The account can be
opened by a single adult, two adults in their joint names with the
options of payable to the holders jointly (Joint-A ) or payable to either
(Joint-B), any minor of whom he is a guardian.Institutions may also invest individual funds such as pension, gratuity, superannuation, contributory provident funds and trusts etc.
How To Invest.
These account can be opened at any National Savings Centre
(NSCs) and Pakistan Post Office (PPO) by filling in a prescribed form called
DA-1, which is available at all the above offices of issue free of cost. A copy
of the Computerized National Identity Card (CNIC) or in case of a foreign national, a copy of the
Passport may be attached with the application form.
To download application form in editable Adobe Acrobat format,
please click here.
Mode of Deposit.
The accounts can be opened by depositing cash at the issuing office or by
presenting a cheque. The passbook and withdrawal slip shall immediately be
issued on receipts of cash. However, in case of deposit through cheque the
account shall be opened from the date of realization of the
cheque after receipt of the clearance advice.
What Is The Investment Limit.
The minimum investment limit is Rs.100/-
in the scheme with no maximum limit. However, only one
account can be opened by person at an office of issue.
The deposits can be withdrawn any time from the date of
deposit. However, there is a limit of three withdrawals within
a week's time.
Payment from accounts may be allowed through a person duly authorized (in writing) by the investor on authority letter under his signatures provided that:-
(a). the signatures of the authorized person are also attested by the investor on the letter of authority;
(b). the Centre Incharge is personally satisfied that the authorized person is genuine and the Withdrawal Slip and the letter of authority bear genuine signatures of the investor;
(c). the receipt of the amount is got acknowledged from the authorized person on reverse of the withdrawal slip personally by the Centre Incharge.
What is the Return.