Soneri PKR Term Deposit is for customers who intend to retain their savings for a fixed period and earn a higher rate of profit. It 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.
At maturity, the deposit can be renewed for the same tenure at the prevailing profit rate, unless instructed otherwise.
Premature encashment of a time deposit will cause reduction in rate of return by 150bps.
You can use your Term Deposit as collateral to apply for Running Finance facility:
10% withholding tax will be applicable on profit credited into account
Zakat is applicable on Term Deposit; however, Zakat exemption forms are accepted.