- OVERVIEW
- FEATURES
- ELIGIBILITY CRITERIA
- FAQs
This scheme is to facilitate senior citizens and pensioners to generate monthly income as the scheme guarantees a fixed return for a particular period.
KEY FEATURES
- Age limit 60 years and above in case of joint account one partner must be senior citizen.
- Monthly profit payment
- Financing facility up to 90% of the deposited amount on request*
- Minimum investment PKR 50,000
- Free issuance of FWBL master Card*
* Terms and Conditions apply
- Senior Citizens & Pensioners
Who can invest in Senior Citizen/Pensioners TDR?
Any person of age bracket 60 years or above. Any Joint account holder where at least one person is of age bracket 60 years or above.
What is the maturity period of Senior Citizen/Pensioners TDR?
Senior Citizen/Pensioners TDR are available in one year and two-year tenor.
Is there any deposit limit in Short Term Savings Certificates?
Yes, minimum deposit limit is Rs. 50,000/- rupees but no limit in maximum investment.
When I get the profit?
The scheme offers monthly profit payment.
What are the modes of deposits in Senior Citizen/Pensioners TDR?
Senior Citizen/Pensioners TDR can be purchased by depositing cheque/ draft/ pay-order at the Issuing branch.
Can I encash my TDR before maturity?
If Senior Citizen/Pensioners TDR is encashed within 3 months of its placement the profit rate will applied as per booking rate minus 2.5% where as if TDR is encashed after 3 months of its placement profit rate will applied as per booking rate minus 2.0%.
Is Senior Citizen/Pensioners TDR transferable?
No.
Are there any taxes applicable on Senior Citizen/Pensioners TDR?
WHT is 15% for filers and 30% for non-filers, regardless of profit amount, according to the updated tax rule.
Is Zakat applicable on Senior Citizen/Pensioners TDR?
Zakat is applicable unless CZ-50 form is submitted for exemption of Zakat.