The document summarizes various financial products and services offered by Bank of Khyber (BOK). It describes BOK's current deposit accounts that allow unlimited withdrawals up to the account balance with no taxes or restrictions. It also describes BOK's savings deposit accounts that offer profit earnings on deposits with options for withdrawals with or without notice. Finally, it mentions BOK's term deposit accounts that provide attractive returns through profit payout options while allowing partial pre-mature encashments without penalties.
The document summarizes various financial products and services offered by Bank of Khyber (BOK). It describes BOK's current deposit accounts that allow unlimited withdrawals up to the account balance with no taxes or restrictions. It also describes BOK's savings deposit accounts that offer profit earnings on deposits with options for withdrawals with or without notice. Finally, it mentions BOK's term deposit accounts that provide attractive returns through profit payout options while allowing partial pre-mature encashments without penalties.
The document summarizes various financial products and services offered by Bank of Khyber (BOK). It describes BOK's current deposit accounts that allow unlimited withdrawals up to the account balance with no taxes or restrictions. It also describes BOK's savings deposit accounts that offer profit earnings on deposits with options for withdrawals with or without notice. Finally, it mentions BOK's term deposit accounts that provide attractive returns through profit payout options while allowing partial pre-mature encashments without penalties.
Few of the important products and services are: 4.1.1 Current Deposits Account (Rupee): “The BOK Rupee Current Deposits Account allows the facility of ultimate withdrawals up to the extent of the balance in account. There will be no tax deducted on the funds that someone chooses to keep in these accounts.” A. Balance in current accounts are payable on demand .any amount can be withdrawn prior notice. Similarly there are no restrictions on number of transactions during the day. B. All individuals including foreigners, firms and corporate bodies are entitled to open and maintain current accounts. C. No profit will be paid on the current accounts. D. Overdrafts are allowed on these accounts. 4.1.2 Saving Deposit Account (Rupee): The Bank of Khyber Rupee Saving Deposit account allows the facility of multiple withdrawals up to the credit balance, with accruing profit on the deposits” 4.1.3 TYPES OF SAVING ACCOUNT • Profit and loss sharing account (PLS). • Special Deposit Account (SDA). • PLS 7 days Notice Deposit. • PLS 30Days Notice Deposit. Profit is paid bi-annually on the minimum monthly balance (Jan-June & July-Dec) which is announced in the July and January respectively. Generally, withdrawals from this account are allowed on demand i.e. without any prior notice of withdrawals. Over draft is not allowed on this account. 4.1.4 Term Deposit Account (Rupee): "BOK Rupee Term Deposit Account with an attractive return of liquidity provides a double benefit. Authorized annually or at maturity annual, quarterly and monthly, to take profits. Profits on a daily basis have accured. Previous tender compensation rates will be applied in the case of any premature encashment. However no penalty, is not partial liquidity option is permitted without disturbing the balance of fixed deposits.