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Kashf Ahtimad Bachat account, a checking, basic low balance savings instrument. This product represents KMBL’s standard savings product, primarily targeted at the KMBL’s
borrowers and the general public. While there will be no minimum balance requirements, profit will only be payable on minimum balances greater than Rs. 25,000. At the same time, Kashf Microfinance Bank Limited plans to market this product more aggressively to
the general public, increasing general outreach amongst the communities in which the Microfinance Bank operates. The average balance for such accounts is projected to be approximately Rs. 4,000.
Features
- Initial deposit to open account is Rs.100/-
- No account opening charges
- No minimum balance required
- Profit bearing checking account
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Kashf Sahulat account, a basic non interest-bearing, karobari current checking account. A standard checking account, this product is expected to be a prerequisite requirement for all the lending products. As such, it is assumed that by the end of the first year, all such clients will have Sahulat Account. As with the Kashf Aitmad Bachat account, this
product will be aggressively marketed to the general public.
Features
- Initial deposit to open account is Rs. 100/-
- No account opening charges
- No minimum balance required
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Kashf Tahaffuz, a term deposit account offering three tiers ranging from one
months to thirty six months tenure with profit payable on monthly, quarterly,
bi-annually and yearly basis. Balances will be kept in the three tiers of Rs. 1 to
Rs. 25,000, Rs. 25,001 to Rs. 50,000 and Rs. 50,001 to Rs. 500,000. In addition, the general public is targeted for this product, assuming an average balance of Rs. 2,000.
Features
- Minimun investment of Rs.1,000/-
- No account opening and closing charges
- No minimum balance required
- Reward Program
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Kashf Kamaal committee, a programmed savings goal oriented account. The purpose of this account is to encourage savings for different occasions and necessities e.g. marriage, old age benefit, education, transportation, consumer durables, Hajj, Umara etc. This will serve as a substitute for committee system. An edge that this product has over the traditional committee system is that profit will be given on the deposit. Investment limits range from Rs. 500 - Rs. 5,000 while the tenure for this product is 1,3,5,8 and 10 years.
Features
- Minimun investment of Rs.500/-
- No account opening and closing charges
- No minimum balance required
- Reward Program
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Kashf Winspiration Institutional, a term Deposit for institutional depositors. Term deposits will be targeted at larger investors, including schools, hospitals, and other NGOs who are seeking attractive returns, yet also seek to support KMBL’s mission. Balances kept in this account will be divided into three tiers, Rs. 500,001 to Rs. 2,000,000, Rs.2,000,001 to Rs. 5,000,000 and the third tier will be for balances in excess of Rs. 5,000,001. The tenure for this product ranges from 3 months to 60 months.
Features
- Minimun investment of Rs.500,000/-
- No account opening and closing charges
- Relationship Manager for each account
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