companies, trusts, clubs, associations, societies etc. are eligible to open current account. Minors are not eligible open current account.

Minimum Balance
Minimum balance of BD 200.000 shall be maintained in the account. Penal charge of BD 3.000 per month if the minimum monthly balance in the account falls below BD 200.000

Rate of Interest
No interest shall be payable on the account

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

Cheque Book Facility
Cheque books will be issued in current accounts of legal entities.

ATM Cards
Individual depositors under the scheme shall be eligible for ATM card as well. Transactions through Bank’s own ATM shall be free of charge.

Access to State Bank ATMs in India
No service charge will be levied for two transactions in a month through ATMs of other banks (subject to maintenance of minimum monthly balance of BD 500.000 in the account).

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

Free remittance of funds
Free remittance of funds to any branch of State Bank of India will be permitted, once in a month, in accounts with minimum monthly balance of BD 500.000. Remittance of funds to branches of other banks will also be permitted in such accounts free of remittance charges, once in a month; other banks charges will, however, be borne by the depositor.