Circulars/Notifications  

 BPRD Circular No. 01 of 2012
April 13, 2012

The Presidents/Chief Executives
All Commercial Banks


Dear Sir/Madam,

MINIMUM RATE OF RETURN ON SAVING DEPOSITS

Please refer to BPRD Circular No.07 dated May 30, 2008 on the above subject wherein minimum rate of profit on all saving deposits was fixed 5.0% p.a.

2.        It has now been decided that the minimum profit rate would be 6.0% p.a on all Pak Rupee saving deposits with effect from May 01, 2012. It is further clarified that this rate of profit will be applicable on all existing and new saving deposits including term deposits.

3.         Other instructions on the subject shall remain the same. Any violation of the above instruction will render the bank liable for punitive action under the relevant provisions of the Banking Companies Ordinance 1962.

Please acknowledge receipt.



Yours truly,


Sd/

(Mansoor H. Siddiqui)
Director



 

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