# Savings account profit rates compared (as of October 2026)

URL: https://which.pk/money/guides/savings-account-profit-rates/
Author: Ahtisham Imtiaz
Updated: 10 Oct 2026

## Summary

For individuals with up to Rs 1 crore, HBL, UBL, MCB, Allied Bank, NBP, JS Bank and Soneri all pay 10.00% on ordinary savings accounts, the State Bank minimum, as of their latest 2026 rate sheets. Soneri's Roshan Savings and Youngsters accounts and NBP's Worker's Foree Remittance account pay 10.10%. Above Rs 1 crore, Allied Bank, MCB, UBL and JS Bank pay between 7.00% and 9.50%. Banks deduct 20% tax on profit for filers and 40% for non-filers. Allied Bank's Islamic savings account paid 6.63% for August 2026.

## Key facts

- Top rate (7 banks checked): 10.10% (Soneri, NBP)
- SBP minimum, up to Rs 1 crore: 10.00%
- Tax on profit: 20% filer, 40% non-filer
- Islamic example (ABL, Aug): 6.63%

Among the seven banks we checked, the highest profit rate on a savings account in Pakistan is **10.00% to 10.10% a year** for individuals with up to Rs 1 crore. HBL, UBL, MCB, Allied Bank, NBP, JS Bank and Soneri all pay **10.00%** on ordinary savings accounts, which is the State Bank of Pakistan (SBP) minimum. Soneri's Roshan Savings and Youngsters accounts and NBP's Worker's Foree Remittance account pay **10.10%**. Rates are from each bank's latest sheet, as of October 2026.

**SBP minimum savings rate, October 2026:** 10.00% (SBP floor rate of 10.50% minus 0.50%, for individuals with a monthly average balance up to Rs 1 crore)

## Which bank gives the highest profit on a savings account?

These are rates for an individual's ordinary rupee savings account, from each bank's own rate sheet. "Above Rs 1 crore" means a monthly average balance above Rs 10 million. Rates are yearly and before tax.

| Bank | Account | Up to Rs 1 crore | Above Rs 1 crore | Profit paid | Sheet date |
|---|---|---|---|---|---|
| Soneri | Roshan Savings, Youngsters Minor Savings | 10.10% | No separate rate shown | Not stated | Page dated 5 Sep 2026* |
| NBP | Worker's Foree Remittance Account | 10.10% | No separate rate shown | Not stated | 1 Aug 2026 |
| NBP | Izafi Munafa Account | 10.00% (under Rs 10 lakh), 10.05% (Rs 10 lakh to Rs 5 crore) | 10.05% to Rs 5 crore, 10.00% above | Monthly | 1 Aug 2026 |
| Allied Bank | PLS Savings, Asaan Saving, Platinum Rewarding Profit | 10.00% | 9.50% | Not stated | 1 Oct 2026 |
| MCB | PLS Savings and 23 other savings products | 10.00% | 9.00% | Not stated | 1 Aug to 31 Dec 2026 (provisional) |
| UBL | Savings Account, Mahana Aamdani Savings | 10.00% | 8.00% to Rs 10 crore, 8.50% above | Half-yearly (Savings), monthly (Mahana Aamdani) | 1 Oct 2026 |
| HBL | PLS Savings Chequing, Mahana Amdan, Nisa, Rutba | 10.00% | No separate rate shown | Half-yearly (PLS), monthly (others) | 1 Jul to 30 Sep 2026 |
| JS Bank | All savings accounts | 10.00% | 7.00% (Rs 1 crore to Rs 2.5 crore) | Not stated | 1 Oct 2026 |
| NBP | PLS Savings, Asaan Savings, Premium Saver | 10.00% | No separate rate shown | Half-yearly | 1 Aug 2026 |

*Soneri's page dates its term deposit and special product rates from 5 September 2026; the savings rows sit under the same heading. HBL's sheet runs to 30 September 2026 and we couldn't find HBL's October sheet. NBP's 1 August 2026 sheet was still the latest on its rate page on 10 Oct 2026.

Meezan Bank and Bank Alfalah returned access errors, and Bank AL Habib and Faysal Bank showed bot checks on 10 Oct 2026, so they are not in the table.

