• Within Bhutan (Tollfree Number): 8888; OR
•  Outside Bhutan: +975-77148888; OR
•  Mail ID: help@dk.bt.

1. 15 years and above
2.  Bhutanese citizen with a valid Citizenship Identity and Special residence permit;
3.  Non- Bhutanese with a valid work permit; and
4.  Active mobile number.

1.  Provide Nominee Details: It is mandatory to provide nominee details. Ensuring these details are up-to-date helps us manage your account more effectively.
2. Timely and Accurate Information: Furnishing timely and accurate information to us is essential for the smooth operation of your accounts and services.
3. Additional Information and Documents: When requested, kindly provide any additional information and documents necessary for account verification or service enhancement.
4. Keep MPIN and OTP Secure: Safeguard the confidentiality of your MPIN and OTP. For secure transactions, avoid involving third parties in account-related matters.
5. Authenticity of Transactions: Verify that all transactions and account activities are genuinely initiated by you. Avoid allowing others to open accounts or perform transactions on your behalf to maintain account security.
6. Review Account Statements: Regularly and promptly review your account statements. If you identify unfamiliar transactions or discrepancies, notify us immediately. This proactive step contributes to the accuracy and safety of your financial records.
7. Report Suspicious Activities: Should you encounter any suspicious transactions or activities on your account(s), promptly notify DK through email or our toll-free number. Your swift action aids in the identification and mitigation of potential risks.

1.  DK reserves the right to onboard, reject, disable, freeze, or terminate your account or transactions for any reasons, including security breaches or upon receiving factual information from the Royal Bhutan Police, courts, or regulatory bodies and as per our internal procedure and policies.
2. DK will not be held liable for transactions confirmed using the biometric authentication. You acknowledge that the biometric authentication serves as an authentication method with the same effect as your specimen signature, authorized signatory, or T-Pin.
3. You agree to hold DK and its employees harmless and fully indemnify them against any losses, damages, claims, expenses (including legal costs), or other consequences resulting from:

• DK’s actions performed in good faith based on your instructions;
• The cancellation of any or all of your Account(s) and/or Service(s);
• System or operation failures, acts of nature, or any other causes beyond DK’s reasonable control;
• Delays related to security processes carried out by us for fraud detection, anti-money laundering, sanctions, or to comply with applicable laws or regulations;
• Any transactions or leakages resulting from fraudulent conduct due to your actions, omissions, negligence, or willful defaults, whether by you or third parties; and
• Breach or non-adherence to the Terms and Conditions or any applicable laws on your part.

• We are required to do so by law;
• We suspect your account is being used for fraudulent or illegal purposes;
• We are concerned about the security of your account (for example if you have reported security details as lost or stolen);
• You do not act in accordance with these terms and conditions; and
• We become aware that account holder has died. This means that you will not be able to make any withdrawals from or deposits to your account. We will continue to pay interest on the credit balance in your account. We will only unblock access to your account, as relevant, when we are satisfied that:

1. You are permitted to do so by law; or
2. The circumstances set out in sub- clause(1 )no longer apply or otherwise as notified to you by us.

•  Required to do so by law;
• Your account is being used for illegal purposes;
• You are not keeping to these conditions or there is a dispute (which we reasonably believe may be genuine) about the ownership or entitlement to, the money held in your account; and
• If we refuse a transaction, we’ll contact you to let you know and explain why (unless it’s unlawful for us to tell you or it would compromise our security measures).

1. You do not act in accordance with these terms and conditions;
2. We have a good reason to think that you have been involved in fraudulent or criminal behavior’s;
3. You are threatening or abusive to any of our colleagues; or
4. As directed by regulatory and statutory agencies.

•  The account holder has nominated a person(s) of their choice for their savings account held with us.
• The account holder is allowed to nominate up to 5 Nominees via the DK Bank app.
• The total percentage share allocated to all nominee allocations must sum up to 100%.
• The account holder may update or change the nominee information using the DK Bank app.
• In the event that the Nominee predeceases the account holder(s), the account holder(s) shall be responsible for updating the nomination.

• By accessing or using our Electronic Services, you agree to comply with and be bound by this Agreement. If you do not agree with any provision of this Agreement, please do not access or use our Electronic Services.
•  This Agreement may be amended or updated by DK from time to time without notice. The most current version of this Agreement will be posted on our website or app, and your continued use of our Electronic Services after any changes constitutes your acceptance of the revised Agreement.

•  DK provides various Electronic Services, including but not limited to online banking, mobile banking, electronic statements, transaction alerts, and other services or facilities as determined by DK at its sole discretion.
• You may access and use our Electronic Services solely for your personal or authorized business purposes, subject to the terms and conditions of this Agreement and any applicable laws and regulations.
• DK reserves the right to modify, suspend, or discontinue any or all Electronic Services, or impose limits on their availability, at any time without prior notice.

