Common use of Amanah Basic Savings Account Clause in Contracts

Amanah Basic Savings Account. i a. The Customer deposits with the Bank as lender and gives consent to the Bank as borrower to utilise any part of the deposits in the account for Shariah compliant investments or transactions. Returns generated from utilisation of deposits belongs solely to the Bank. The Bank undertakes to deliver the deposit to the Customer on demand. b. Account statements will be generated but not sent to Customers. However, upon request, quarterly statements or at such other intervals determined by the Bank from time to time, may be made available to the Customer at a fee to be determined by the Bank or sent to the Customer in electronic format to the Customer’s e-mail address last known to the Bank or through Online Banking if the Customer is a registered user. c. A minimum of RM20 (or such other minimum amount as may be specified by the Bank and/or the relevant regulatory authorities) is required to maintain the account at all times. d. Any Hibah credited to the account was on the bank’s sole discretion. It shall not be construed as an indicative Hibah nor give rise to any obligation on the part of HSBC Amanah to provide such Hibah in the future e. The Customer agrees that fees and charges stated in the Bank’s Tariff and Charges which can be viewed at the Bank’s website shall be imposed.