IGI Investment Bank, a part of the IGI Financial Services Group, launched the 'IGI Up Savings Plan', a Certificate of Deposit product providing investors with the opportunity to deposit cash for a time period of as little as one month, says a press release.
The annual rate of the Certificate of Deposit is 8.25 percent for one month, with an annualised rate of up to 11 percent on a deposit of 3 years. This is a unique offer provided only by IGI Investment Bank enabling investors to deposit their cash with the duration of their choice, the release said.
The Step Up Savings plan offers investors the option to deposit cash for duration of 1,2,3,4 or 6 months and 1,1.5,2 or 3 years depending on their liquidity requirements. Profits vary according to the duration of deposit and the profit payment frequency required by the investor monthly, quarterly, semi-annually or annually.
The maximum profit that can be availed is 11 percent for investors depositing cash for a period of only 3 years," said Raeda Latif, Head of Marketing IGI Financial Services. The Step Up Savings Plan has been developed by the Bank to provide investors with a flexible deposit scheme serving all types of investor needs making it ideal for corporations, high net worth individuals as well as sole proprietors, salaried individuals and housewives.
IGI Investment Bank is licensed by the Securities and Exchange Commission of Pakistan to carry out Commercial Financing and Lending and Leasing Services under the NBFC Rules. Pakistan Credit Rating Agency has awarded IGI Investment Bank a long-term credit rating of 'A' and a short-term rating of 'A1'.-PR
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