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Corporate Profile

National Development Finance Corporation

Profile

Column
Science & Technology 
Corporate Profile
Politics & Policy

Oct 30 - Nov 05, 2000

NDFC is the largest financial institution in Pakistan established by the Government under the NDFC Act,1973. It's authorized and paid up capital is Rs 500.00 Million and Rs 390.00 Million, respectively. The Board of Directors comprises six Directors including the Chairman, all appointed by the Federal Government.

NDFC's main objective is to promote industrial expansion and economic growth in the country by providing financial and technical assistance for the establishment of new enterprises as well as for balancing, modernization and expansion of existing projects.

1) SPECLAL DEPOSIT ACCOUNT (SDA):

Best for the Current Account Operators.

Profit progressively goes to 9.75% payable on monthly basis profit calculated on daily product basis. Minimum balance requirement is Rs. 10,000.00

Amount in Rupees

P.A.

Below Rs, 1,000,000

7.00%

1,000,000 to 9,999,999/99

8.00%

10,000,000 to 99,999,999/99

8.50%

100,000,000 to 249,999,999/99

9.00%

Over 250,000,000/-

9.75%

2) STANDARD CERTIFICATE DEPOSIT (SCD):

Expected profit progressively goes to 12.00%, profit payable on six

Monthly basis. Rates for different maturates are as follows.

(Rs. In Million)

Tenor

Upto 500

Over 500

One month

9.25 %

10.00%

Three months

9.50 %

10.25%

Six months

9.75 %

10.50%

One year

10.25 %

11.00%

Two years

10.75%

11.25%

Three years

11.00%

11.50%

Four years

11.25%

11.75%

Five years

11.50%

12.00%

•Profit will be paid on half-yearly basis.

3) MONTHLY PROFIT SCHEME (MPS):

Best for Monthly profit earning. The deposit scheme is open to all Investors, be they individuals, Partnership, Public and Private Limited Companies and Corporation. The monthly return on different tenor of maturities of investment is given below:

Tenor

Individuals

Corporate

.

P.A.

P.A.

One year

10.00%

10.00%

Two years

10.75%

10.50%

Three years

11.50%

10.75%

Four years

12.00%

11.00%

Five years

12.75%

11.25%

4. AIK KAY TEEN (AKT)

The new deposit scheme is being introduced by the name of Aik Kay Teen (AKT). Salient features, a placement of Rs. 100/- will become Rs. 322/- on maturity after 10 years.

Expected value of Rs. 100/- in case of premature encashment is:

+ After completion of 01 Year

Rs. 107/-

+ After completion of 02 Years

Rs. 115/-

+ After completion of 03 Years

Rs. 124/-

+ After completion of 04 Years

Rs. 136/-

+ After completion of 05 Years

Rs. 150/-

+ After completion of 06 Years

Rs. 168/-

+ After completion of 07 Years

Rs. 190/-

+ After completion of 08 Years

Rs. 218/-

+ After completion of 09 Years

Rs. 260/-

+ After completion of 10 Years

Rs. 322/-

5. ADVANCE PROFIT PAYMENT SCHEME (APPS):
(Individuals only)

Expected profit @ 11 p.a. (APR 12.36%) payable in advance on yearly basis. The Tenor of Deposit is three years.

Premature encashment is allowed under the scheme; expected profit will be re-calculated according to the following schedule:

• Before 12 months @ 6.00% p.a.

• After 12 months & before 18 months @ 9.00% p.a.

• After 18 months & before 24 months @ 9.50% p.a.

• After 24 months & before 30 months @ 10.00% p.a.

• After 30 months & before 36 months @10.50% p.a.

(Non Individual)

Deposit is accepted under APPS @10.25% p.a. run Corporate Sector, profit payable in advance.

6. SPECLAL GOLDEN CERTIFICATE OF DEPOSIT (SGCD):

(Individual only)

The expected profit rate applicable to deposits under SGCD is 15.00% p.a. on maturity period of 5 years. In case of premature encashment, the rates applicable in SCD will be applicable.

Zakat & With-holding Tax will be deducted as per rules.

NDFC schemes are approved schemes for Investment of Employees Provident Fund / Gratuity Fund / Pension Fund / Benevolent Fund.