Soneri Monthly Munafa Account

It is a Term Deposit which offers tenures ranging from 1 year to 5 years with monthly profit payment through allied current or saving account of the customer, offering lucrative rate of return.

Features

Currency

PKR

Type

Term

Minimum Deposit

25,000

Maximum Deposit

No limit

Nature of Linked Account

Any Soneri Current or Saving Account

Facilities

This term deposit shall be linked to a current or saving account offering the same facilities as existing Soneri current or saving account. Moreover, subject to the bank’s internal credit assessment, financing facility of up to 90% is allowed to deposit holder.

Note

Pre mature encashment of a time deposit ill cause reduction in rate of return by 150 bps.

Roll-overs of TDR deposits shall be in accordance with prevailing rate sheet.

Payment of profit is subject to compulsory deduction of Withholding Tax at the time of profit payment.

Any exemption from the withholding tax on profit will be subject to provision of Exemption Certificate or otherwise allowed under the prevalent tax laws and regulations.All applicable taxes including WHT, FED and other taxes levied from time to time shall be applicable.

This investment is subject to compulsory deduction of Zakat under Zakat & Ushr Ordinance 1980. On 1st Ramadan each year i.e. valuation date Zakat @2.5% on the principal amount shall be deducted. For exemption of Zakat deduction submit valid exemption certificate at least one month prior to the valuation date of Zakat.

Profit Rate Sheet