multiplier (PDF)

							w w w. a s k a r i b a n k . c o m . p k




                                    ASKARI DEPOSIT MULTIPLIER ACCOUNT
                                                                 ACCOUNT DETAILS



To be completed by Applicant(s) in BLOCK letters                                                                                        Date:

Account Title:

Maintained at:                                                                                   Branch

Deposit Amount:

Period of Deposit:        10 year

Mode of Payment:

       Cheque #                                            Drawn on

       Account number to be debited:



                                                                     AT MATURITY


       Encash my/our deposit and credit the principal to my/our account no.
       along with any accrued profit

       Rollover principal along with profit accrued thereon for a similar term at the rate of profit prevailing at the time of renewal.

 In the absence of any instructions the Bank reserves the right at its discretion to renew the term deposit for a similar term at the profit rate prevailing at
 the time of renewal.




                                                 AUTHORIZATION & ACKNOWLEDGMENT

 I/ We know and understand the rules of the Bank governing Term Deposits under Profit/Loss Sharing System and agree to be bound by them and
 authorize the Bank to invest the deposit in any manner at its discretion. I/ We affirm to have read and understood the terms and conditions contained
 overleaf as well as in the account opening form relating to my/our account mentioned above and agree to abide by the same. I/ We also
 acknowledge having received the Certificate of Deposit for the above deposit.




 Account Holder's Signature(s) (1)                                   (2)                           (3)                            (4)



                                                               FOR BANK USE ONLY


 Deposit Account No:

 Date of Deposit:

 Date of Maturity:



 Date Received:                            Posted by:                          Checked by:                            Authorized By
w w w. a s k a r i b a n k . c o m . p k




                                  ASKARI DEPOSIT MULTIPLIER ACCOUNT

       Based on the principles of profit and loss sharing
       Tenure: 10 years Certificate of Deposit
       Profit payable: At maturity
       Eligibility: Individuals only
       The deposit shall be only in Pak Rupees
       Deposits are accepted by the Bank with a minimum prescribed amount of Rs.50,000/-
       and a maximum of Rs.10,000,000/-
       An automated Certificate of Deposit will be issued
       Financing upto 90%




                                                      TERMS & CONDITIONS


  1.   The Bank reserves the right to invest the funds arising from such deposits in any manner at its discretion.

  2.   The amount of the Deposit and the returns thereon is on profit and loss sharing basis, which is normally reviewed bi-annually
       and subject to the Bank's rules and regulations in force governing the Profit and Loss Sharing deposits. The Bank's discretion
       of profit and loss shall be final and binding to the depositor for all purposes. The Profit/Loss on PLS Term Deposits shall be
       disbursed/recovered by the bank only after such returns are determined and declared by the bank.

  3.   A minimum term of one month must be completed for the deposit to be eligible for profit. No profit shall be payable if the deposit
       has not completed one month.

  4.   Profit shall be paid at maturity.

  5.   There will be no charges on pre-mature encashment; however, in case of pre-mature encashment the applicable rate for
       calculating profit for the completed tenure shall be the rate of the term corresponding with the minimum term completed on the
       Banks deposit rate sheet prevailing at the date of pre-mature encashment.

  6.   At the time of maturity, Askari Deposit Multiplier Account may be encashed or renewed subject to customer instructions
       recorded at the time of placement of Askari Deposit Multiplier Account or at any subsequent stage before the date of maturity.
       The encashment of Askari Deposit Multiplier Account shall be subject to surrender of certificate issued to the customer.

  7.   The profit payable shall be computed on the basis of 365 days a year, except for leap year in which case it will be 366 days.

  8.   The deposit and payment, being governed by and subject to the laws of Pakistan in force at the relevant time, shall solely be
       transacted at the branch to whom this application is addressed, (the “Deposit Branch”), and no other branch/office of Askari
       Bank would be liable in respect hereon.

  9.   Payment of profit shall be subject to withholding tax under the Income Tax Laws.

  10. Zakat will be applicable as per Zakat & Ushr Ordinance 1980, unless Declaration of Exemption is provided by the customer at
      the time of placement of deposit or at least one month before the first Zakat deduction day (1st of Ramzan)

  11. The Bank reserves the right to revise the above said rules at its discretion in accordance with normal banking practice and/or
      regulations of the State Bank of Pakistan from time to time.




 Account Holder's Signature(s) (1)                          (2)                       (3)                       (4)