## Why do most banks pay exactly 10%?

The SBP sets a floor. Conventional banks must pay at least **0.50% below the SBP repo (floor) rate** on rupee savings deposits, on the average monthly balance (BPRD Circular 7 of 2013). When the floor rate changes, the new minimum applies from the first day of the next month.

As of 30 Sep 2026, the SBP policy rate is **11.50%**, the floor rate **10.50%** and the ceiling **12.50%**. The Monetary Policy Committee kept the policy rate unchanged at its 14 September 2026 meeting. So the minimum is 10.50% minus 0.50%, which is **10.00%**.

Three limits apply:

- **Term deposits are not covered.** Since 1 June 2014 the minimum applies to savings products with no fixed maturity, not term deposits (BPRD Circular 5 of 2014).
- **Companies are not covered.** Since 1 January 2025, deposits of financial institutions, public sector enterprises and public limited companies are outside the rule (BPRD Circular 5 of 2024). HBL and Soneri pay these 7.50%.
- **Large balances are not covered.** From 1 August 2026, the minimum covers only individuals with a monthly average balance of up to Rs 1 crore (BPRD Circular Letter 15 of 2026). SBP's reason: institutional and sophisticated investors can now buy government securities directly through its InvestPak platform.

**Balances over Rs 1 crore earn less:** If your monthly average balance goes over Rs 1 crore, the 10% floor no longer applies. As of October 2026, Allied Bank pays 9.50% on that balance, MCB 9.00%, UBL 8.00% and JS Bank 7.00%. NBP's August sheet and HBL's July to September sheet show no separate rate for larger balances.

## Does monthly profit pay more than half-yearly profit?

Yes, slightly, because profit paid earlier starts earning profit too. At the same 10.00% rate:

| How profit is paid | Effective yearly rate | Example |
|---|---|---|
| Half-yearly | 10.25% | HBL PLS Savings Chequing, NBP PLS Savings |
| Quarterly | 10.38% | HBL Value Account |
| Monthly | 10.47% | HBL Mahana Amdan, Nisa, Rutba, Money Club |

HBL's PLS Savings Chequing Account credits profit on 30 June and 31 December. Its monthly-profit accounts pay profit monthly. NBP's Izafi Munafa Account, at 10.05% paid monthly, works out to **10.53%** a year on balances from Rs 10 lakh to Rs 5 crore.

If you want monthly income, look for an account paying monthly: UBL Mahana Aamdani Savings, HBL Mahana Amdan or NBP Izafi Munafa.

## What is the highest profit rate on an Islamic savings account?

Islamic accounts work differently. They share the bank's actual earnings and declare the rate after each month, so there is no fixed rate in advance.

The SBP requires Islamic banks to pay rupee savings depositors at least **75% of the weighted average gross yield** of all their pools (IFPD Circular 9 of 2024, from 1 January 2025). Islamic banks may give hiba, a voluntary gift, to meet the minimum profit rate.

Allied Bank's declared rates show how this plays out:

| Allied Bank Islamic account | June 2026 | July 2026 | August 2026 |
|---|---|---|---|
| Allied Islamic Saving / Asaan Saving | 6.69% | 7.65% | 6.63% |
| Aitbar Senior Citizen Saving, Aitbar Khanum Saving | Not checked | Not checked | 8.00% |

The August rates were published on 8 September 2026. The main Islamic savings account's 6.63% is 3.37 percentage points below the 10.00% that conventional savings accounts must pay. Meezan Bank's 2026 rate file blocked our download, so we could not check Meezan's rates.

## How much tax is deducted on savings account profit?

Banks deduct withholding tax under section 151 of the Income Tax Ordinance on profit from any bank account or deposit, as of FBR's rate card for the Finance Act 2026:

- **20%** if you are on the Active Taxpayer List (ATL, a filer)
- **40%** if you are not

| Balance at 10% a year | Profit before tax | Filer keeps (20% tax) | Non-filer keeps (40% tax) |
|---|---|---|---|
| Rs 1 lakh | Rs 10,000 | Rs 8,000 | Rs 6,000 |
| Rs 10 lakh | Rs 1 lakh | Rs 80,000 | Rs 60,000 |

A non-filer loses twice as much of the profit to tax. See [filer vs non-filer](/business/guides/filer-vs-non-filer/) and [how to become a filer](/business/guides/how-to-become-filer/).

