We’re updating our Schedule of Services and Tariffs to reflect VAT that we are required to collect from our customers on some of our fees and charges pursuant to Financial Services VAT Guide

 

What are the changes? 

Where applicable, VAT will be applied on top of the following existing fees and charges: 

Product
Fee/Charge
From
To
Personal Account

Breach of Minimum Balance (monthly - Current and Savings) -

Personal Banking

AED 25
AED 25  (AED 26.25 inclusive of VAT)
Breach of Minimum Balance (monthly for Foreign Currency - Current and Savings) - Personal Banking
USD / GBP / EUR 5, CNY 40
USD / GBP / EUR 5  (USD / GBP / EUR ­ 5.25 inclusive of VAT), CNY 40  (CNY 42 inclusive of VAT)
Service fee – Premier
Premier AED 200  per month if eligibility criteria is not met
Premier AED 200 (AED 210 inclusive of VAT) per month if eligibility criteria is not met
Service fee - Advance
AED 100  per month if eligibility criteria is not met AED 100  (AED 105 inclusive of VAT) per month if eligibility criteria is not met
Penalty for insufficient funds for standing orders
AED 25
AED 25  (AED 26.25 inclusive of VAT)
Cheque returned drawn on the account (per instrument/cheque)
AED 100
AED 100  (AED 105 inclusive of VAT)
Personal Loan
Late Payment Charge 2% of the delayed amount with a minimum of AED 50 and maximum AED 140
2% (2.10% inclusive of VAT) of the delayed amount with a minimum of AED 50 (AED 52.5 inclusive of VAT) and maximum AED 140 (AED 147 inclusive of VAT)
Vehicle Loan
Late payment penal charges
2% of the delayed amount with a minimum of AED 50 and maximum AED 145 
2% (2.10% inclusive of VAT) of the delayed amount with a minimum of AED 50 (AED 52.5 inclusive of VAT) and maximum AED 145 (AED 152.25 inclusive of VAT)
Credit Cards

Late payment fee, per instance 
AED 230
AED 230  (AED 241.5 inclusive of VAT)
Returned Cheques
AED 100
AED 100  (AED 105 inclusive of VAT)
Amanah Personal Finance
Late Payment Fee 2% of the delayed amount minimum of AED 50 and maximum AED 200 
2% (2.10% inclusive of VAT)of the delayed amount minimum of AED 50 (AED 52.5 inclusive of VAT) and maximum AED 200 (AED 210 inclusive of VAT)
Amanah Home Finance
 
Delayed Payment Amount
AED 700
AED 700 (AED 735 inclusive of VAT)
Termination of the Ijarah lease
AED 2,500
AED 2,500 (AED 2,625 inclusive of VAT)

The updates to our Schedule of Services and Tariffs will take effect from 01 JUN 2019.

 

What do you need to do?

You should carefully review above changes to ensure that you understand the changes made and how they may affect you. 

If you have any questions about these changes, please contact us by visiting your nearest Branch or Customer Service Unit.