Summit Bank Advantage Account

A Short term deposit account guaranteed high profit rates along with the loan facility


Minimum Balance Required (Rs)
100,000
Minimum Amount Required (Rs)
100,000
Daily Withdrawal Limit
(Rs)
0
Annual Fee
(Rs)
1,000
Allowed Monthly Transactions
-

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  • Features

    - Profit payment frequency is on monthly basis

    - The funds can be fixed of Rs. 100k to Rs. 10 million for a tenor of 1 year

    - Interest rate varies upto 11.75% based on the deposited amount

  • Benefits

    - Financing facility up to 70% of the deposited amount

    - Premature encashment facility is available

    - Higher the deposit, higher the returns will be

    - Free Internet Banking, and account statement facility is available

  • Eligibility

    Salaried Person:
    - Age Limit: 18 - 70 years 
    - Documents required: CNIC, Proof of employment

    Self-employed/Businessmen:
    - Age Limit: 18 - 70 years 
    - Documents required: CNIC and Proof of business

  • FAQ

    Anyone who is a Pakistani resident individual, private and public limited companies, can use a term/fixed deposits account.
    You can use a fixed deposit account from 1 month up to 10 years of length. The profit rate will also be better if you deposit it for longer time periods.
    Yes, you can ask the bank to pay the profit on a monthly basis however the rate of interest or profit rate will only be charged or calculated on annual basis.
    Yes, you can withdraw your funds from your fixed term bank account however some banks may charge a penalty or a fee for early withdrawals than a fixed maturity date.

Other Details

  • Best Suitabe For

    Long term savings

  • Target Age Group

    18 - 70 years 

  • Interest Rate / Profit Rate

    11.75%

  • Interest Calculation Frequency

    -

  • Profit Payment Frequency

    Monthly

  • Currency of Account

    PKR

  • Free ATM / Debit Card?

  • ATM Card Network

    VISA

  • Free Cheque Book?

  • Manage with App?

  • Branch Banking

  • Online Banking?