Roshan Digital Account for Overseas Pakistani

Roshan Digital Account SBP

The best ever step which is taken up by the Government of Pakistan is Roshan Digital Account under the supervision of the state bank of Pakistan on 10th September 2020 for all overseas and local Pakistani citizens. This initiative was taken up by Prime Minister (PM) Imran Khan to stimulate investment, payment, banking, and remittance activities in Pakistan.

Residential and Nonresidential can make their accounts in the State Bank of Pakistan in this innovative scheme. RDA benefits, profits, required documents, circular, and account opening process is discussed in detail for your assistance. It is an innovation in banking, in the form of Roshan Digital Banking SBP.

One of the most important features of this account for customers is that they can do banking by using the currency of different countries i.e. KPR, EUR, GBP, FCY, and USD, etc.

Criteria/Eligibility for making an account

  • Residential Pakistani (FBR Filer)
  • Non Residential (Overseas)

Product/Account Key Features for Costumer

  • Saving account
  • Current account
  • Cheque Book availability
  • Debit availability
  • Repatriable features
  • INP Certificate availability
  • 5 year USD profit rate
  • KPR profit rate
  • Zero Zakat deduction in INBC and saving account (RDA)

How to open an RDA/ Account

There are some conditions for opening an account in RDA for overseas or nonresidential which are compulsory to fulfill by the customer. Following are the terms and conditions/documents required for opening or starting an account

For Overseas

  • Sign up first
  • Provide your basic information which is needed
  • Make a file of scanned documents that are necessary to upload
  • CNIC/ID card copy from both sides (Back/Front)
  • POC/NICOP copy (Front/Back)
  • The first page of the passport (Showing country either Pakistani or others)
  • NRP Status (Provide Proof)
  • All professional documents
  • CNIC/POC/NICOP based Sign/signature
  • Current picture
  • e-KYC proof (in recorded form)
  • It will take 48.00 hours (Approximately two days)
  • Your account will be open after verification

General instruction for Opening an Account (Residential and Non-Residential)

Basic information for customers ’ satisfaction related to RDA may be different in different banks. The customer has to visit and check the criteria of the related bank. There is an availability of a PDF with all the details which need to know by an account holder.

Which bank is best for Roshan digital account, Roshan digital account bank list, Roshan bank account sbp, hbl/nbp Roshan digital account, standard chartered Roshan bank account benefits, and all related keywords can be searched from here.

  • Weightages & Rates (INPC)
  • Internet banking (T and Cs)
  • Debit card terms and conditions
  • Conditions for CDC

List of banks offering RDA

  • HBL
  • Bank Alfalah
  • Bank Al Habib
  • Dubai Islamic Bank
  • Faysal bank
  • Habib Metropolitan Bank
  • MCB
  • Meezan Bank
  • Samba bank
  • Standard chartered bank
  • UBL

 Bank Innovation/Digitalization

The modernism in banking is Roshan digital banking. It is the best and new initiative by the State Bank of Pakistan. There is no need to wait for anything in the bank. You do not have to wait for bank formalities. You just have to use your digital banking to do your bank-related work within minutes.

It will reduce your efforts, time and provide you relaxation. You can use it for sending money, banking, funds transfer, pay bills, pay the fee, and many more. There is no need to move for a bank to open an account. Now you just have to make an account online in SBP.

It will work more efficiently as compared to the old and traditional banking system. The customer has to make an account while sitting at home. You have to provide all the information online for the initiation of your digital account.

The benefit of Roshan Digital Bank

Deposits Related Benefits

  • Tax-exempt earning
  • Zero withholding tax
  • Freedom from FBR certification
  • No deposit profit from costumer

Transaction Benefits

  • No tax on withdrawal
  • Zero tax rate from bank to bank transaction
  • Freedom from some clause 239P, 231, 231A on having NRPs (RDAs)

NPC (Naya Pakistan Certificate) Investment

  • 10% tax rate on profit on having NRPs (RDAs)
  • Zero file tax return

Investment in Mutual Funds and Shares

  • 15% tax rate on capital gains, dividends from companies, and mutual fund except for IPPs
  • 5% tax rate on dividends
  • 25% tax rate for a tax-exempt company
  • Zero/No plenty on ATPL (due to absence)
  • 1% tax at the time of sale of property
  • 1% tax at the time of buying of property
  • No file tax return (On saling of property)

Click to Open Account

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