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!
Recommended Reading: BISP 8171 Online Registration | Benazir Income Support Online Registration {8K-12K}
BISP Saving Scheme Registration | بی آئی ایس پی بچت اسکیم کے لئے درخواست
Table Of Contents
Recommended Reading: Benazir Income Support Program Registration 2024 (BISP-8171) {Updated}
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.
Recommended Reading: Benazir Ehsaas Kafalat Program Check CNIC PKR-14,000 (SMS-8171) {Updated}
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 | Participating Districts | Application Process | Deposit Requirements | Benefits | Scheme Duration | Withdrawal Rules |
|---|---|---|---|---|---|---|
| Existing beneficiaries of the Benazir Income Support Program | Islamabad | Open a savings account in the bank and apply to the provided web page | Monthly deposits ranging from 500 to 1000 rupees | Receive an additional 400% of savings from BISP | Two years | Cannot withdraw principal amount during the scheme period |
| People engaged in informal employment (e.g., day laborers) | Manzarabad | Contributions from BISP and bank profit are deductible | ||||
| Individuals with P Irani scores between 0 and 40 | Education Peshawar | Withdrawal is allowed at any time, but re-joining is not possible until the end of the scheme | ||||
| Marwat Kot | ||||||
| Qila Saifullah | ||||||
| Karachi | ||||||
| Sukkur | ||||||
| Lahore | ||||||
| Multan | ||||||
| Kumkut | ||||||
| Astoor |
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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:
| Feature | Details |
|---|---|
| Savings Account Requirement: | Participants must open a designated savings account in a bank. |
| Monthly Deposit Range: | Scheme participants must deposit between 500 to 1000 rupees monthly. |
| Additional Support from BISP: | Beneficiaries receive an extra 40% of their deposited savings from BISP. |
| Two-Year Duration: | The scheme operates over two years. |
| Withdrawal Terms: | The principal amount cannot be withdrawn during the two years. |
| BISP contributes; interest earned is withdrawn from the bank. | |
| Withdrawal Flexibility: | Participants can withdraw at any time, but rejoining is only after 2 years. |
Recommended Reading: Benazir Income Support Programme PKR 7000 (SMS-8171) {Updated}
How To Apply For The BISP Saving Scheme Online? (Step-by-Step Guide)
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.
Recommended Reading: BISP 8171 Online Registration | Benazir Income Support Online Registration {8K-12K}
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.
Recommended Reading: Benazir Income Support Program Registration 2024 (BISP-8171) {Updated}
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).
Recommended Readings: Benazir Income Support Program Registration 2024 (BISP-8171) {Updated}
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