Term Deposit Account
Soneri Term Deposit Account is for customers who intend to retain their savings for a fixed period and earn a higher rate of profit. Term Deposit Account allows customers to save a fixed amount in Pak 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.
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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Term Deposits for 1 to 3 years tenure if withdrawn before completion of 1 year from the date of deposit, shall be subject to 1% early withdrawal surcharge on the principal amount withdrawn.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 dmount: PKR 25,000/-
Annualized rates of expected profit for different types of PLS deposits.
Effective: 1st June 2016
Period: 1st June – 31st December, 2016
Term Deposits (01/16 Scheme) Minimum Deposit Rs.25,000/-
|Tenure||Monthly Intervals||Quarterly Intervals||Six Monthly Intervals||Yearly Intervals||At Maturity|
|3 months||3.80 %||—||—||—||3.85 %|
|6 months||3.85 %||3.95 %||—||—||4.05 %|
|1 year||4.45 %||4.50 %||4.60 %||—||4.75 %|
|2 years||4.55 %||4.60 %||4.70 %||4.85 %||5.25 %|
|3 years||4.25 %||4.30 %||4.35 %||4.55 %||5.25 %|