The Presidents/ Chief Executives,

All Commercial Banks

Dear Sirs/Madam,

Minimum Rate of Return on Saving Deposits and SBP Repo Rate

1. Please refer to BPRD Circular No. 7 dated September 27, 2013.
2. The clause 2(iii) of the above referred circular has been amended as under:

“Effective from June 1, 2014, Minimum Profit Rate, on average monthly balances, shall be applicable on all new and existing Savings products (including any other profit bearing deposits with no fixed maturity) except term deposits”.

3. All other instructions issued vide above referred Circular shall remain unchanged.

Please acknowledge receipt.