Q. Will the customer get any profit on his/her Mahana Munafa Account if the customer encashes/withdraws his/her funds before the maturity date?
No profit would be paid if such early encashment is made within the first one (1) month of the investment. However, if encashment is made after one month of investment, profit of the nearest completed tenor would be calculated and paid to the customer.
Q. Will there be any penalty if the customer withdraws the funds before the maturity date?
No, there is no penalty to punish customers for withdrawing their funds before maturity, However, the Bank may deduct any amounts paid as Profit from the principal value of the deposit or Profit payable thereon, where amounts already paid as Profit were paid with reference to a rate higher than the rate applicable in case of early encashment.