What-Is-BISP-Saving-Scheme

BISP Saving Scheme Registration (For 2024) {بینظیر انکم سپورٹ پروگرام بچت اسکیم}

Benazir Income Support Programme has launched the BISP Saving Scheme to give additional benefits and to support orphans, street vendors, and labor workers, who are already registered with Benazir Income Support Program.

BISP Saving Scheme registrations have been started in the selected cities/districts of Pakistan for the first phase i.e. Phase-I.

Under this scheme applicants who are already registered with the Benazir Income Support Program would deposit Rs. 500 to Rs. 1,000 at least per month in their “Savings Accounts” (that would be opened during this scheme), and they would receive up to 40% profit on their deposited amounts.

Currently, BISP Saving Scheme registrations are open in the following cities/districts:

  • Islamabad
  • Lahore
  • Multan
  • Karachi
  • Muzaffarabad
  • Neelam
  • Lucky Marwat
  • Quetta
  • Peshawar
  • Qila Saifullah
  • Sukkur
  • Gilgit
  • Astor.

In this article, we will explore eligibility requirements, necessary terms and conditions, and a detailed guide on how to apply for the BISP Saving Scheme Online. Let’s get started!

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BISP Saving Scheme Registration | بی آئی ایس پی بچت اسکیم کے لئے درخواست

BISP-Saving-Scheme-Registration
BISP-Saving-Scheme-Registration

Table Of Contents

What Is The Benazir Income Support Programme?

Benazir Income Support Programme (BISP) was started in the memory of late Mrs. Benazir Bhutto, ex. PM of Pakistan in 2008, operational in 149 districts across Pakistan.

Under the Benazir Income Support Programme (BISP), Rs. 1,000 cash support is provided to poor families in Pakistan in a six-month lump sum installment i.e. Rs. 6,000/Six Months.

Moreover, under the umbrella of BISP, the following programs are currently running along with the Benazir Income Support Program:

  • Waseela-e-Haq: Loan program for poor women.
  • Waseela-e-Rozgar: A professional training program for eligible families.
  • Waseela-e-Taleem (WET): cash transfer for education to the poor and orphans.
  • Benazir Nashonuma: cash to pregnant and lactating women for a fixed duration of 2 years.
  • BISP Saving Scheme: Newly added scheme for additional profit under BISP.

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What Is the BISP Saving Scheme?

What-Is-the-BISP-Saving-Scheme
What-Is-the-BISP-Saving-Scheme

As already discussed this scheme is dedicated to people suffering from extreme poverty e.g. orphans, widows, street vendors, daily wagers, etc. to give them extra cash support in the form of their savings under the umbrella of the Benazir Income Support Program. Read on to know the details of this program.

Eligibility Criteria

To participate in the BISP Saving Scheme and avail of its benefits, applicants must meet specific eligibility criteria. Here are the key requirements:

Existing BISP Registration:

Individuals must already be registered with the Benazir Income Support Program (BISP). This ensures that the scheme’s benefits are extended to those who are already identified as economically vulnerable and in need of support.

Residency in Designated Districts and Cities:

Prospective participants should be residing in the specified cities and districts where the BISP Saving Scheme registrations are currently open.

These include:

  • Lahore
  • Multan
  • Karachi
  • Sukkur
  • Gilgit
  • Astor
  • Islamabad
  • Muzaffarabad
  • Neelam
  • Peshawar
  • Lucky Marwat
  • Quetta
  • Qila Saifullah

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Terms And Conditions Of The BISP Saving Scheme

To ensure clarity and transparency, the BISP Saving Scheme is governed by the following terms and conditions:

1. Savings Account Requirement:

  • Participants must open a designated savings account in a bank to enroll in the scheme.

2. Monthly Deposit Range:

  • Scheme participants are required to deposit a monthly amount ranging from 500 to 1000 rupees into their designated bank account.

3. Additional Support from BISP:

  • Beneficiaries of the scheme will receive an extra 40% of their deposited savings as support from the Benazir Income Support Program.

4. Two-Year Duration:

  • The scheme operates over two years, during which participants accumulate savings.

5. Withdrawal Terms:

  • Participants are not permitted to withdraw the principal amount during the two years.
  • While the contribution is provided by BISP, any interest earned will be withdrawn from the bank.

