Features minimum account opening balance of rs50000

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Features Minimum account opening balance of Rs.50000 No minimum balance maintenance requirement Profit calculated on the average monthly balance of the account and credited to the account on the first of every calendar   month Profit payments are subject to deduction of withholding tax as per government rules Term Deposits: 1. Term Deposit Receipt (TDR) TDRs are placed for a pre-specified fixed term and are mainly distinguished on the basis of their tenor, profit payment frequency, and applicable rate of return. Askari Bank presently offers TDRs for the following tenors: 1 month 2 month 3 month pg. 40
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6 month 1 year 2 year 3 year 5 year Eligibility Placement of funds in TDR is accepted from existing account holders only. Customers include individuals (either singly or jointly), proprietorship concerns, partnership firms, public and private limited companies (including guarantee limited & single member companies) government organization, corporations etc. Features Profit on TDRs is paid on completion of its prescribed term or pre-determined profit payments frequently Customers may request to roll-over the entire TDR amount (with or without profit) or a part thereof, for a similar term The rate of profit applicable to TDRs is declared by the bank after the end of each half-year, ending on June 30 and December 31 TDRs are subject to deduction of Zakat as per the Zakat & Ushr Ordinance of 1980 Profit payments on TDRs are subject to deduction of withholding tax as per government rules 2. Short Notice Deposit Receipt (SNDR) SNDR is used for placement of funds for a short period, ranging from 7 to 29 days. Eligibility Placement of funds in SNDR is accepted from existing account holders only. Customers include individuals (either singly or jointly), proprietorship concerns, partnership firms, public and private limited companies (including guarantee limited and single member companies) government organizations, corporations etc. Features SNDRs can be booked with a minimum balance of Rs.5000 Profit on SNDRs is paid upon maturity If not en cashed by the customer, SNDRs are rolled-over for a similar term pg. 41
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3.Paishgi Munafa Account: Askari Paishgi Munafa Account is a unique term deposit designed to meet the immediate financi al needs of individual investors who want to invest funds for the medium term. Now you don’t h ave to wait the entire term to receive your profit. The most significant feature of this product is th at the customer receives the entire profit upfront at the time of placement. So you can fulfill your financial needs today without depleting your savings. / Features Details Product Type: Term Deposit Eligibility: Pakistani Resident (Individual) Minimum Amount: Rs100,000/- or in multiples of Rs100,000/- Expected Rate of Return: 4.25% per annum Tenure: 15 months Benefits: Financing facility up to 80% of principal amount Free Visa Debit Card issuance No minimum balance requirement in checking account 2 free pay orders in a month (Withholding tax and other
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