The Punjab Provincial Co-operative Bank Limited (PPCBL) has announced profit rate under its fixed deposit scheme, according to which general public will get profit at the rate of eight percent on their deposits fixed for a period of five-year while widows, pensioners, disable persons of 60 years age will get profit at the rate of 10 percent.
The profit rate for co-operative bank societies depositing from Rs 1 million to Rs 3 million for a three year fixed period will be seven percent, for Rs 30 million to Rs 50 million eight percent while the profit rate for deposits amounting to more than Rs 50 million will be nine percent per annum.
Registrar Co-operatives Punjab Malik Ahsan Iqbal said that the bank was providing crop loan to small farmers having less than 15 acre land, besides lending for purchase of cattle, goat, sheep and tractors and other agriculture machinery.
He said that in light of the directive of the Punjab chief minister, the bank is also providing loan for purchase of CNG rickshaws on easy terms and conditions. The residents of Lahore and Punjab government employees could get loan up to Rs 20,000 on zero mark-up, he added.