• You are responsible for maintaining the confidentiality and security of your  account information, including any usernames, passwords, security codes, or  other credentials (“Security Codes”) used to access our Electronic Services. You agree not to share or disclose your Security Codes to any unauthorized person.
•  You agree to notify DK immediately of any unauthorized access or use of your account or any other breach of security.
• You are solely responsible for any electronic instructions, transactions, or activities conducted through your account using our Electronic Services, whether authorized by you or not. DK shall not be liable for any loss, damage, or unauthorized access resulting from your failure to comply with your security obligations.
•  You agree to provide accurate, complete, and up-to-date information when using our Electronic Services and to promptly update any changes to your information.

• All intellectual property rights in our Electronic Services, including but not limited to software, trademarks, logos, graphics, and content, are the property of DK or its licensors. You acknowledge that you have no right or license to use any of  DK’s intellectual property rights except as expressly authorized under this  Agreement.
• You may only use our Electronic Services for personal or authorized business purposes and may not reproduce, distribute, modify, or create derivative works  of any part of our Electronic Services without the prior written consent of DK.

•  DK respects your privacy and is committed to protecting your personal information. Our collection, use, and disclosure of personal information are governed by our Privacy Policy, which is incorporated into this Agreement by reference. By using our Electronic Services, you consent to the collection, use, and disclosure of your personal information as described in our Privacy Policy.
• You acknowledge and agree that electronic communications and transactions may involve the transmission of personal information over various networks, and  DK cannot guarantee the security or confidentiality of such transmissions. You  are responsible for taking appropriate measures to protect your own information and devices from unauthorized access or viruses.

•  To the extent permitted by applicable law, DK, its affiliates, directors, officers, employees, and agents shall not be liable for any direct, indirect, incidental, consequential, or special damages arising out of or in connection with your use of our Electronic Services, even if advised of the possibility of such damages.

•  DK may, in its sole discretion, suspend or terminate your access to our Electronic Services at any time for any reason, including but not limited to a breach of this Agreement or suspected fraudulent or unauthorized activities.
• Upon termination, all rights and licenses granted to you under this Agreement will immediately cease, and you must cease all use of our Electronic Services.

• This Agreement shall be governed by and construed in accordance with the laws of Bhutan. Any dispute arising out of or in connection with this Agreement shall be subject to the exclusive jurisdiction of the courts of Bhutan

•  This Agreement constitutes the entire agreement between you and DK regarding the subject matter herein and supersedes all prior or contemporaneous communications, whether oral or written. By accessing or using our Electronic Services, you acknowledge that you have read, understood, and agreed to be bound by this Agreement.

Purpose

To provide a loan for the purchase of a laptop.

Eligibility requirements of opening of individual account

1. Bhutanese citizen, 18 years and above having a valid citizen identification card and mobile number; and
2. Secured admission in colleges registered under Royal University of Bhutan (RUB), provided he /she is not a final year student.

SCHEME DETAIL

1. LOAN AMOUNT: As approved by DK
2. INTEREST RATE: 0%
3. SECURITY: No collateral required.
4. PROCESSING FEE: Nu. 0/-
5. 3.5 REPAYMENT PERIOD: 24 months, with repayment starting 2 years after graduation.

STUDENT’S (BORROWER) LIABILITY

1. Provide timely and accurate information to DK;
2. Provide additional information and documents when asked;
3. Inform DK and RUB if he/she is unable to complete his/her course within the original duration;
4. Fully responsible for any maintenance, damage or loss of the laptop;
5. Full repayment of the loan instalments throughout the loan period unless he/she decides to pay off the entire loan in one payment; and
6. Fully comply with the Terms and Conditions and any applicable laws.

DK’S RIGHTS, LIABILITY & INDEMNITY

1. The decision of DK on all matters relating to Laptop loan shall be final and binding;
2. After approving the loan, DK shall pay directly to the vendor (decided by DK) on behalf of the Student for the purchase of the Laptop;
3. DK will not be liable for the warranty of the laptop. The vendor will be solely liable for warranty and any other laptop servicing matters; and
4. DK has the right to prevent Student from taking another DK loan without notice or reason.

GENERAL TERMS AND CONDITION

1. The matters set out in these Terms and Conditions shall be final and binding for the Student.
2. DK reserves the right to amend these Terms and Conditions with or without the consent of the Student.
3. In case of any dispute arising between the parties (DK and Student) in connection with the validity, interpretation or implementation of these Terms and Conditions, the matter shall be resolved mutually to the extent possible. If a mutual resolution is not possible, the matter shall be referred to the Royal Court of Justice, Bhutan.

