The savings deposit account (Wadiah) does not have a condition to pay returns to depositors. However, the bank applys the principle of *Hibah (Gift), which refers to present, donation, or goodwill that one party wishes to give to another. In cases where the bank earns income by investing the deposits of customers, it may calculate and pay returns (Hibah) to depositors twice a year, at the end of June and the end of December. Depositors can check historical returns here. click here
The bank cannot accept deposits from sources that clearly contradict to religious principles. For example, it cannot accept deposits from a distillery because the source of those deposits comes from the sale of alcoholic beverages.
- -For a savings account, if the balance is below 200 baht and there are no transactions for 12 months, the bank will charge a maintenance fee of 50 baht per month starting from the 13th month.
- -For a current account, if the average balance is below 1,000 baht per month and there are no transactions for 12 months, the bank will charge a maintenance fee of 100 baht per month starting from the 13th month.
- -The bank will notify customers in writing about the fee collection at least 30 days in advance. If there are no transactions after the notification, the bank will deduct the maintenance fee until the remaining balance is zero and will automatically close the account.
- - For fixed deposits under the principles of Wakalah and Mudarabah (tax-exempt fixed deposits), when the deposit period expires and the depositor does not communicate with the bank to close the account, the bank will transfer the principal and returns to the savings account that the customer has designated.
- - For ordinary fixed deposits under the principles of Mudarabah, when the deposit period expires and the depositor does not communicate with the bank and/or does not change the deposit terms, the system will automatically renew the deposit under the original terms.
The co-borrower must have a relationship as a father, mother, child, sibling (sharing both parents), or spouse. In the case of spouses who are not legally married, they must be able to prove their partnership, such as through a household registration document showing shared children or other documents that can verify the relationship.
