NIB Bank declares PLS profit rates

NIB Bank Limited has declared the following profit rates on PLS deposits for the period of six months ended 31st December 2009.

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Profit Rates on Deposits

for July 01, 2009 to December 31, 2009

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1. NIB SAVER CLASSIC/PROSPERITY ACCOUNTS

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(Profit calculated on daily product basis and payable quarterly)

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Indicative Profit Rate to be applied

w.e.f July 01, 2009

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FROM                                   TO

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Rs  0/-                    Rs  999,999,999,999/-                     5.00% p.a.

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Rates for amounts over Rs  3,000,000/- will be quoted by Treasury.

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2. NIB MILLENNIUM ACCOUNT

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(Profit calculated daily product basis and payable monthly)

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Indicative Profit Rates to be applied

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                                                            w.e.f July 01, 2009

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FROM                               TO

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Rs  0/-            Rs  999,999,999,999/-                             5.00% p.a.

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Rates for amounts over Rs  3,000,000/- will be quoted by Treasury.

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3. NIB MAHANA                  Deposit Period           Indicative Profit Rates

ADVANTAGE                                               Effective July 01, 2009

(Profit payable monthly)                                on all fresh deposits &

                                                                     roll overs

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                                    3 Months                          5.00% p.a

                                    6 Months                          5.75% p.a

                                    1 Year                            6.50% p.a

                                    2 Years                           5.75% p.a

                                    3 Years                           7.00% p.a

                                    4 Years                           7.50% p.a

                                    5 Years                           8.25 %p.a

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4. TERM DEPOSIT RECEIPTS (TDRs)

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Deposit Period         TDR Old -          NIB Shishmahi             NIB Sahmahi

                       Regular              Munafa                       Munafa

                Profit payable          Profit payable           Profit payable

                  at maturity              six monthly                quarterly

              Indicative Profit        Indicative Profit      Indicative Profit

                  Rates for                Rates for                  Rates for

              Fresh deposits             fresh deposits          fresh deposits

              and roll overs           and roll overs            and roll overs

           w.e.f July 01, 2009      w.e.f July 01, 2009     w.e.f July 01, 2009

              to Dec 31, 2009         to Dec 31, 2009           to Dec 31, 2009

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 7 Days           3.00% p.a.                  -                               -

30 Days           4.00% p.a.                  -                               -

 1 Month          4.00% p.a                   -                               -

 3 Months         5.50% p.a.                  -                               -

 6 Months         6.50% p.a.                  -                       6.00% p.a

 1 Year           7.25% p.a.                 7.00% p.a.               6.75% p.a

 2 Years          7.75% p.a.                 7.50% p.a.               7.25% p.a

 3 Years          8.25% p.a.                 8.00% p.a.               7.50% p.a

 4 Years          8.75% p.a.                 8.50% p.a.               8.00% p.a

 5 Years         10.00% p.a.                 9.00% p.a.               8.50% p.a

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Note:
(i) Special Rates for Deposits will be subject to negotiation and approval obtained from the President / CEO.
(ii) All fresh Term Certificates of Deposits (TDRs) will continue to be accepted at the rates mentioned above up to December 31, 2009.
(iii) In the event of premature encashment of Term Deposit Accounts mentioned above, the return will be paid at the rate(s) applicable to the completed period of the relevant Term Deposit Receipts(s).

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NIB ZABARDAST MUNAFA ACCOUNT

TERM DEPOSIT SCHEME

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5. NIB ZABARDAST MUNAFA ACCOUNT

(Five years Term Deposit Scheme    Completed Years(s)   Indicative Profit Rates

 with profit payable annually)

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Minimum balance

requirement = Rs  500,000/-                 1st Year                  7.00% p.a

                                            2nd Year                  8.00% p.a

                                            3rd Year                  9.00% p.a

                                            4th Year                 10.00% p.a

                                            5th Year                 11.00% p.a

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Note:
(i) Deposits under this scheme will be accepted for five years (fixed period), however, the profit shall be paid annually upon completion of each year at the rate applicable to the completed year.
(ii) No Penal Interest will be charged on premature encashment of deposit under this Scheme.
(iii) In the event of premature encashment of Zabardast Munafa Accounts, the return will be paid at the rate(s) applicable to the completed year(s) of the relevant Account.
Copyright Business Recorder, 2010