Schedule of Charges and Fees Tenth Edition: Effective from 13th January 2019

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This is not an exhaustive list of charges and there may be additional services provided by the Bank from time to

1 Schedule of Charges and Fees Tenth Edition: Effective from 13th January 2019 Terms & Conditions apply All charges are subject to change at the discretion of Bank of Maldives PLC. This is not an exhaustive list of charges and there may be additional services provided by the Bank from time to time for which separate charges may be applicable. For any clarification, please feel free to contact your Branch Manager or Relationship Manager. Page 1 of 9

2 Table of Contents 1.0 Account Services Deposit Profit Rates Transfers and Payments Card Services Financing Rates Financing Facility Charges, Fees and Penalties Page 2 of 9

3 1.0 Account Services 1.1 PERSONAL AND BUSINESS ACCOUNTS MVR USD Personal 1 and Expatriate 2 Accounts Initial Deposit Minimum balance Kids Saver Account Initial Deposit Minimum Balance Business Accounts 3 Initial Deposit Minimum balance ,000 2,000 Monthly Maintenance Fee Expatriate accounts 75 Inactive accounts 4 50 Cheque book Issuance Fee (per leaf) Cheque Return Fee (Insufficient funds and incorrectly drawn cheques) Stopped cheque (per request) Standing Orders (per transaction) 50 5 Photocopy of paid cheques (per cheque) 50 5 Statements of accounts Fee (per calendar month) 5 Maximum Fee (Up to one year) Account closing fee 25 3 Fee on regulatory enforced payments Counter Withdrawals / Deposit Fees 5, Deposit of USD notes of $5 and below - 3% Deposit or encashment of foreign currency notes (except USD) % (Minimum MVR 5) % (Minimum equivalent to MVR 5) All types of bank references Balance confirmation charge Notes 1. Personal Account can either be a Savings Account or a Current Account 2. Expatriate Account can only be a Current Account 3. Business Account can only be a Current Account 4. Inactive Accounts are accounts which have not experienced any activity from the customer or a depositor over a period of 24 months. 5. For Senior Citizens counter withdrawal/deposit fees and statement fees are of Charge 6. Counter Withdrawal and Deposit fees are charged for each transaction of value less than or equal to MVR 25,000 or USD 1,600 and to all cheque deposits to personal accounts irrespective of the amount (not applicable for branches on islands where Self-Service Banking is not available). Page 3 of 9

4 2.0 Deposit Profit Rates 2.1 SAVINGS ACCOUNT MVR USD Expected profit on Savings Account 1.5% p.a. 1.00% p.a. 1.25% p.a. Expected profit on Kids Saver Account 2.00% p.a. 1.50% p.a. Notes Profit is calculated daily on cleared funds less MVR 5,000 for Rufiyaa Accounts and less USD 1,000 for US Dollar Accounts at an anticipated rate of 1.50% p.a. and 1.00% p.a. respectively. If the balance falls to MVR 5,000 or USD 1,000 or below, no profit is calculated for that day. For amounts exceeding USD 50,000 in US Dollar Accounts, anticipated profit is calculated daily at the rate of 1.25% p.a. If the number of debit transactions within a month exceeds 5, no profit is paid for that month. POS transactions will be excluded when counting the number of debit transactions. Profit is credited to Savings Accounts annually on 31 st December. Kids Saver Account profit will be paid on balances above MVR 500 and USD 20 on 31 st December. No profit is paid for Business and Current Accounts. 2.2 GENERAL INVESTMENT ACCOUNT MVR Expected Profit Rates 6 months (p.a.) 12 months (p.a.) 10,000 to 50, % 1.70% 50,001 to 1,000, % 1.80% 1,000,001 to 5,000, % 1.90% 5,000,001 to 10,000, % 2.00% Above MVR 10 million please refer to your Branch Manager or Relationship Manager USD Expected Profit Rates 6 months (p.a.) 12 months (p.a.) 5,000 to 50, % 1.45% 50,001 to 100, % 1.55% 100,001 to 250, % 1.65% 250,001 to 1,000, % 1.75% Above USD 1 million - please refer to your Branch Manager or Relationship Manager Note Savings and General Investment accounts are based on the contract of Wakalah bil Isthismar (investment agency) and hence profit rates are indicative and not guaranteed. Any profits earned above the anticipated profit are considered as Wakalah fee for the Bank. Early withdrawal from the General Investment Account is at the Bank s discretion and no profit will be paid. An early withdrawal fee ( Takharuj) of 1% on the principle will be collected for early withdrawal of MVR 1.5 million / USD 100,000 or above at the end of the tenor. The Bank may exercise the right to waive the fee, if funds are not withdrawn before the end of the tenure. Page 4 of 9

