All banks will deduct Zakat on first Ramzan. Banks will deduct Zakat only from those accounts which have at least Rs. 61,336 and all bank account holders who have less than this amount in account have been exempted.
Last year Zakat rate for bank holders was Rs. 29,385 but due to rapid increase of rate in Silver, Zakat minimum cost rate also increases. This year Rs. 31,951 increase and new minimum amount is Rs. 61,336.
It’s also a fact that majority of bank holders in Pakistan avoid giving Zakat through bank due to corrupt leadership and lack of trust on Government. Most people either submit Zakat declaration form or make pay orders. People also withdraw amounts from bank account to pay Zakat personally.