BISP saving scheme witnesses a surge with 5,372 applications

Islamabad: The Benazir Income Support Programme (BISP) recently rolled out its ‘Savings Scheme’ with the primary objective of fostering financial independence and cultivating a savings ethos among participants in the program.

As of now, the BISP Saving Scheme has garnered 5,372 applications. Following the submission of applications, a ‘Registration’ process will be initiated. Successful completion of this stage renders applicants eligible for participation in the ‘Savings Scheme.’

Please enable JavaScript in your browser to complete this form.

نام *

والد کا نام *

شناختی کارڈ نمبر *

موبائل نمبر *

گھر کے افراد کی تعداد

آپ کی عمر

مکمل پتہ

کسی کا انتخاب کریں شادی شدہغیر شادی شدہبیوہ

Submit

Also Read: 8171 Ehsaas Program 25000 BISP Registration Online New Update

The initiative seeks to establish a financial safety net for unforeseen expenses and emergencies. Eligibility for the scheme is extended to economically disadvantaged families associated with BISP, with a poverty score of up to 40 PMT and lacking regular employment.

Numerous applications have been received from diverse regions, including 3,416 from Punjab province, 1,135 from Sindh province, 397 from Khyber Pakhtunkhwa, 176 from Azad Jammu and Kashmir, 117 from Balochistan, 79 from Gilgit Baltistan, and 52 from Islamabad. These applications have been submitted through the web portal provided by BISP.

In the initial phase, the scheme will accommodate one hundred and fifty thousand customers on a first-come-first-served basis. The BISP Saving Scheme is inclusive, accepting applications from both men and women, with one representative per family eligible to apply. Upon enrollment, participants commit to a two-year tenure, during which they are required to save between Rs500 to Rs1000 in their designated ‘Savings Accounts.’ BISP will add an additional forty percent of the gross savings to customers on a quarterly basis.

Also Read: Benazir Income Support Program Update 2023

It’s worth noting that, while the supplementary amount provided by BISP is withdrawable, the principal amount deposited for savings is non-withdrawable. Participants, however, maintain the flexibility to terminate their involvement in the scheme at any stage of their choosing.

The scheme is devoid of any application fees, and applicants are advised to exercise caution against potential fraudulent activities. In the event of complaints, individuals are urged to contact their nearest BISP offices.

BISP 8171 Basic Information Required