How to open an account in MCB Bank

MCB is one of the oldest Pakistani banks incorporated on July 9th 1947, the bank was nationalized in 1974 under the Government of Pakistan reform movement and was later on privatized in 1991. Currently, the bank has a total of 1,387 domestic branches, 1100+ ATMs and 11 offshore branches.

MCB also offers its customers with the services of internet banking so that people can maintain their finances from the comfort of their house or from wherever they are.

Some of the features of MCB Internet banking are mentioned below:

• Account summary of all your listed accounts
• Mini-statements (last 10 transactions) of each of your listed accounts
• Customize your homepage according to your requirements.
• Mobile browser compatibility.
• Enhanced security mechanism.
• Payment of utility bills.
• Check your credit card statement.
• Check your credit card unbilled transactions.
• Payment for any other MCB Credit Card.

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

• Current account
• Savings account
• Fun Club

Current Account:

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

• Salaried individual (Age limit: 21 to 60 years old)
• Business owner (Age limit: 21 to 65 years old)

Salaried individual:
To apply for a current account at MCB 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 MCB Bank:

• CNIC
• Proof of business

After you’ve submitted these documents, you’d also need to pay a minimum fee of 1000 PKR for account opening and will also need to maintain a minimum balance of 10000 PKR for account maintenance.

Features of current account:

• Unlimited withdrawals and deposits every month.
• Offering Cheque books and debit cards.
• Free internet banking
• Free e-statements
• The largest network of VISA/Debit card acceptance across the country, to find out outlets where debit cards are accepted, click here.

Savings account:

There are 2 types of people who can apply for a savings account at MCB 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 MCB 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 MCB 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 MCB Bank PLS savings account has an annual equivalence rate(AER)/interest rate of 8%.

Features of savings account:

• Free e-statements
• Free internet banking facility
• Unlimited withdrawals and deposits every month.
• Higher the deposited amount higher the return rate.
• The largest network of VISA/Debit card acceptance across the country, to find out outlets where debit cards are accepted, click here.

Read More: How to open an account at Askari Bank

Fun Club:

MCB Bank also offers a Fun Club account for kids, this account serves as a savings account for children helping them to understand the importance of financial planning.

Features of Fun Club:

• Customized Cheque books and Debit cards.
• Accessible through a smartphone.
• Discounts and deals at various outlets all over Pakistan.
• Cover Educational burden with Adamjee Life Insurance.

In all these are the 3 types of accounts you can open at MCB Bank, so if you feel interested, visit you nearest MCB Bank branch to apply or download the account opening form from this page.

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