6. Withdrawal Flexibility:

  • Participants have the option to withdraw from the scheme at any time.
  • Rejoining the scheme, however, is only possible after the two-year duration.

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How To Apply For The BISP Saving Scheme Online? (Step-by-Step Guide)

How-To-Apply-For-BISP-Saving-Scheme-Online

To facilitate our readers we have outlined a detailed guide for the online application process for the BISP Saving Scheme, follow these step-by-step instructions:

Visit the Official Website

Access the dedicated official website for the BISP Saving Scheme at https://savings.bisp.gov.pk/.

Verification of BISP Registration

Enter your ID card number on the website to verify your existing registration with BISP and confirm your residency in a district covered by the scheme.

Eligibility Confirmation

Upon successful verification, you will receive confirmation of your eligibility, after which you will be guided through the next steps.

Opening a Savings Bank Account

Follow the guidance provided to open a savings bank account in one of the affiliated banks associated with the “BISP Saving Scheme”.

Monthly Deposit for Maximum Benefits

After successfully opening your bank account, deposit a monthly amount ranging from Rs. 500 to Rs. 1,000 to maximize the benefits of the scheme, including a 40% profit on your deposited amounts.

Withdrawal Flexibility

Lastly, the saving scheme allows withdrawing from the scheme at any time in the future, offering participants control over their financial commitments.

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BISP Helpline Number

For enrollment and grievance redressal, the Benazir Income Support Programme provides the following contact information:

Vijay Kumar:

  • Director (E&GR)
  • Extension: 140
  • Contact Number: 051-9246422
  • Email: dir.bs@bisp.gov.pk

Ibrar Ul Hassan:

  • Deputy Director
  • Extension: 324
  • Contact Number: 051-9246414
  • Email: dd.gr@bisp.gov.pk

Malik Waqar Imtiaz:

  • Deputy Director
  • Extension: 328
  • Contact Number: 051-9246414
  • Email: dd.enr@bisp.gov.pk

Ajmal Khan:

  • Assistant Director (Public Grievance)
  • Extension: 328
  • Email: ad.pg@bisp.gov.pk.

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Frequently Asked Questions (FAQs) – BISP Saving Scheme

What is the Benazir Income Support Programme (BISP)?

BISP is a government initiative launched in memory of the late Mrs. Benazir Bhutto, offering financial support to impoverished families in Pakistan.

What benefits does BISP provide to eligible families?

Eligible families receive Rs. 1,000 in cash support every six months through BISP, totaling Rs. 6,000 per installment.

What additional programs are under BISP?

BISP includes programs addressing various needs like loans, professional training, education support, and assistance to pregnant and lactating women. such as:

Waseela-e-Haq
Waseela-e-Rozgar
Waseela-e-Taleem (WET)
Benazir Nashonuma.

What is the objective of the BISP Saving Scheme?

The BISP Saving Scheme aims to provide additional benefits to orphans, street vendors, and labor workers already registered with BISP, encouraging savings through a structured scheme.

In which cities and districts is the BISP Saving Scheme currently open for registration?

Registrations for the BISP Saving Scheme are open in cities/districts such as Islamabad, Lahore, Multan, Karachi, Muzaffarabad, Neelam, Lucky Marwat, Quetta, Peshawar, Qila Saifullah, Sukkur, Gilgit, and Astor.

What are the eligibility criteria for the BISP Saving Scheme?

To participate, individuals must be already registered with BISP and reside in specified cities/districts listed under the scheme.

How can one apply for the BISP Saving Scheme online?

To apply online, visit the official BISP Saving Scheme website at [https://savings.bisp.gov.pk/], verify BISP registration using your ID card number, and follow the steps for opening a savings account.

What are the terms and conditions of the BISP Saving Scheme?

Participants need to open a savings account, deposit monthly amounts between Rs. 500 to Rs. 1,000, receive 40% profit from BISP commit to a two-year duration with no withdrawal of the principal amount during this period.

BISP helpline number for complaints and informational purposes?

Contact details for BISP officials overseeing enrollment and grievances include:

Vijay Kumar: (051-9246422)
Ibrar Ul Hassan: (051-9246414)
Malik Waqar Imtiaz: (051-9246414).

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