Bank of Azad Jammu and Kashmir Introduces High-Interest Remittance Account

Muzaffarabad, In an effort to boost home remittances and enhance customer convenience, the Bank of Azad Jammu and Kashmir has rolled out the “Premium Plus Remittance Savings Account,” a new savings option offering higher interest rates for remittance recipients.

According to Bank of Azad Jammu and Kashmir, the new account is designed specifically for customers receiving foreign remittances through services such as MoneyGram, IME (International Money Exchange), Instant Cash (IC), Western Union, and Ria. The scheme is linked to a network of over 350,000 agents worldwide, enabling customers to easily access remittances and benefit from the improved savings rate.

The bank stated that this account would offer an interest rate higher than that of existing savings accounts, with profits paid out monthly, thereby increasing the effective annual rate. Customers can open the Premium Plus account at any of the bank’s 85 branches across both urban and rural areas of Azad Kashmir.

This initiative is part of the bank’s strategy to facilitate the inflow of remittances into the region, providing a valuable financial service that supports local economies and serves the needs of the diaspora and their families in Azad Kashmir.

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