Soneri Term Deposits are for customers who intend to retain their savings for a fixed period and earn a higher rate of profit. Term Deposits allow customers to save a fixed amount in Rupees for a set period ranging from 1 month to 3 years at attractive profit rates. The depositor has the option to reinvest the deposit automatically with or without profit.
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At maturity, the deposit can be renewed for the same tenure at the prevailing profit rate, unless instructed otherwise.
Term Deposits for 1 to 3 years tenure if withdrawn before completion of 1 year from the date of deposit, shall be subject to 1% early withdrawal surcharge on the principal amount withdrawn.
Running Finance Facility
You can use your Term Deposit Account as collateral to apply for Running Finance facility:
- Withholding tax applies on all cash withdrawals over Rs.50,000/- and 10% withholding tax on profit credited into account
- Zakat is applicable on Term Deposit Account, however Zakat exemption forms are accepted. Minimum deposit amount: PKR 25,000/-
For Profit Rates please Click Here