Bank Policies & Terms and Conditions
1.0 Eligibility & KYC Requirements
1.1 All applicants must be at least 18 years of age and provide valid identification.
1.2 Customers must comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.
1.3 Proof of residential address and recent passport-sized photograph are mandatory.
2.0 Minimum Balance & Deposits
2.1 A minimum opening balance as prescribed by the Bank must be maintained.
2.2 Failure to maintain the minimum balance may attract charges or lead to account suspension.
2.3 Deposits may be made in cash, cheque, or electronic transfer.
3.0 Customer Obligations
3.1 Customers shall provide accurate and updated information at all times.
3.2 The account shall not be used for fraudulent, illegal, or money-laundering activities.
3.3 Customers must promptly notify the Bank of any changes in contact details.
4.0 Dormant Accounts
4.1 Accounts with no activity for 6 months will be classified as dormant.
4.2 Dormant accounts may require reactivation procedures and supporting documents.
4.3 Service charges may apply on dormant accounts as per Bank policy.
5.0 Bank Rights & Liabilities
5.1 The Bank reserves the right to suspend or close any account found in breach of policies.
5.2 The Bank is not liable for losses arising from customer negligence, including lost credentials.
5.3 The Bank may report suspicious activities to regulatory authorities without customer consent.
6.0 Confidentiality & Data Protection
6.1 The Bank shall maintain the confidentiality of customer data in accordance with applicable laws.
6.2 Information may be shared with regulators or law enforcement as required by law.
6.3 Customers consent to the Bank’s use of data for compliance and service improvement.
6.4 The Bank affirms that no unauthorized deductions shall be made from customer accounts under any circumstances, except where mandated by applicable law or expressly authorized by the customer.
7.0 Account Closure
7.1 Customers may request account closure upon written notice and settlement of dues.
7.2 The Bank reserves the right to close any account without notice in cases of fraud or misuse.
7.3 Closure of accounts will follow applicable laws and regulations.
Novas Savings – Confidential Document | Your Trust, Our Union

Declaration & Signature
I hereby declare that the information provided is true and correct to the best of my knowledge. I agree to abide by the rules and regulations of Novas Savings as set out in the Bank Policies and Terms.

Acknowledgement
I, the undersigned applicant, acknowledge that I have read, understood, and agreed to the Bank Policies and Terms contained in this document. I accept to be bound by the same.

Agree to terms and conditions.