Terms and Conditions for the Blink Fixed Deposit Account
Bank: Capital Bank of Jordan.
Blink: A trademark owned by Capital Bank of Jordan.
Customer: A natural person who is a Jordanian citizen or a legal resident of the Hashemite Kingdom of Jordan.
1. Account Opening and Confirmation
Upon opening a fixed deposit account with Blink and obtaining the Bank’s final approval, the Bank shall issue a confirmation setting out the deposit amount, term and the applicable fixed interest rate.
Interest shall be paid upon maturity of the deposit in accordance with the deposit term selected by the Customer and subject to the terms and conditions approved by the Bank.
2. Automatic Renewal and Maturity of the Deposit
• Where the Customer selects the automatic renewal option, the deposit shall be automatically renewed on the maturity date for the same term and at the interest rate then applicable by the Bank. The Bank shall notify the Customer of the deposit maturity date and its renewal five (5) business days prior to the maturity date through the Bank’s approved communication channels, such as SMS messages, in-app notifications, or any other means of communication. The Customer shall have the right to cancel the automatic renewal option before the maturity date in accordance with the procedures approved by the Bank.
• Where the Customer selects the automatic renewal option, the Customer may determine the method of renewal, either by renewing the original principal amount of the deposit only, or by renewing the original principal amount together with the interest accrued and payable as of the maturity date, according to the Customer’s selection.
• Where the Customer does not select the automatic renewal option, the original principal amount of the deposit, together with the interest accrued and payable up to the maturity date, shall be transferred on the maturity date to the Customer’s linked account with the Bank.
3. General Terms:
• The Bank reserves the right to reject any deposit, set minimum and maximum deposit amounts, or return any blocked amount, in whole or in part, to the Customer’s account, with notice to the Customer.
• No additional deposits may be made into the account during the fixed deposit term. To deposit additional funds, the Customer must open a new fixed deposit account.
• Early Withdrawal: The Customer may withdraw the full amount from the account before the maturity date. In such cases, a premature withdrawal penalty shall apply to the interest accrued on the deposit in accordance with the Bank’s prevailing policies, without affecting the original principal amount of the deposit. Partial withdrawals from the fixed deposit account are not permitted during the deposit term.
4. Interest Rates
The applicable interest rates shall be those set out in the Bank’s interest rate schedule in effect at the time the fixed deposit account is opened. The interest rate shall remain fixed for the selected term and shall not change until maturity. The Bank reserves the right to amend the interest rates applicable to new deposits, without affecting existing deposits until their respective maturity dates.
5. Disclaimer and Compliance
The Customer acknowledges that the execution of any request, notice, renewal or transfer may be delayed or rendered impossible due to circumstances beyond the Bank’s control, including technical failures, interruptions to communication networks or systems, force majeure events, or regulatory or judicial decisions or measures. Where reasonably practicable, the Bank shall notify the Customer of such delay or inability to execute and the reasons therefor.
6. Acknowledgement and Acceptance of Terms and Instructions
By opening the fixed deposit, the Customer acknowledges that they have read, understood and agreed to these Terms and Conditions, and undertakes to comply with all applicable legislation and the Bank’s prevailing policies and instructions.
• No additional deposits may be made into the account during the fixed deposit term. To deposit additional funds, the Customer must open a new fixed deposit account.
• Early Withdrawal: The Customer may withdraw the full amount from the account before the maturity date. In such cases, a premature withdrawal penalty shall apply to the interest accrued on the deposit in accordance with the Bank’s prevailing policies, without affecting the original principal amount of the deposit. Partial withdrawals from the fixed deposit account are not permitted during the deposit term.
4. Interest Rates
The applicable interest rates shall be those set out in the Bank’s interest rate schedule in effect at the time the fixed deposit account is opened. The interest rate shall remain fixed for the selected term and shall not change until maturity. The Bank reserves the right to amend the interest rates applicable to new deposits, without affecting existing deposits until their respective maturity dates.
5. Disclaimer and Compliance
The Customer acknowledges that the execution of any request, notice, renewal or transfer may be delayed or rendered impossible due to circumstances beyond the Bank’s control, including technical failures, interruptions to communication networks or systems, force majeure events, or regulatory or judicial decisions or measures. Where reasonably practicable, the Bank shall notify the Customer of such delay or inability to execute and the reasons therefor.
6. Acknowledgement and Acceptance of Terms and Instructions
By opening the fixed deposit, the Customer acknowledges that they have read, understood and agreed to these Terms and Conditions, and undertakes to comply with all applicable legislation and the Bank’s prevailing policies and instructions.