Saving AccountsSindh Bank is trying to create an economic environment that will play a great role in the economic development of the country. Through a wide range of financial services, Sindh Bank has launched many attractive deposit schemes for its customers, the banks customers have a better opportunity to deposit their money for higher profits.
This is a unique account where your money begins earning interest as soon as you make a deposit. Interest is calculated on your daily closing balance and credited to your account at the end of the month, one makes money from the day of the initial deposit to the day that you withdraw your funds.
Eligibility
This product is generally for the individuals but can be opened in the name of charitable institutions, for provident funds, benevolent funds and pension funds etc. It is for every citizen. There is no discrimination of male, female, young or old. This is equally good for the rural and urban areas. An individual less than the age of 18 can also open an account with the guardian.
Profit Payments
Savings Accounts are profit bearing and profit is paid semiannually, in January and July every year. Profit is calculated on the basis of average monthly credit balance in the account. Rate of profit is linked with the SBP repo rate and minimum profit rate should be 50 basis points below the repo rate. In case of any revision in SBP repo rate profit rates are changed effective from the 1st day of subsequent month.
Minimum / Maximum Balance
Minimum balance – No requirement Maximum balance – No restriction.
Free Services
Free services are available depending on the average balance in the account as per Bank’s Schedule of Charges.
No Incidental Charges are levied.
Salient features:
Minimum Balance: Rs.1,000/-
Profit is calculated on daily credit balance basis and paid at month end.
Different profit rates are offered on the basis of amount of deposit.
Zakat is also applicable.
This product is generally for the individuals but can be opened in the name of charitable institutions, for provident funds, benevolent funds and pension funds etc. It is for every citizen. There is no discrimination of male, female, young or old. This is equally good for the rural and urban areas. An individual less than the age of 18 can also open an account with the guardian.
Profit Payments
Savings Accounts are profit bearing and profit is paid semiannually, in January and July every year. Profit is calculated on the basis of average monthly credit balance in the account. Rate of profit is linked with the SBP repo rate and minimum profit rate should be 50 basis points below the repo rate. In case of any revision in SBP repo rate profit rates are changed effective from the 1st day of subsequent month.
Minimum balance – No requirement – Maximum balance – No restriction.
Free services are available depending on the average balance in the account as per Bank’s Schedule of Charges.
No Incidental Charges are levied.
(Minimum balance Requirement is Rs.25,000/-)
Women Empowerment Account has been introduced to cater to women to add value and boost their savings. This account also allows women to avail a convenient financing facility against their savings to manage their cash flow needs.
Free Services
- One Union Pay ATM / Debit Card
- One cheque book of 25 leafs every year
- Issuance of pay orders
- On-line banking: Deposit & Withdrawal
- One small locker with Insurance of Rs.500,000/-
(Minimum Balance Requirement is Rs.10,000/-)
Young Talent Account has been introduced to motivate young Pakistani’s to develop a habit of savings and have a sense of ownership. The account is designed for students of schools, college and technical institutions to open an account with a guardian.
Free Services
- One cheque book of 25 leafs every year
- Issuance of Pay Orders
- On-line banking: Deposit & Withdrawal
(USD, EUR, GBP)
Like all other banks Sindh Bank also offers Foreign Currency Accounts to their customers. Foreign Currency Deposits (Pounds Stg, Euro, US Dollars, Deutsch Marks and Japanese yen) are accepted on interest basis which are governed by the rules and regulations pertaining to the special scheme announced by the SBP.