## Is a term deposit better than a savings account?

Sometimes, but term deposits are outside the SBP minimum, so each bank sets its own rate and you commit the money for a fixed term. One-year rates at maturity, as of each bank's sheet:

| Bank | One-year term deposit | Sheet date |
|---|---|---|
| JS Bank | 10.70% (Rs 1 lakh to Rs 49.99 lakh), 11.05% (Rs 1 crore and above) | 1 Oct 2026 |
| Soneri | 11.00% (Salana Amdani), 10.75% (standard) | 5 Sep 2026 |
| HBL | 10.60% (Advantage Account) | 1 Jul to 30 Sep 2026 |
| UBL | 9.50% (Mahana Aamdani Term Deposit) | 1 Oct 2026 |
| Allied Bank | 9.50% (Express Plus 1), 8.50% (Term Plus) | 1 Oct 2026 |
| NBP | 8.50% (PLS TDR) | 1 Aug 2026 |

The best one-year rates are about 1 percentage point above the 10.00% savings floor. Some one-year rates are below a savings account: NBP's 8.50%, Allied Bank's Term Plus 8.50% and UBL's 9.50%. To compare with government schemes, see [National Savings certificates](/money/guides/national-savings-certificates/) and [mutual funds in Pakistan](/money/guides/mutual-funds-pakistan/).

## Which savings account suits whom?

- **Up to Rs 1 crore, conventional:** the rate is 10.00% almost everywhere, so choose on monthly payout, branch access and fees. Monthly-profit accounts earn a little more: HBL shows 10.47% effective on its monthly accounts and NBP 10.53% on Izafi Munafa.
- **Children and young savers:** Soneri Youngsters Minor Savings pays 10.10%. HBL Money Club and Allied Rising Star pay 10.00%.
- **Overseas Pakistanis:** Soneri Roshan Savings pays 10.10% and Allied Bank and UBL pay 10.00% on Roshan Digital rupee savings. See [Roshan Digital Account investment](/money/guides/roshan-digital-account-investment/).
- **Over Rs 1 crore:** Allied Bank pays 9.50% above Rs 1 crore, against MCB's 9.00%, UBL's 8.00% to 8.50% and JS Bank's 7.00% to 9.50%.
- **Islamic only:** expect a lower, monthly-declared rate; Allied Bank's main Islamic savings account paid 6.63% for August 2026.

More guides: [Banking & Payments](/money/banking/), [best bank in Pakistan](/money/guides/best-bank-in-pakistan/), [Meezan Bank vs other banks](/money/guides/meezan-bank-vs-other-banks/), [digital banks in Pakistan](/money/guides/digital-banks-pakistan/), [investment options in Pakistan](/money/guides/investment-options-pakistan/), [Money](/money/).

## Questions people ask

### Which bank gives the highest profit on a savings account in Pakistan?

For individuals with up to Rs 1 crore, the conventional banks we checked all pay 10.00%, the State Bank minimum. Soneri's Roshan Savings and Youngsters Minor accounts and NBP's Worker's Foree Remittance account pay 10.10%.

### How much profit will I get on Rs 1 lakh?

At 10% a year, Rs 1 lakh earns Rs 10,000 before tax. After 20% tax a filer keeps Rs 8,000; a non-filer pays 40% and keeps Rs 6,000.

### Why do Islamic savings accounts pay less?

They are not tied to the 10% floor. The State Bank requires Islamic banks to pay at least 75% of the weighted average gross yield of their pools, declared after each month. Allied Bank's Islamic Saving Account paid 6.63% for August 2026.

### Is the minimum profit rate paid on balances over Rs 1 crore?

No. Since 1 August 2026 the State Bank minimum covers only individuals with a monthly average balance of up to Rs 1 crore. Above that, UBL pays 8.00%, MCB 9.00% and Allied Bank 9.50% as of October 2026.

