Pashtany Bank Fixed Deposit facility aimed to provide safe long term deposit opportunity for organizations, businesses and individuals that may not have immediate cash requirements. These deposits are accepted for a certain fixed time or term which will be repayable after the expiry of the period fixed. Since these deposits remain in the bank for a longer time than the demand deposits for the purpose of long term investments, Pashtany bank offers attractive interest rates with more safety and security of the customer’s funds.
1-Accounts can be opened by individuals & joint holders.
2-Proprietor, Partnership firms.
3-Private Public Limited Liability companies.
4-Education, health institutions and businesses in real sectors of the economy
5-Non-profit and Non-Government organizations, clubs, societies and associations.
6-Minors below 18 years of age can open along with their natural / legal guardian and the account could be operated by the guardian only for the benefit of minors.
Eligibility for Individuals:
1-Customer identification (Tazkara / passport).
2-Valid business license.
3-Tax Identification Number (TIN)
4-Source of Income and deposit
Eligibility for Business and Other Legal Entities
1-Copy of valid license
2-Registration Certificate of the organization
3-By-laws and Articles of Association of the organization.
4-Board and/or management resolution to open account.
5-National ID card (Tazkira)/passports of the persons authorized to open and operate the account.
6-Tax Identification Number (TIN)
7-Source of income and deposit
8-Optional: introduction letter from any existing customer.
Pashtany Bank Fixed Deposit Facility Features:
1-Accounts will be opened in AFN, USD, GBP and EURO.
2-Fixed Deposit Certificate will be issued to the depositor and the same has to be surrendered on the maturity for withdrawing the amount.
3-The customer can withdraw the amount in fixed deposit prior to the due date of maturity. In this case, the interest will be paid at 1% less than the applicable rate for the period of which the deposits remain with the bank.
4-Fixed Deposits will be accepted for a minimum period 3 months and no maximum limit on the period. However currently fixed deposits will be accepted for a maximum period of 5 years and the same could be renewed for a further period as per the requirement and request of the customer.