5 3.0 Transfers and Payments 3.1 LOCAL FUND TRANSFERS THROUGH RTGS AND ACH MVR USD BML to BML 1 Outward transfer (over the counter) 50 5 Outward transfer through BML Internet / Mobile Banking Inward transfer Please refer to section 1.0 (Counter charges may apply) RTGS: Real Time Gross Settlement ACH: Automatic Clearing House 3.2 SWIFT/TELEGRAPHIC TRANSFER (TT) OVERSEAS USD Commissions Over the counter 2 BML Online Banking 2 Minimum Maximum 0.70% 0.50% SWIFT/Telex charge 15 Correspondence bank charges for USD transfers 15 Correspondence bank charges for other currency transfers except USD Cancellation (each message) Customers must have USD balances in their accounts Actual 3.3 INWARD REMITTANCE (TELEGRAPHIC TRANSFERS FROM OVERSEAS) USD Commission - up to USD 10, Commission - USD 10,001 to USD 100, Commission - above USD 100, ISSUANCE OF CASHIER S CHEQUE/ BANK DRAFTS MVR USD Commission Issuance Minimum Maximum 0.50% 25 3, % 5 Stop payment of Drafts - foreign bank charges - Actual Stop payment of Drafts - SWIFT charge (each message) - 15 Foreign bank charges for issuance of Euro Drafts (in addition to issuance commission) - EUR 5 Cancellation of Drafts - 2 Page 5 of 9

6 3.5 TRANSFER OF SALARIES/DIRECT DEBITS MVR USD Commission for: Salary transfer for Government of Maldives employees Salary transfer for others (per transaction) 5 Equivalent to MVR 5 Direct Debit (each debit) 10 Equivalent to MVR BML CHEQUES RECEIVED FOR COLLECTION FROM FOREIGN BANKS USD Commission Minimum SWIFT/Telex charge 15 Courier 40 Cheques returned due to insufficient funds (per cheque) 30 Note: Payment against cheques drawn on BML branches received on collection from foreign banks will be paid either by issuing a Draft or via SWIFT transfer depending on the payment instructions received from the remitting bank and charges will apply accordingly. 1% Card Services 4.1 BML ISLAMIC VISA CARD ISSUANCE AND SERVICE FEES MVR USD Joining fee / Annual fee Card replacement fee PIN replacement fee 50 5 Sales slip retrieval/charge back processing fee (for each disputed transaction) ATM FEES MVR Cash withdrawal fee BML Islamic Cards on BML ATMs Cash withdrawal fee - Non-BML Cards on BML ATMs 100 Cash withdrawal fee - BML Islamic Cards on Non-BML ATMs 0.5% (Minimum MVR 25) Balance Inquiry BML Islamic Cards on BML ATMs Balance Inquiry BML Islamic Cards on Non-BML ATMs BML ONLINE BANKING MVR Internet banking registration fee Initial token fee for new application (optional) Additional token/token replacement fee (optional) 100 Note: Online Banking refers to Internet Banking and Mobile Banking Charges apply to fund transfers (please refer to charges under Transfers and Payments) Page 6 of 9

7 4.4 CROSS-BORDER TRANSACTION FEE Cross-border Card Transactions effected in currencies other than Billing Currency (MVR or USD) will be debited to your account after conversion into your card Billing Currency at an exchange rate determined by the respective Card network. This exchange rate is applied on the date the Card Transaction is posted to the Account and may be different from the rate in effect on the date of the Card Transaction. All cross-border transactions processed will be subject to a fee of maximum 10% on the transaction amount. 4.5 MERCHANT DISCOUNT RATE MVR USD BML Debit Cards and BML Pre-paid cards Up to 2.5% Up to 2.5% Visa/ MasterCard / Union Pay /Diner and Discover 2.5% to 3.5% 2.5% to 3.5% American Express 3.0% to 4.0% 3.0% to 4.0% Note: Merchant Discount is a commission paid by the Merchant to the bank and not charged to the cardholder. This rate varies depending on the merchant volume and type of business. 4.6 PAYMENT GATEWAY MVR USD Set-up Fee (one-time) 15,000 1,000 Maintenance Fee 750 per month 50 per month Note: In addition the Merchant Discount applies for transactions through Payment Gateway. All Fees and commission are charged to the Merchant and not to the cardholder. 4.7 POS CASH WITHDRAWAL FEE MVR Cash withdrawal through BML agents Financing Rates Financing rates are structured as base rate plus margin, the applicable margin will be specified in the financing documents. 5.1 BML ISLAMIC BASE RATE MVR USD Base Rate 10% p.a. 9.5% p.a. 5.2 HOUSING FINANCE LEASING RATES (MVR) Minimum Rate Maximum Rate Home Purchase Financing Base Rate p.a. Base Rate + 1% p.a. Home Construction Financing Base Rate + 0.5% p.a. Base Rate % p.a. Real Estate Financing Base Rate + 1% p.a. Base Rate +1.75% p.a. Note: Financing rates on Housing Finance vary based on the equity invested. Page 7 of 9

