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Weddings are a grand tradition in Pakistan and a major milestone in your children’s life. The rising cost of living due to inflation has made “weddings” a big financial challenge for parents. This major milestone of life can be made memorable if planned carefully. Thus, early financial planning is crucial for meeting these expenses easily.
Don’t know where to start? NBP Aitemaad Wedding Plan is your perfect solution to plan for the big day.
|COST OF WEDDING TODAY VS TOMORROW ( At 7% Inflation P.A. )|
|Current Expenses||After 10 Years||After 15 Years||After 20 Years|
|Rs. 10 Lac||Rs. 19.75 Lacs||Rs. 27.6 Lacs||Rs. 38.7 Lacs|
|Rs. 20 Lac||Rs. 39.3 Lacs||Rs. 55.2 Lacs||Rs. 77.4 Lacs|
|Rs. 30 Lac||Rs. 59 Lacs||Rs. 82.8 Lacs||Rs. 1.2 Crore|
|Nature of Plan||Open-end Shariah Compliant Savings Plan|
|Initial Investment||Rs. 100,000|
|Regular Investment||Minimum of Rs. 5,000|
|Investment Frequency||Monthly, Quarterly, Bi-annual or Annual|
|Front End Load||3%|
|Plan Tenure Options||Based on your needs|
|Early Withdrawal||Any time without any penalty|
|Built-in Takaful Feature|
|Takaful Coverage||Life and accidental death coverage|
|Sum Covered||Net investment value or a maximum of Rs. 5 million|
|Applicable Premium Rates & Coverage***||0.015% per month.|
|Eligibility for Takaful||Min age of 18 years or max age of 65 years|
|Minimum Investment Value for Eligibility||Rs. 80,000|
|Takaful Operator||Jubilee Family Takaful|
|Saving Plans||Objective||Underlying Investment****||Last 9 Year Performance of underlying funds*|
|NRFSF||NISIF||Annualized||Value Of Rs 10 Lacs|
|NAFA Islamic Surmaya Tahaffuz Plan (NISTP)||Preservation of Capital||100%||0%||7.6%||19.3 Lacs|
|NAFA Islamic Mutawazan Surmaya Plan (NIMSP)||Balanced Growth||50%||50%||11.2%||25.9 Lacs|
|NAFA Islamic Surmaya Izafa Plan (NISIP)||Capital Growth||0%||100%||14.4%||33.5 Lacs|
****NRFSF: NBP RIBA FREE SAVINGS FUND (Formerly NAFA RIBA FREE SAVINGS FUND); NISIF: NBP ISLAMIC SARMAYA IZAFA FUND (Formerly; NAFA Islamic Asset Allocation Fund); Note: Performance shown is of the underlying funds as on October 31, 2019, based on dividend reinvestment gross of withholding Taxes, excluding cost of front-end load. The performance reported is net of Management Fee, Takaful premium, and all other expenses. Taxes apply as per current income tax law.
* Performance of underlying fund ending October 31, 2019. All investment in mutual funds/plans is subject to market risk. Past performance is not necessarily indicative of future results. Please read the Offering Documents to understand the investment policies and the risks involved. The underlying scheme holds certain non-compliant investments. Before making any investments decision, investors should review the latest monthly Fund Manager Report and Financial Statements. NBP Funds will play a facilitating role by assisting the covered or the nominee in claim processing. However, the investor will be responsible to directly settle the claims/liabilities, if any, under this arrangement with the takaful company without any obligation on the part of the Management Company, Trustee and Funds/Plans.