Rates on saving accounts to increase by 1.5%: SBP

MG News | November 22, 2021 at 04:32 PM GMT+05:00

0:00

November 22, 2021 (MLN): After the policy rate hike of 150bps to 8.75% by the State Bank of Pakistan (SBP), the profit rate on bank customers’ saving account as per central bank regulation, will rise by 1.5% to a minimum profit rate of 7.25% by Dec 01, 2021, at the latest, SBP informed today.

While taking to its Twitter handle, the central bank said, “If your bank gives you lesser profit on your savings account, please file a complaint with your bank and if not resolved please contact SBP customer complaints.”

Starting Jan 2022, SBP has made it mandatory for banks to provide the option to open bank accounts digitally with remote biometric and without the need for a customer to visit a bank branch.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	182,153.55 636.10M	-0.10% -186.83
ALLSHR	109,435.40 1,057.65M	-0.38% -412.26
KSE30	55,771.26 90.98M	0.14% 75.98
KMI30	257,930.59 244.46M	0.56% 1431.28
KMIALLSHR	70,461.52 615.75M	-0.17% -122.35
BKTi	52,723.02 52.99M	-0.92% -488.18
OGTi	36,462.93 7.76M	-0.40% -147.75

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	69,275.00	69,415.00 68,625.00	340.00 0.49%
BRENT CRUDE	69.13	69.17 69.00	0.33 0.48%
RICHARDS BAY COAL MONTHLY	96.00	0.00 0.00	0.40 0.42%
ROTTERDAM COAL MONTHLY	101.95	102.30 101.60	-0.35 -0.34%
USD RBD PALM OLEIN	1,071.50	1,071.50 1,071.50	0.00 0.00%
CRUDE OIL - WTI	64.30	64.34 64.15	0.34 0.53%
SUGAR #11 WORLD	14.11	14.34 14.08	-0.24 -1.67%