INDICATIVE RATE OF PROFIT SHEET
FOR THE PERIOD FROM MAY 1, 2023 TO JUNE 30, 2023
Six monthly Profit Payment on Average Monthly Balance
Please see note below
| A | Saving Accounts | Individual | Corporate | Financial Institutions |
|---|---|---|---|---|
| PLS Saving Account | 19.50% | 19.50% | 19.50% |
Profit Payment on Daily Product on Monthly Basis
Please see note below
| B | SBML Saving Profitable Account | Rate |
|---|---|---|
| Deposits Rate | 19.50% |
Short Notice Deposit
| C | Deposit Period | Rate |
|---|---|---|
| 7-29 Days | 19.50% |
Profit Payment on Daily Product Paid on Monthly Basis
| D | SMBL Senior Citizen Account | Rate |
|---|---|---|
| Upto Rs.1,000,000/- | 19.50% | |
| Above Rs.1,000,000/- | 20.50% |
Term Deposits
Please see note below
| E | Tenure | Profit Payment on Maturity | Profit Payment on Monthly | Profit Payment on Quarterly | Profit Payment on Semi-Annually |
|---|---|---|---|---|---|
| 1 Month | 19.50% | – | – | – | |
| 3 Months | 19.75% | 19.50% | – | – | |
| 6 Months | 20.00% | 19.50% | 19.75% | – | |
| 1 Year | 20.00% | 19.25% | 19.50% | 19.75% |
Profit Payment on Monthly Basis
Please see note below
| F | Mahana Amadan | 3 Months | 6 Months | 1 Year |
|---|---|---|---|---|
| Individual | 19.50% | 19.50% | 19.75% | |
| Corporate | 19.50% | 19.50% | 19.75% | |
| Financial Institution | 19.50% | 19.50% | 19.75% |
Monthly Profit Payment on Average Balance
Please see note below
| G | Hamara Family Savings Account | Rate |
|---|---|---|
| Deposits Rate | 19.50% | |
| Additional Bonus (Note:11) | 1.00% |
Profit Payment on Monthly Basis
Please see note below
| H | Summit Advantage Account | 1 Year |
|---|---|---|
| Minimum Deposit Amount of Rs. 100,000/- and Maximum Deposit Amount of Rs.10,000,000/- |
19.50% |
Six Monthly Profit Payment on Average Monthly Balance
| I | Young Bee Children’s Savings Account | Rate |
|---|---|---|
| Deposits Rate | 19.50% |
Profit Payment on Daily Product Paid on Monthly Basis
| J | Summit Daily Stock Account | Rate |
|---|---|---|
| Deposits Rate | 19.50% |
Profit Payment on Daily Product Paid on Monthly Basis
| K | Summit Smart Stock Account | Rate |
|---|---|---|
| Deposits Rate | 19.50% |
Profit Payment on Daily Product Paid on Monthly Basis
| L | Summit Asaan Account | Rate |
|---|---|---|
| Deposits Rate | 19.50% |
Monthly Profit Payment on Average Monthly Balance
| M | Non Resident Pakistani Account | Rate |
|---|---|---|
| Deposits Rate | 19.50% |
| N | Foreign Currency Deposit Rates | |
|---|---|---|
| USD, EURO & GBP | 0.50% |
NOTES:
-
- Terms & Conditions applicable to the account may change from time to time. Zakat and income tax applicable as per govt. rules.
- All profit rates are in percentage per annum. These rates are indicative and subject to change.
- For relationship balances of Rs. 2.5 million and above, special rates can be quoted upon request.
- Minimum term deposit amount is Rs. 50,000 for Regular Term Deposits.
- Minimum balance of SMBL Saving Profitable Account is Rs.25,000 and all facilities to be charged to the customers
- In case of premature encashment of TDR, rack rate of the last completed period will be applied as per rack rate sheet of TDR booking time
- These rates will be applicable from May 01, 2023 for all Saving Accounts.
- For Term Deposits, these rates will be applicable immediately
- Minimum amount of deposit on Mahana Amdan Scheme will be Rs. 50,000/-.
- Minimum amount of deposit on Hamara Family Saving Account will be Rs. 5,000/-.
- 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.
- Financing facility available upto 70% of total deposit amount of Summit Advantage Account. Applicable markup rate shall be 19.50% p.a.In case of premature encashment of TDR, rack rate of the last completed period will be applied as per rack rate sheet of TDR booking time.