Wednesday , February 1 2023

Soneri Bank Limited Term Deposit Account Features

Soneri Bank Limited

Soneri Bank Limited Introduced New Term Deposit Account is for their customers in Pakistan who intend to retain their savings for a fixed period and earn a higher rate of profit. Term Deposit Account allows customers to save a fixed amount in Pakistani Rupees for a set period, ranging from 1 month to 3 years at attractive profit rates. The depositor has the option to reinvest the deposit automatically.

Automatic Renewals
At maturity, the deposit can be renewed for the same tenure at the prevailing profit rate, unless instructed otherwise.

Premature Encashment
Term Deposits for 1 to 3 years tenure if withdrawn before completion of 1 year from the date of deposit, shall be subject to 1% early withdrawal surcharge on the principal amount withdrawn.

Running Finance Facility
You can use your Term Deposit Account as collateral to apply for Running Finance facility:

Withholding tax applies on all cash withdrawals over Rs.50,000/- and 10% withholding tax on profit credited into account
Zakat is applicable on Term Deposit Account, however Zakat exemption forms are accepted. Minimum deposit amount: PKR 25,000/-

Soneri Rupee Term Deposit Accounts

PERIOD: JUL-2019 – DEC-2019
Effective 1-JUL-2019

Deposit Category Profit Rates (% p.a.)
PLS Savings Account 10.25
Soneri Sahara Account (Senior Citizens) 10.25
Soneri Savings Accounts (Balance Threshold)
Up to Rs. 10.0 Million 10.25
Over Rs. 10.0 Million to Rs. 50.0 Million 10.25
Over Rs. 50.0 Million to Rs. 100.0 Million 10.25
Over Rs. 100.0 Million to Rs. 250.0 Million 10.25
Over Rs. 250.0 Million to Rs. 500.0 Million 10.25
Over Rs. 500.0 Million 10.25
Notice Deposits
7 Days’ Notice 10.25
30 Days’ Notice 10.25
Term Deposits – Minimum Deposit Rs. 25,000/- (all rates are % p.a.)
Tenor Monthly Intervals Quarterly Intervals Six Monthly Intervals Yearly Intervals At Maturity
1 Month — — — — 10.25
3 Months 10.25 — — — 10.30
6 Months 10.25 10.25 — — 10.35
1 Year 10.25 10.25 10.30 — 10.50
2 Years 10.25 10.25 10.25 10.50 11.00
3 Years 10.25 10.50 10.75 10.75 11.25
Diamond Deposits(Monthly Income Scheme) Profit Rates (% p.a.)
1 Year 10.25
2 Years 10.50
3 Years 10.75
Soneri Roshan Munafa Monthly Profit (% p.a.) Profit at Maturity (% p.a.)
PKR 50,000 – PKR 49.99M 10.25 10.50
PKR 50M- PKR 100M 10.25 11.00
1 Year TDR, linked with Current Account
Important Notice:
Minimum rate of return will be in accordance with SBP’s prevailing guidelines.

Provisional rates are subject to change during the half year.

Roll-overs of deposits on previous rates shall be in accordance with prevailing rate sheet.

Premature encashment of a time deposit will cause reduction in rate of return by 100bps, if reduced rate is below minimum PLS Rate, then payout will be made on minimum PLS Rate.

Profit Rate on Deposits from Banks / Financial Institutions PSEs / Provident, Gratuity Funds / Educational Institutions / Corporate Entities / Cooperative Societies, Group Account(s) & High net worth individuals will be Negotiable.