Allied Term Plus Deposits reward customers with a guaranteed, highly competitive rate of return for leaving their money for a fixed period of time with the option to earn attractive returns on a monthly basis. See important product information below, and find out more about our fixed. Rate of return 10,000/- on deposits below Rs.:
Rate of return and frequency of payment
Features
Auto rollover option is available on maturity at prevailing interest rates as per customer instructions.
Financing against term deposits is also available.
Profits are instantly disbursed to your linked current or savings account and can be withdrawn by check or ATM.
The principal remains protected.
The rate of return remains the same throughout the deposit period.
Please visit any of our 1200+ conventional branches to book your Allied Term Plus Deposit today.
Terms and conditions for notice/term deposit
These terms and conditions are for Notes and Term Deposits, held by the Account Holders with the Bank. The word “Bank” means Allied Bank Limited, its respective branch and/or its successors and/or assigns and the expression “Account Holder” means the person/legal entity who has opened an account with the Bank and shall include his/her legal heirs, legal representatives, nominees, executors, administrators and permitted assigns and successors-in-suit in the case of individuals and permitted assigns in the case of companies, institutions and other entities.
1. Any account holder desirous of depositing funds for the Bank’s Notes/Term Deposit Schemes shall submit an application in the prescribed form along with the required information/documents.
2. Bank does not accept money for notice/term deposit from any person/legal entity other than the account holder (current/savings account).
3. The Bank reserves the right to reject or accept any deposit without assigning any reason.
4. Deposits shall be accepted for an amount equal to or greater than the minimum amount prescribed by the Bank for the respective product.
5. Profit and principal on notice/term deposit, in case of maturity/liquidation, are automatically transferred to the current/savings account of the account holder/customer. No request for payment through any other means is acceptable to the Bank.
6. It is the sole responsibility of the account holder/customer to preserve the carbonized copy of the application form and the confirmation of deposit provided by the bank confirming placement of funds in the respective notice/term deposit scheme.
7. The Account Holder/Customer shall ensure that the particulars provided on the Acknowledgment are as per the application form given for this deposit.
8. Carbonized copy of application form along with deposit notice/term deposit acknowledgment is the only acceptable proof of holding such deposits with the bank. None of these proofs are exchangeable or transferable documents.
9. The Account Holder/User shall expressly understand that the Bank is responsible for deducting the Withholding Tax, Income Tax and other duties imposed by the Government of Pakistan from time to time. Any understanding by the Account Holder/Customer against these rules will not be accepted by the Bank and the Account Holder must be aware of the law of the land applicable to the deposit/investment.
10. Zakat, wherever applicable, shall be applicable as per Zakat and Ushar/Ordinance, 1980.
11. Account holders/customers seeking exemption from Zakat deduction must submit “Declaration” on the prescribed form at least one month prior to the date of Zakat deduction, if not already provided at the time of account opening. .
12. The Account Holder/Customer acknowledges that the Bank is subject to anti-money laundering laws and regulations and the Account Holder/Customer(s) agrees to provide any Information requested by the Bank for this purpose.
13. Deposits under various schemes are accepted/renewed and en-cashed as per the rules and features of the respective product described to the account holder/customer, which are accepted and understood by the account holder/customer.
14. Once the notice/term deposit is placed, it is allowed to modify the rollover option of the term deposit at least 2 days before maturity as per the product specifications.
15. The Bank reserves the right to change the rate of interest for any period without assigning any reason unless specifically stipulated at the time of deposit placement.
16. Interest earned on Notes/Term Deposits will be credited at the set frequency specified in the product specifications.
17. In case an account holder/customer wants to withdraw the funds before the maturity date, the interest for the period for which the deposit is being held with the bank may not be payable/repayable at a lower rate than that of the product. It should be understood as described in the details. Time of deposit placement.
18. Prepaid interest may also be recoverable in case of withdrawal of funds before the maturity date which must be considered as specified in the product specification at the time of deposit.
19. Tax on advance profits (if any) paid to the tax authority shall not be refunded by the Bank. However, the bank may provide a tax deduction certificate to the account holder/customer on request.
20. For “Short Notice Deposit”, one day’s advance notice from the account holder/customer for encashment as specified by the Bank.
21. Deposit and subsequent operations are subject to applicable orders, instructions, rules, regulations, decrees and restrictions of the Government of Pakistan and State Bank of Pakistan.
22. The prevailing rules and policies of the Bank and State Bank of Pakistan for classification of deposits shall also apply to all notice/term deposits.
23. Any loss of carbonized copy of the application and/or notice/term deposit acknowledgment should be reported immediately to the issuing branch of the bank.
24. If the carbonized copy of the application form or notice/term deposit acknowledgment is lost by the account holder/customer, the bank will require compensation for premature encashment.
25. In case of loss of both the carbonized copy of the application form and the notice/term deposit acknowledgment by the account holder/customer, the bank will require a copy of the FIR for premature encashment.
26. These terms and conditions shall be read with the general terms and conditions agreed with the Bank while opening a current/savings account.