CONSENT CLAUSE

1. The Student hereby consent DK to disclose from time to time any information relating to the loan with the Credit Information Bureau (CIB) or other entities as required by the Law; and
2. The Student also authorized DK to make inquiries with CIB and get the applicants Credit Information Report.

5 September 2023, Version 1.0

Welcome to DK Bank! These terms and conditions govern the use of the Foreign Currency Saving Account, hereinafter referred to as “FCY” provided by DK Bank, herein after referred as “DK”. By opening an FCY account with DK, you agree to be bound by these terms and conditions. Please read them carefully.

1.Account Opening and Eligibility:

• Prerequisite for DK FCY Account Application: To apply for a FCY account, it is mandatory to have an active individual “ Local Currency ” savings account with DK. The details provided during the savings account application will be automatically populated into the FCY account application.

• Eligibility Criteria for Non-Resident Bhutanese (NRB) and Foreign Workers Employed by Bhutanese Entities: Individuals who are Bhutanese citizens residing outside Bhutan and foreign workers employed by Bhutanese entities are eligible to apply for a FCY account.

• Primary Identification Document: The primary identification document required for opening an FCY account is a valid Passport.

• Secondary Layer of Documentation: In the case of NRB and foreign workers, a secondary layer of documentation for validation is required. This shall include either of the following:

1. 1. Letter from Bhutanese Embassy / Ministry of Labor & Human Resources / Armed Forces; or
   2.  Letter from employer for employment abroad and Bhutan; or
   3. Letter from University/Educational Institution for education abroad; or
   4. Any supporting document for proof of residency abroad (phone bill/electricity bill/payslip, etc.).

2.Foreign Currencies Accepted:

• The FCY account mainly supports US Dollars (USD).

• DK reserves the right to add or remove, sunset or exit supported currencies at its discretion and without prior notice.

• Notwithstanding subclause 2.2, the outstanding balances will be automatically converted and credited to the customer’s local currency savings account if there is any remaining outstanding balance with the specific FCY account that the DK decides to remove, sunset, or exit.

3.Account Operations:

• Deposits: You may deposit funds in the chosen foreign currency into your FCY account.

• Withdrawals: You may withdraw funds from your FCY account by converting it to Bhutanese Ngultrum (BTN) as long as sufficient funds are available.

• Exchange Rates: All conversions between foreign currencies and your base BTN currency (also known as local currency) will be based on the current exchange rate set by Royal Monetary Authority of Bhutan. Exchange rates may fluctuate and are subject to change without notice.

• Interest: Interest rates, if applicable, will be determined by DK and may vary based on the currency and deposit term. The applicable interest rates will be communicated to you at the time of account opening or upon request, and may be changed at the sole discretion of the bank.

4.Account Statements:

• Regular Statements: Regularly and promptly review your account statements. If you identify unfamiliar transactions or discrepancies, notify us immediately. This proactive step contributes to the accuracy and safety of your financial records.

5.Taxation:

Tax Compliance: Account holders are responsible for complying with all relevant tax laws and reporting requirements concerning their FCY account and any income earned from it.

6.Account Security:

• Account Security Measures: You are responsible for safeguarding your account information, including login credentials, passwords, and any security devices provided by DK.
• Unauthorized Transactions: You must promptly notify DK if you suspect any unauthorized activity on your FCY account.

7.Nomination Clause:

As a default procedure, the nominee assigned to your Individual “Local Currency” Savings Account shall automatically be carried forward as the nominee for your FCY account.

8.Account Closure:

• Closure by Account Holder: We may close your account at any time upon your request. You can ask us to close your accounts by calling or writing to us. It is important to be aware that when you close your Local Currency savings account, your FC account will also be automatically closed.
• Closure by DK: DK reserves the right to close an FCY account in accordance with applicable laws and regulations or due to non-compliance with the following terms and conditions as specified herein. In such instances, the DK reserves the right to terminate the FCY account, with the remaining outstanding balances subject to conversion and refund in accordance with the DK’s internal procedure.

9.Amendments:

DK reserves the right to amend these terms and conditions at any time with prior notice. Amendments may be communicated through the DK Bank website, secure messaging, or other means as determined by DK.

10.Governing Law and Jurisdiction:

These terms and conditions shall be governed by and construed in accordance with the laws of Bhutan, and any dispute arising out of or in connection with this account shall be subject to the exclusive jurisdiction of the courts of Bhutan.

11.Additional Terms:

Access to our DK Bank app may require you to accept additional terms and conditions, which will apply to your use of specific products or services. Please review those terms and conditions on our website. Furthermore, the Individual local currency terms and conditions by default shall apply to you.