Savings bank account profits were also increased following the rise in interest rates in monetary policy.
According to the SBP, the rate of return on savings accounts has been increased by 1.50% from December 1. The rate of return on savings accounts of banks has been increased to 7.25%. In case of unresolved issue, the bank user should contact SBP.
SBP says that from January 1, 2022, the account can be opened digitally before the customer comes to the bank branch. From January 1, 2022, banks have been instructed to open an account with remote biometrics.
