Summit Bank is a Pakistani retail bank with 193 branches across the country, the bank has its headquarters based in Karachi and was established back in 2006.
The bank also provides its customers with internet banking services, internet banking helps to ease account maintenance affairs as you can manage your account from the comfort of your home.
Some of the services provided through internet banking by Summit Bank are mentioned below:
- Utility and Credit Card Bill Payments
- Mobile Balance Recharge Facility
- Funds Transfer within Summit Bank
- Inter Bank Fund Transfer (IBFT)
- View and Download Account Statement
- View ATM/VISA Debit Card Transaction Details
- Activate/Deactivate ATM/VISA Debit Cards
- Change ATM/VISA Debit Card PIN
Let’s look at 4 different types of account you can open at Summit Bank:
- Current account
- Savings account
- Young Bee account
- Asaan account
Current Account:
There are 2 types of people who can apply for a current account at Summit Bank:
- Salaried individual (Age limit: 18 to 70 years old)
- Business owner (Age limit: 18 to 70 years old)
Salaried individual:
To apply for a current account at Summit Bank, you need to collect the following documents:
- CNIC
- Proof of employment (through an employment verification letter)
- Copy of your utility bills
Business owner:
Collect and submit the following documents to the bank if you want to open a current account at Summit Bank:
- CNIC
- Proof of business
After you’ve submitted these documents, you also need to pay a minimum fee of 1000 PKR for account opening and will also need to maintain a minimum balance of 1000 PKR for account maintenance.
Features of Current Account:
- Free e-statements
- Free first cheque book
- SMS alerts
- Free internet banking
- ATM/VISA Debit Card facility
- Unlimited number of transactions
Savings Account:
There are 2 types of people who can apply for a savings account at Summit Bank:
- Salaried individual (Age limit: 18 to 70 years old)
- Business owner (Age limit: 18 to 70 years old)
Salaried individual:
To apply for a savings account at Summit Bank, you need to collect the following documents:
- CNIC
- Proof of employment (through an employment verification letter)
- Copy of your utility bills
Business owner:
Collect and submit the following documents to the bank if you want to open a savings account at Summit Bank:
- CNIC
- Proof of business
After submitting these documents you’d also need to pay a minimum fee of 100 PKR for account opening while no minimum balance is required for account maintenance.
The Summit Bank PLS savings account has an annual equivalence rate (AER)/interest rate of up to 8.25%.
Features of Savings Account:
- Profit calculated on a monthly basis
- Free accidental insurance and ATM card
- Free SMS alerts on transactions
- Value-added services
- Free demand draft, pay order and intercity fund transfer facilities.
Young Bee account:
If you want to open an account for your children so they can learn the importance of saving, Summit Bank offers an exclusive account for young children called the Young Bee account. Visit your nearest Summit Branch, ask the bank officer to fill in the Young Bee form.
Children under the age of 18 can now have their own savings account, all the documents you require include a CNIC of the parent/guardian with their proof of income and the child’s B-form.
Features of Young Bee account:
- Attractive returns
- No minimum balance
- Free transactions over the counter, through the internet or at Summit Bank ATMs.
- Free Internet Banking facility
- Young Bee Debit Card
- Free utility bill payments through branch, SMS, ATM or Internet Banking.
- Free pay orders
- Free call deposit
- Fee waiver on the maintenance of an average monthly balance of 500,000
So if you wish to open a Young Bee account, visit your nearest summit branch with your child to apply.
Asaan Account:
You can also open an Asaan Account if you’re not the type of person to deal with the arduous intricacies of account opening documentations.
Open your Asaan Account with 100 PKR and the only documentation required is your CNIC.
Features of Asaan Account:
- Free Visa Debit Card.
- First Free Cheque Book (upon customer request)
- 4% per annum expected returns on Asaan Savings Account
- Monthly payment (asaan savings account)
- Free SMS alerts.
- Free Internet Banking.
- Free Online Banking
- Option to avail Young Bee Debit Card, Dolmen Loyalty Card and Visa Prepaid Card.
Visit the Summit Asaan account page for clarification on terms and conditions required for asaan account.
In all, these are 4 accounts you can apply for at Summit Bank, if you feel interested, visit your nearest Summit branch to apply.
Not convinced? Here is a complete list of all Pakistani banks where you can open your accounts:
- How to open an account in Bank AL-Habib
- How to open an account in Bank Alfalah
- How to Open an Account in Askari Bank Limited
- How to open an account in Habib Bank Limited (HBL)
- How to open an account in Bank Al Baraka
- How to open an account at BankIslami
- How to open an account at MCB Bank
- How to open an account at Faysal Bank
- How to open an account at Bank of Khyber
- How to open an account at Allied Bank
- How to open an account at National Bank of Pakistan (NBP)
- How to open an account at Meezan Bank
- How to open an account at JS Bank
