BOP Ziada Munafa Saving Account
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This is a saving bank product available for general public i.e. persons who are eligible to open a saving account as per our Bank’s criteria. The account can be opened singly or jointly. This product is designed to attract procure deposit/savings of general public particularly salaried and small investors.
A customer can open only one BOP Ziada Munafa 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:
Rs. 0 upto 400,000/-
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Normal PLS SB rate
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Rs.400,000 upto 500,000/-
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7.5 % p.a.
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Over Rs.500,000
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Normal PLS SB rate
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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 @ 7.5 % p.a. as per different slabs shall be paid on minimum monthly deposit upto Rs.500,000/-Deposit can exceed Rs.500,000/-
however, profit will be paid at normal PLS-SB-Account rate on amount over and above Rs.500,000.
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 half yearly basis in the respective account as per rules of PLS SB.
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.
The product carries all characteristics/conditions pertaining to PLS SB account including payment of profit on half yearly basis i.e. issuance of DD/TT/MT/PO etc as per Bank’s Schedule of Charges on minimum monthly deposit as per admissible rates shown against each minimum monthly balance.