Rack Rate Sheet | Summit Bank

Rack Rate Sheet

INDICATIVE RATE OF PROFIT SHEET
FOR THE PERIOD FROM JULY 01, 2017 TO DECEMBER 31, 2017

Six monthly Profit Payment on Average Monthly Balance

Please see note below

A Savings Accounts Individual Corporate Financial Institutions
PLS Savings Account 3.75% 3.75% 3.75%

Profit Payment on Daily Product on Monthly Basis

Please see note below

B Savings Profitable Account Rate
Deposits Rate 3.75%

Short Notice Deposit

C Deposit Period Rate
7-29 Days 3.25%

Profit Payment on Daily Product Paid on Monthly Basis

D Senior Citizen Account Rate
Upto Rs.1,000,000/- 5.25%
Above Rs.1,000,000/- 5.75%

Term Deposits

Please see note below

E Tenure Profit Payment – Maturity Profit Payment – Monthly Profit Payment – Quarterly Profit Payment – Semi-Annually Profit Payment – Annually
1 Month 3.25% 0.00% 0.00% 0.00% 0.00%
3 Months 3.50% 3.25% 0.00% 0.00% 0.00%
6 Months 3.75% 3.35% 3.50% 0.00% 0.00%
1 Year 4.25% 3.50% 3.75% 4.00% 0.00%
2 Years 5.00% 3.75% 4.25% 4.50% 4.75%
3 Years 5.25% 4.25% 4.50% 4.75% 5.00%
4 Years 5.75% 4.75% 5.00% 5.25% 5.50%
5 Years 6.25% 5.25% 5.50% 5.75% 6.00%

Profit Payment on Monthly Basis

Please see note below

F Mahana Amdan 3 Months 6 Months 1 Year 2 Years 3 Years
Individual 3.25% 3.35% 3.50% 3.75% 4.25%
Corporate 3.25% 3.35% 3.50% 3.75% 4.25%
Financial Institution 3.25% 3.35% 3.50% 3.75% 4.25%

Monthly Profit Payment on Average Balance

Please see note below

G Hamara Family Savings Account Rate
Deposits Rate 3.75%
Additional Bonus (Note:11) 1.00%

Profit Payment on Monthly Basis

Please see note below

H Advantage Account 1 Year
Minimum Deposit Amount of Rs. 100,000/- 5.25%
and Maximum Deposit Amount of Rs.10,000,000/-

Six Monthly Profit Payment on Average Monthly Balance

I Young Bee Children’s Savings Account Rate
Deposits Rate 3.75%

Profit Payment on Daily Product Paid on Monthly Basis

J Daily Stock Account Rate
Deposits Rate 3.75%

Profit Payment on Daily Product Paid on Monthly Basis

K Smart Stock Account Rate
Deposits Rate 3.75%

Profit Payment on Daily Product Paid on Monthly Basis

L Asaan Account Rate
Deposits Rate 3.75%

Monthly Profit Payment on Average Monthly Balance

M Non Resident Pakistani Account Rate
Deposits Rate 3.75%
N Foreign Currency Deposit Rates
USD, EURO & GBP 0.50%

NOTES:

  1. Terms & Conditions applicable to the account may change from time to time. Zakat and income tax applicable as per govt. rules.
  2. All profit rates are in percentage per annum. These rates are indicative and subject to change.
  3. For relationship balances of Rs.5 million and above, rates can be quoted upon request.
  4. Minimum term deposit amount is Rs.50,000 for Regular Term Deposits.
  5. Minimum balance of SMBL Saving Profitable Account is Rs.25,000 and all facilities to be charged to the customers.
  6. In case of premature encashment, no penalty will be charged and the profit will be paid at the rack rate (TDR actually booked ) of last completed tenor on the broken period.
  7. These rates will be applicable from July 01, 2017 for all Savings Accounts.
  8. For Term Deposits, these rates will be applicable for all deals booked from July 01, 2017.
  9. Minimum amount of deposit on mahana amdan scheme will be Rs. 50,000/-.
  10. Minimum amount of deposit on Hamara Family Saving Account will be Rs. 5,000/-.
  11. Additional 1% will be given if average 6 monthly balance is maintained at Rs. 100,000/- collectively on all family accounts. Profit will be distributed on actual share of family members and payable bi-annually.
  12. Financing facility available upto 70% of total deposit amount of Summit Advantage Account. Applicable markup rate shall be 5.25% p.a. In case of premature within six months no profit will be paid, while premature after six months rack rates of 3.75% shall be applied.

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Last Updated 2017-11-09


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