Savings account profit rates compared (as of October 2026)

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.

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.

*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.

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:

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:

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

A non-filer loses twice as much of the profit to tax. See filer vs non-filer and how to become a 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:

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 and mutual funds in 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.
• 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, best bank in Pakistan, Meezan Bank vs other banks, digital banks in Pakistan, investment options in Pakistan, Money.