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This is a saving bank
product available for all females who are eligible to open a saving account as per
our Bank’s criteria. The account can be opened singly or jointly with husband. This
product is designed to attract procure deposit/savings of ladies particularly housewives
of expatriates & students.
The Main Features are:
- A customer can
open only one BOP Gharayloo Saving Account singly or jointly regardless of the branch.
In case it is found out that more than one account exists under this category, the
Bank reserves the right to recover & forfeit the profits paid or not to give
any profit.
- The account can
be opened with a minimum initial deposit of Rs.10,000/-. However in case average
deposit during the month falls below Rs.10,000/-, account maintaining charges shall
be levied as per Bank’s Schedule of Charges
- The profit slab
is as follows:
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Minimum monthly balance
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*
Expected rate of profit
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Rs. 0
upto
10,000/-
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Normal PLS SB declared rate
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Rs.10,001 upto 250,000/-
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7.25 % p.a.
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* This product
is governed under PLS rule of Profit & Loss sharing system. The rates mentioned are expected and the
Bank reserves the right to review/revise the profit rates quarterly.
- Maximum profit
@ 7.25 % p.la. shall be paid on minimum monthly deposit upto Rs.250,000/- but over
Rs.10,000/-. Deposit can exceed Rs.250,000/- but no profit will be paid on balance
over and above Rs.250,000.
- The profit will
be calculated on monthly basis based on the minimum monthly balance maintained by
the customer during that particular month.
- The profit will
be credited on monthly basis in the respective account.
- Profit once disbursed
will not be recovered in case of decrease in rate at the time of announcement of
Half Yearly profit rates. However in case of rise in profit rate the difference
amount will be paid.
- Existing females
account holders can also open account under this scheme.
- In case they wish
to close their existing PLS or other account, same may be allowed without deducting
account closure charges
- Zakat will be
deducted as per law like any other saving/profit bearing account.
- Withholding tax
will be deducted from the profit as per law in force.
- Preferably PLS
SB joint a/c should be opened with special instructions of “Either or Survivor”
which must be jointly authenticated under full signatures of the Joint A/c holders.
- Unlimited transaction
(debit/credit).
- Free complimentary
issuance of first ATM/Debit Card
- 25 % reduction
in rental charges of small or medium locker subject to availability
- Priority banking
especially in utility bills payment, counter service etc
- The product carries
all characteristics/conditions pertaining to PLS SB account i.e. issuance of DD/TT/MT/PO
etc as per Bank’s Schedule of Charges except payment of profit which shall be paid
on monthly basis on minimum monthly deposit upto Rs.250,000/- only as per admissible
rates shown against each minimum monthly balance
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