Quick Tips

How to open an account in Bank of Punjab

Bank of Punjab is a Pakistani commercial bank with its Headquarters in Lahore and it was built in 1980, almost 30 years ago. It is the 7th largest Pakistan commercial Bank with over 550 branches across the country.

Among other things, the bank provides Mobile banking services through its BOP mobile banking app available in both Android and iOS.

Some of the features of the Mobile Banking app are mentioned below:

Check your account balances
View Transaction Details
Beneficiary Management
Transfer funds across Pakistan to any account
Utility Bill payment
Internet Service Providers’ bill payment
Mobile bill payment
Mobile Top-ups
Manage your debit card status

Let’s look at 3 different types of account you can open at BOP:

Current account
Assan Savings account
Young Lion account

Current Account:

There are 2 types of people who can apply for a current account at BOP:

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 BOP, 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 BOP:

CNIC
Proof of business

After you’ve submitted these documents, you’d also need to pay a minimum fee of 1000 PKR for the account while no minimum fee is required for account maintenance.

Features of Current Account:

Free bank statements
Free net banking facility
Unlimited fund transfer and withdrawals through ATM.
Free pay orders and cheque books
No worries on maintaining a minimum monthly balance.
Unlimited withdrawals and deposits every month.

Asaan Savings Account:

There are 2 types of people who can apply for asaan savings account at BOP:

Salaried individual (Age limit: 18 to 70 years old)
Business owner (Age limit: 18 to 70 years old)

In both cases, all you require is your CNIC and a minimum bank opening fee of 100 PKR.

The profit rates for the month of July were 6.28% while those of August will be available later.

Features of Savings Account:

The account can be opened as individual, joint or minor type.
There is no minimum balance requirement.
There are no Service Charges.
The account will preferably be ATM/Debit Card based.
Cheque book can be issued as per the choice of the customer.
A silver debit card is subsidized at PKR 300 per annum for both issuance & renewal.
Per month total debit limit of 500,000 PKR
Total Credit Balance limit of 500,000 PKR

Young Lion Saving Account:

Bank of Punjab provides young children under the age of 18 with their very own savings account, this helps children to learn the importance of saving from a young age.

Features of Young Lion account:

This is a chequing account product.
Calculation of profit is on monthly average balance basis.
Profit payment is on a monthly basis.
Free first Cheque Book of 25 leaves.
Free silver Debit card.
Free e-banking facility to view account balance and statement of account is available.
SMS alert facility available.
Payment of utility bills.

In all these are the 3 types of accounts you can open at BOP, so if you feel interested, visit your nearest BOP branch to apply.

Not convinced? Here is a complete list of all Pakistani banks where you can open your accounts:

Abdul Raffay

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Abdul Raffay

Tags: Bank

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