Rupee Term Deposit Accounts
Introduction
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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Features
Automatic Renewals
At maturity, the deposit can be renewed for the same tenure at the prevailing profit rate, unless instructed otherwise.
Premature Encashment
Term Deposits for 1 to 3 years tenure if withdrawn before completion of 1 year from the date of deposit, shall be subject to 1% early withdrawal surcharge on the principal amount withdrawn.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/-
Profit Rates
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