With the Step Up Savings Plan, IGI Investment Bank provides you with the opportunity to invest your cash according to your required time frame.
You can deposit your money for as little as 1 month or as long as 3 years and receive as high as 18.75% return on your Deposits.
Why Deposit Through Us?
Enjoy a competitive, fixed interest rate on your deposit.
Choose any duration suitable to you from 30 days to 3 years.
Choose how you earn profit. If you deposit for One year or more, then you can have your profit paid monthly, quarterly, half-yearly or yearly.
Choose to earn more. Step Up Savings Plan offers more profit as the duration increases. The longer period you hold the deposit for, the more profit you earn.
Who Should Deposit?
The Step Up Savings Plan is ideal for all types of investors, whether you are looking to deposit short-term or the long-term.
If you want to deposit your money for a fixed period with the security of a known return, the step up savings plan is the choice for you. Suitable for amounts over PKR 100,000/- you can deposit for durations as short as 30 days.
How Does It Work?
Profit is calculated based on the frequency of profit payment and the tenor of deposit. For deposits of one year or more you can choose to receive profit monthly, quarterly, semi-annually or yearly, according to your investment needs. Here is an example that illustrates the profit payment if you were to invest Rs. 500,000/- in the Step Up Savings Plan for durations of 3 years and 1 year.
All you have to do is select your choice of tenor and choose the profit payment frequency, and you will receive profit according to the corresponding profit rate illustrated in the table.
IGI Investment Bank introduces the Variable Rate Deposit Plan that provides investors with [the choice of] profit rates varying with KIBOR applicable at different intervals during the tenor of deposit. As KIBOR moves up, so will the return on your deposit!
The Variable Rate Deposit Plan evaluates the rate of return according to the variations in KIBOR – Karachi Inter-Bank Offer Rate, giving you the option to have your returns revised on a monthly, quarterly, semi-annual or annual basis with the periodical rate applicable on 1M, 3M, 6M and 1Y KIBOR respectively. Thus any increase in KIBOR will enhance return on your deposit.
Why should you Deposit in the Variable Rate Deposit Plan?
The Variable Rate Deposit plan is beneficial for long-term depositors who anticipate a rise in profit rates. Thus, by placing your long term deposits in the Variable Rate Deposit Plan you can expect to receive returns based on current KIBOR instead of a fixed rate of return.
Besides providing a flexible rate of return, the Variable Rate Deposit Plan also provides depositors with the option to receive their profit payments according to a pre-agreed duration of their choice.
You can also enhance your returns by adding your profit amount at every profit payment date to your invested amount, so that, when the next time your profit is calculated, you receive profit on more than your invested amount.
You can also deposit in the Variable Rate Deposit Plan for a period of 1 year with a minimum of Rs. 100,000/- only so hurry and invest while profit rates are likely to increase.
How does it work?
TTo illustrate how the Variable Rate Deposit Plan works, let’s take a look at an historical example with actual KIBOR rates. Suppose you invested Rs. 500,000/- in the Variable Rate Deposit Plan on April 03, 2008 with a monthly profit payment frequency. Your returns for the following 3 months would have been as follows:
Deposited Amount: Rs. 500,000/-
Profit Payment Frequency / Revision of Profit Rates: Monthly
Applicable KIBOR: 1 Month KIBOR
Starting Date: April 03, 2008
As shown in the above mentioned table, rates are revised every month according to the profit payment frequency chosen. If the profit payment frequency chosen was quarterly, semi-annual or annual, the applicable KIBOR would have been 3M, 6Month and 1Year respectively with rates being revised as per that interval.
The Variable Rate Deposit product is ideal for depositors seeking to benefit from the expected increase in profit rates. Variation in 3M, 6M and 1Y KIBOR rates from April 2004 to October 2008 is given below:
How do I open an account with IGI Investment Bank?
The process for applying is simple. Just contact us by:
Calling us Toll Free at 0800 2 34 34
Emailing us at contact.center@igi.com.pk or
Providing us your feedback through our website.
Our representative will be contacting you shortly to provide you with a Certificate of Deposit form and guide you through the rest of the process. We will be needing the following documentation:
Partnerships
Attested copy of Partnership Deed; Attested copy of Registration Certificate; Attested copies of CNICs (all partners). Companies
Attested list of Directors; Attested copy of Board Resolution; Attested copy of Certificate of Incorporation; Attested Memorandum and Articles of Association; Attested Certificate to Commence Business (if required); Attested copies of CNICs (if required). Clubs, Societies, Associations, and Trusts
Attested list of Office Bearers / Trustees; Copy of Resolution; Attested copy of Constitution; Rules and By-laws/Trust Deed; Attested copies of CNIC
For Individuals:
Copy of CNIC
Copy of Passport (Resident Foreigners)
Copy of relevant identification for non-resident Pakistanis
