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If u really want to earn something safe on your saving, i ll suggest national saving scheme to you. So far they offer da best rates in pakistan. Ur investment are protected/guaranteed by gov of pak. They ve 6 different to cater for da diverse needs of customers. Interest rate varies from 10.5% to 13.56%. For more info visit their website.
Pak Rupee Devaluation rate
Fell against euro in last one year 27 Rupees.
Fell against Euro in last one year 11 Rupees.
Fell against Sterling in last one year 14 Rupees.
Considering the “bottom climb” rupee always follows 5% minimum is a joke. 10-14% “profit” well think about any investment in Pak Rupees devalue before you get the fruit out in profits.
Saving are thought over their value once your withdraw them.
Considering the Foreign Currency account.
Minimum requirement for UBL FC current account - 300$ or equivalent Sterling/Euro
Minimum requirement for MCB FC current account - 300$ or equivalent Sterling/Euro
Minimum requirement for Dubai Islamic Bank FC current account - 500$ or Equivalent
–Method of withdrawal offered on FC account = Check Book only
–Method of deposit offered on FC Account - Swift - FC in cash
–Charges on withdrawals on FC account - GOVT. TAX 5% + 0.6- 0.8%(bank tax)
Keeping in view the state of Rupee that is why FC accounts are popular. IF rupee devalues against FC more than 6 percent then ur savings in FC always remain strong.
Pakistan is an importing country with poor economy. Its currency always devalues as govt. is not bothered to keep the value stable. Any saving in Rupees account despite the 5-10% per annum profit actually devalues over time.