## Sources

- [BPRD Circular Letter No. 15 of 2026: Launch of InvestPak and Minimum Rate of Return on Saving Deposits](https://www.sbp.org.pk/circulars/bprd-circular-letter-no-15-of-2026), State Bank of Pakistan (accessed 10 Oct 2026)
- [BPRD Circular No. 07 of 2013: Minimum Rate of Return on Saving Deposits and SBP Repo Rate](https://www.sbp.org.pk/bprd/2013/C7.htm), State Bank of Pakistan (accessed 10 Oct 2026)
- [BPRD Circular No. 05 of 2014: Minimum Rate of Return on Saving Deposits](https://www.sbp.org.pk/bprd/2014/C5.htm), State Bank of Pakistan (accessed 10 Oct 2026)
- [BPRD Circular No. 05 of 2024: Minimum Rate of Return on Saving Deposits](https://www.sbp.org.pk/bprd/2024/C5.htm), State Bank of Pakistan (accessed 10 Oct 2026)
- [IFPD Circular No. 09 of 2024: Profit Sharing on Saving Deposits of IBIs](https://www.sbp.org.pk/ifpd/2024/C9.htm), State Bank of Pakistan (accessed 10 Oct 2026)
- [Policy Rate and Interest Rate Corridor (home page, 30 Sep 2026)](https://www.sbp.org.pk/), State Bank of Pakistan (accessed 10 Oct 2026)
- [Withholding Tax Rates Card (Finance Act 2026)](https://download1.fbr.gov.pk/Docs/202681113864992WithholdingTaxRatesCard2027.pdf), FBR (accessed 10 Oct 2026)
- [Indicative and Annualized Rates on Deposits, 1 Jul to 30 Sep 2026](https://www.hbl.com/assets/documents/Indicative_and_Annualized_Rates_on_Deposits_w.e_.f_._01_.07.2026_to_30_.09.2026_-_Rate_Sheet_.pdf), HBL (accessed 10 Oct 2026)
- [Projected Rate Sheet, October 2026](https://www.ubldigital.com/portals/0/Pdf/Projected-Rate-Sheet-October-2026.pdf), UBL (accessed 10 Oct 2026)
- [Circular FCG-BS-2026-38: Provisional Profit Rates LCY Deposits, Aug to Dec 2026](https://www.mcb.com.pk/assets/documents/Circular-No-FCG-BS-2026-38-Dated-August-17-2026-Revision-in-Provisional-Profit-Rates-LCY-Deposits-From-Aug-01-2026-to-Dec-31-2026.pdf), MCB Bank (accessed 10 Oct 2026)
- [Projected Rates of Profit, October 2026](https://www.abl.com/wp-content/uploads/2026/10/Projected-Profit-Rates-October-2026.pdf), Allied Bank (accessed 10 Oct 2026)
- [Islamic Banking Deposits: Profit Rates for August 2026](https://www.abl.com/wp-content/uploads/2026/09/08-Profit-Rates-for-Islamic-Banking-August-2026.pdf), Allied Bank (accessed 10 Oct 2026)
- [Indicative Profit Rates on Remunerative Deposits w.e.f. 1 August 2026](https://www.nbp.com.pk/IndicativeProfitRates/files%5CIndicative-Profit-Rates-W.e.f%2001-08-2026.pdf), National Bank of Pakistan (accessed 10 Oct 2026)
- [Profit Payout Rates, with effect from 1 October 2026](https://www.jsbl.com/wp-content/uploads/2023/01/LCY-Rack-Rates-01-Oct-26.pdf), JS Bank (accessed 10 Oct 2026)
- [Pak Rupee rate sheet](https://soneribank.com/personal/news-update/rate-sheets/pak-rupee), Soneri Bank (accessed 10 Oct 2026)
- [SBP limits minimum deposit profit rate to individual accounts up to Rs10 million](https://profit.pakistantoday.com.pk/2026/07/07/sbp-limits-minimum-deposit-profit-rate-to-individual-accounts-up-to-rs10-million), Profit (Pakistan Today) (accessed 10 Oct 2026)