Special Savings Account FAQs
All Pakistani Nationals, non-resident Pakistanis, and foreign Nationals can open Special Savings Account. Institutions may also invest their employees’ related funds such as pension, gratuity, superannuation, contributory provident fund and trusty fund etc.
Profit will be paid on successful Completion of 6 months.
Special Savings Account can be opened by depositing cash/cheque/ draft/ pay-order at the Issuing Office.
Yes, minimum deposit limit is Rs. 500/- but no limit in maximum investment but Deposits are required to be made in multiples of Rs.500/-
There is no withdraw limit but no profit is payable in case the withdrawals are made before completion of 6 months of such deposit.
Yes, taxes are applicable on Savings Account.
- Filers: 10% of the yield/ profit
- Non-Filers: 17.5% of the yield/ profit; however, the rate shall be 10% if the yield or profit paid is less than Rs. 500,000/-.
The Zakat is collected at source as per rules at the time of withdrawal of principle amount.
Zakat is not collected in case of reinvestment.
For more details see under Product > Account > Special Savings Account