8 5.3 PERSONAL FINANCING FACILITIY PROFIT RATES (MVR) Secured Unsecured Up to MVR 15,000 BML Islamic Personal - Base Rate % p.a. Financing Up to MVR 50,000 Base Rate + 8% p.a. Base Rate % p.a. Up to MVR 100,000 Base Rate + 5% p.a. 5.4 GENERAL FINANCING FACILITIY PROFIT RATES MVR USD BML Islamic General Finance Base Rate + up to 2.75% p.a. Base Rate + up to 4.5% p.a. 6.0 Financing Facility Charges, Fees and Penalties. Fee Type Description Fee percentages MVR Minimum USD Application fee 1 Processing fee 2 Extension fee 3 Amendment fee Charged on all Housing Finance applications. Maximum charges for processing all approved Housing Finance Facilities & General Finance Facilities. Charges will be levied in sanctioned currency with respect to the applicable tiers. Charged for processing all approved term extensions for Housing Finance facilities & General Finance Facilities Charged for processing all approved facility amendments not involving term extensions. MVR 1,000 for Home Purchase Financing and Home Construction Financing, MVR 1,500 for Real Estate Financing Up to 1,000,000 : MVR 15,000 1,000,001 2,000,000 : MVR 30,000 2,000,001 3,000,000 : MVR 45,000 3,000,001 4,000,000 : MVR 60,000 4,000,001 5,000,000 : MVR 75,000 5,000,001 6,000,000 : MVR 90,000 6,000,001 7,000,000 : MVR 105,000 7,000,001 8,000,000 : MVR 120,000 8,000,001 9,000,000 : MVR 135,000 9,000,001 10,000,000 : MVR 150,000 10,000,001 15,000,000 : MVR 225,000 15,000,001 20,000,000 : MVR 300,000 20,000,001 30,000,000 : MVR 450,000 30,000,001 40,000,000 : MVR 600,000 40,000,001 50,000,000 : MVR 750,000 Above 50,000,000 : MVR 1,000,000 1,000-5, % of the outstanding amount 1, % of the outstanding financing amount 1, Page 8 of 9

9 Revaluations Description Revaluation Rate Prepayment revaluation (Applicable to all Diminishing Musharaka Contracts) Overdue revaluation (Applicable to all Diminishing Musharaka Contracts) Payable on prepayments above MVR 1 million/ USD100,000 (for prepayments earlier than 60 days before the due date) From day 1 up to 89 th day From 90 th day onwards 2% of the prepaid amount for capital redemption Capital redemption price will be increased by an amount calculated at 10% p.m. (120% p.a.) over the sanctioned profit rate on overdue lease payments and capital redemptions. Capital redemption price will be increased by an amount calculated at 5% p.a. over the sanctioned profit rate on the entire outstanding lease payments and capital redemptions. Penalties Description Percentage for all financing and advances MVR Minimum Fee USD Project delay Penalty 4 Charged on a quarterly basis on unutilized amount above MVR 1 million / USD 100, % per quarter on unutilized amounts 15,000 1,500 Overdue Penalty 5 Levied on overdue Personal Financing facilities from 90 th day onwards Additional 5% p.a. above the approved sanctioned profit rate on entire outstanding balance. - - Levied on all financing facilities except Personal Finance From day 1 up to 89th day: Additional 10% per month over the sanctioned rate on the overdue amount. From 90th day onwards: Additional 5% p.a. above the approved sanctioned rate on outstanding balance - - Notes 1. Applicable only to Home Purchase Financing, Home Construction Financing and Real Estate Financing. i) Fee to be paid to bank at the time of application. ii) Fee will not be refunded even if application is rejected. 2. Applicable to all Housing Finance facilities and General Finance facilities when sanctioned depending on the work done by the Bank for processing each disbursement. This fee varies depending on the size of the project. 3. Applicable on processing all approved facility amendments involving an increase in term of the financing facility: charged on the outstanding amount of financing facility for the work done by the Bank for processing the extension, including evaluation of the credit standing of the customer and further scrutiny of the reasons for requesting the extension, legal fee and additional site inspections. This process will result in a new contract which will terminate and replace the previous contract. This fee will not be applicable to Murabaha based financing arrangements. 4. The penalty will be charged only on the amount that has not been utilised in that particular quarter as per agreed project schedule or payment schedule between the customer and the bank, which indicates significant project delays as per the agreed disbursement schedule between the customer and the bank. 5. All penalties levied and all contributions to the Bank s Charity Fund undertaken by the customer as per the facility terms, will be unconditionally paid to the BML Islamic s Charity Fund, and the fund will not be used by the Bank for its own purposes either directly or indirectly and will be used for charitable purposes only. Exceptions The above charges and fees may be exempt or vary for financing facilities approved under special schemes. Page 9 of 9

Schedule of Charges and Fees Twenty-Fourth Edition: Effective from 1st March 2019

Schedule of Charges and Fees TwentyFourth Edition: Effective from 1st March 2019 Terms & Conditions apply All charges are subject to change at the discretion of Bank of Maldives PLC. This is not an exhaustive