Question

Please visit a nearby post office/ bank to find out the different schemes for saving money Please visit a nearby post office/ bank to find out the different schemes for saving money and its tenure interest and maturity​

Answer 1

Answer:

Residing in the E/-11 Area of Islamabad, Pakistan, I visited a nearby bank located in E-11 Markaz, known as Allied Bank Limited.

Explanation:

This bank had various banking schemes to help save money. For example,

1-Allied bank offers a PSL Savings Account. This facilitates people by allowing

- Free of cost issuance of first cheque book of 10 leaves

- free services in the following month on maintaining average balance of Rs. 2.5 Million in a month,

-Exemption of Service Charges on Salary Accounts of institutions under special arrangement with Allied Bank

-No joining fee for the issuance of Allied Cash+Shop Visa Debit Card

2- Allied Asaan Account ( it may be a savings account or not depending on choice)

- No minimum balance requirement

- No account maintenance/service charges

-FREE issuance of Allied PayPak Debit Card

-FREE issuance of first Cheque Book of 10 leaves

3- Allied Senior Citizens Account

- Free Visa Debit Card for the first year

- Free cheque book of 50 leaves per year

- 2 free online transactions per month

-Free e-statements

-Free myABL internet banking access

-Free medical health card

-Offering up to 30% discounts at labs (Unlimited)

-Accidental death/disability insurance coverage up to Rs.500,000 (Up to age 69 yrs.)

-Hospitalization coverage of up to Rs.6,000 per day (Up to age 65 yrs.)

Their fixed profit rate on deposits are  Rs. 10,000/-

- Auto Rollover option available at maturity on prevailing profit rates as per customer’s instructions

- Principal stays secure.

I hope this information on saving money and services that help to cut costs would help you.

Answer 2

Answer:

One can acquire a National Savings Certificate which is a scheme offered by the Government of India.

Then there is National Savings Scheme where you can withdraw entire fund after the successful completion of its maturity tenure.

You can also go for Public Provident Fund which attracts 7.6% rate of interest every year which is finally compounded annually.