SBP increase minimum deposite rate by 50bips to 6.50.

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circular announced by SBP

Minimum Rate of Return on Saving Deposits

Please refer to BPRD Circular No.01 dated April 13, 2012 and BPRD Circular No.07 dated May 30, 2008 on the above subject.

2) It has now been decided that effective from April 01, 2013 minimum profit rate of 6.0% p.a. on all Pak Rupee saving deposits will be paid by banks on average monthly balances. 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.

Sanie Khan

Sanie Khan holds a deep knowledge of the financial markets in Pakistan. Based in Karachi, he has over 20 years of hands-on management experience in financial technologies and managing operations in the financial sector. He was the General Manager at the Pakistan Stock Exchange (PSX) for 17 years. He along-with senior members of Exchange

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